TBL Episode 136: Why adding more features to your offer is hurting your profitability

During my time at adidas, I was lucky enough to work in footwear. It was a product person’s dream. What footwear lover wouldn’t want to work for one of the most famous and successful manufacturers of athletic footwear in the world?

A pitfall of being so close to the product you’re helping to bring to market, however, is that you can get too deep into the “features & benefits” of the shoe.

The truth is that most consumers do not really care about that new lightweight midsole material or the revolutionary bonding process that removes the need for traditional stitching. They care about what the product does for them or how the product makes them feel.

What I’ve noticed working with many online business owners is that they can fall into this exact same trap when positioning and selling their offers.

That’s why for this episode, we discuss:

• The balance you need to strike between the features of your offers and the prices you charge
• Why adding more features to your offers is probably not the right call
• How adding too many features to your offer can increase your expenses and destroy your profitability
• How better bookkeeping can help you to avoid the pitfall of doing too much for your customers