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If you are seeing sales and conversions, why do you feel that your demos suck ? Numbers will give you a better picture. What is your conversion rate on Demos ?
by codegeek 5y ago
If you are seeing sales and conversions, why do you feel that your demos suck ? Numbers will give you a better picture. What is your conversion rate on Demos ? 1% ? 5%? 20% ? If it is in 2 digits, it may not be bad. The question is: How can you up the conversion rate ?
I do demos for a living (SAAS founder like you even though I have a small team)
The idea of a demo is to demonstrate solutions to the prospect's problems. It is not about showing features even though we tend to do that a lot since we love our product so much. My advice:
- Only do demos with qualified prospects (common method is the BANT rule (Budget, Authority, Need, Timeline). Do a discovery Call first where you get an idea of whether they are a good fit for your product and vice versa. No point showing Demo to unqualified prospects. It will waste yours and their time.
- A demo should ONLY focus on their key problems. Problems for which they are willing to buy. Period. Best demos are those where you just focus on those and possibly demonstrate how your product can solve it. For example "We already have xyz vendeor but they suck at abc which we really need". That's great information. Now you can show them how your product can solve for abc.
- "Show me what you got" or "We are shopping for features" type customers usually are a bad fit because the Demo won't be effective. I hate going in Demos when I have no clue about the biggest reasons why they are looking for a Product in the 1st place.
- Don't respond to RFPs unless they are willing to discuss together. Mostly a time suck with no results. Don't fall for those unless you know the game and play it already
- I have done 100s if not 1000s of demos. I think the first 10-20 mins is the key where you will have an idea if it is going well or not. If prospect is not asking questions, it may be game over and you need to engage them. If you are the only one talking, it is game over.
- Don't make it a monologue. Pause every 2 mins and ask "Does this make sense? Any questions on this". The goal is to understand if they are liking what they are seeing or if it is relevant to them.
- Before doing a demo, make sure you really have a clear understanding what the ned and problems are. If you cannot get that clarity before the demo, it is going to suck.
- Did I already say that the goal of a demo is not to show features. The goal of a demo is for you to get the prospect to say "Hey they seem to have solution to our problems. Let me buy or at least let me continue the conversation". If you fail to get them to say that, you have most likely lost or they were not qualified prospect in the first place.
- Always end a demo with next steps and action. I usually ask "Based on what we discussed so far, do you see enough value in continuing our conversation or do you honestly feel you didn't see enough to keep going further". Then pause and let them respond. If positive, suggest a Next step which could be "Buy or Trial" for the most part. Sometimes, it could be "We like what we see. need you to talk to another team".
- Record all demos (with permission) and then analyze later. If you spoke more than 60% of the time, probably a bad thing.