“What’s in it for me?” (WIIFM) is a phrase that refers to the mindset of considering the personal benefits or gain that one will receive from a particular situation or action. It is often used in the context of business or sales, where a potential customer or client will want to know what they will gain from making a purchase or entering into a partnership. In other words, it’s a way to think about how a particular offer or proposal aligns with one’s own self-interest.
Sales: A salesperson can use the WIIFM concept when making a pitch to a potential customer. By highlighting the benefits and value that the customer will receive from the product or service, the salesperson is addressing the customer’s self-interest and making the pitch more appealing.
Negotiations: When negotiating a deal, both parties will want to know what they will gain from the agreement. By understanding the other party’s self-interest and highlighting the benefits they will receive, a negotiator can make the deal more attractive and increase the likelihood of reaching an agreement.
Marketing: In marketing, the WIIFM concept can be used to create campaigns that resonate with the target audience by highlighting the benefits and value that they will receive from the product or service.
Networking: When networking with potential business partners or clients, it’s important to be able to clearly communicate how a partnership would be beneficial for both parties. By understanding the other party’s self-interest and highlighting the benefits they will receive, a professional can make a more compelling case for a partnership.
Customer Service: A customer service representative can use the WIIFM concept to address the customer’s self-interest and make the customer feel valued and understood. By highlighting the benefits and value that the customer will receive from the service, the representative can improve the customer’s experience and increase satisfaction.