A 4 step process for running successful product demos every time
Even if you feel pretty confident in your skills, there are ways you could improve your product demo meetings to increase your conversion rate. Want to know how to run a great demo that will persuade prospective customers that your product is exactly what they're looking for?
This blog post is for you. You can also listen to the podcast.
We have interviewed Rosi, a solution advisor in the Boyum IT partner success unit. Rosi has been doing demos for a long time, even before joining Boyum Solutions.
What are the most critical components of doing a great demo?
There are 4 components:
- A discovery meeting
- Preparation.
- The presentation itself.
- Getting back to them with answers raised during the demo
Which step in your mind should not be skipped? Which is the most important of all?
Well, I don't think you can skip any of them. But if I have to pick one, I'll bet on doing a good discovery meeting. If you make a great discovery, the rest will follow.
Many great ideas don't make it into customers' budgets because salespeople never took the time to find out what is essential to the customer and their problems. If you have this information before the demo, you can find ways to show that your product is exactly what they are looking for.
Another important aspect of doing great demos is following up. If you don't follow up, it means you've missed a chance to do more business.
What is the number one mistake salespeople make when doing demos? How would you correct them?
I think it's really easy to get caught up in showing all the features of your product. The problem is that it can take hours to demo something like this! Sometimes they tend to talk where it's not needed, and by that, unknowingly, they raise more objections with the prospect.
I always prepare a list of problems my customers face and show how I solve theirs with my product. That's what interests people, not the features.
I also recommend using a story to explain how your product works and how it can help the customer – this is a great way to get your point across. Take the listener's seat and simulate how their day will look like with this new software.
Make sure you know your product well to answer any question that comes up, and if you don't know the answer, write that question down and get back to them with answers.
How do you prepare your demos? Do you have a tool you like to make it more effective?
I use slides like the one we have in the industry packages if I am doing a Produmex WMS or Beas Manufacturing demo. Those are great as they are tailored to the customer's industry and already contain a lot of relevant information. What I do not need, the slides I am not using. I just hide them.
Besides that, I have a notebook where I jot down all the questions they ask me. I use all this information to prepare for my discovery meeting, making the demo much more targeted.
I will try to start the presentation as soon as possible. I don't want to bore the prospect with too many slides.
Do you think it's possible/beneficial to do demos without any preparation?
Very difficult. The biggest mistake salespeople make is that they don't take the time to understand their customers' problems.
It's not only salespeople who make this mistake, but also their managers - because they don't set aside time for discovery meetings. This is what you need to do to prepare your demo (and your prospective customers will be thankful)!
So, let's start with the discovery meeting. What do you think should be done in such a meeting?
The discovery meeting is an excellent opportunity to discover the customer's problems.
You need to know their pain points, the challenges they face in their work and mostly listen. You should write all that information to use in your demo preparation.
You have to interview all the roles in that organization if possible. That will give you a much broader view of their needs.
Start by asking the right questions and listening carefully to the answers.
Another thing to ask is what would be their ideal solution. Suppose they have a problem in a specific area. Then you can ask them, "what would be the ideal solution for you?". Now, you know what it will take for you to win. The more you can find solutions that match what they truly want, the better.
Other than finding out is what's important to the customer right now, you want to know where they want to be in a year, 3,5 years from now.
Keep asking questions and let them do most of the talking! This is your opportunity to find out where they need help and how you can offer products or services that can fulfill their needs.
What do you think should be done to make the most benefit of these meetings?
To make discovery meetings work, discovery documents have to be created. The good thing about these documents is that they have all the essential information condensed in one place, so the salesperson can refer to it as needed. We have a discovery document in our industry packages for Beas Manufacturing (link to download industry packages).
The challenge is that many salespeople don't take the time to read and understand the customer's problem. They just want to jump in and start the demo, which is a mistake.
A well-done discovery meeting gives you all the information you need to create a tailored demo for the customer.
To do a perfect demo, you need to know your product well and understand the customer's needs. It would be best if you were well-prepared for any questions that come up. Make sure you take the time to do a good discovery meeting - it will make your demos much more effective!
Ok, let's move on to the preparation phase. How do you prepare for a demo?
First, I get everything ready to demo it the moment the customer is ready. In our case, this includes complete packages with all the data we need: items, business partners, even the company logo. I want customers to imagine that they are there, using the system.
We also create a schedule to remember what topics need to be covered and which order (it's good if everyone can see it). This makes it easier for our customers because they know when/what they will learn next.
We plan how much time each aspect of that topic will take for every topic - something beneficial for time management.
Last but most important. It is to make sure everything works. Check all your demo scenarios and if possible, run a trial with one of your teammates.
We still do this kind of testing before each demo because we know that sometimes things can go wrong (for example, an error message pops up). You don't want to end up seeing that error only when in front of the prospect.
Ok, that was the preparation. And let's move to the demo itself. How do you make sure that the demo goes in the right direction?
There are many things to keep in mind when doing a demo.
First, make sure the customer is fully aware of what you are about to show them. There is no point in making things complicated by not explaining everything thoroughly. At the same time, use simple language, so they don't get bored!
I like to take my time and explain every step I am showing them how it can be used or why it's essential. This also allows me to understand if there are any issues with their current setup.
The most important thing is not to neglect even the smallest detail because if something goes wrong, it can quickly ruin your whole presentation - and maybe even the sale itself.
But in any case, even if you have made a mistake, it's still not too late. Try apologizing and expressing your concern to reduce tension around the place. Because usually, when we think we did something wrong, we get nervous, and later on, we can't even remember what we did or said at that moment.
This is why it's crucial to be prepared for any situation and know exactly what you're going to do in each one of them. I write down all the potential problems and possible solutions, so I don't forget anything when the time comes.
If the prospect is asking questions throughout the demo, it means they are interested. Try to maintain the conversation by asking them how they feel about what you are showing them, if this meets their needs etc.
If they ask you a question you don't know the answer to, tell them that you will research it later and come back with a reply. In most cases, they will appreciate your honesty instead of saying, "I don't know."
Make sure to write those questions down so they can see that you do it. They should not be left wondering if you'll remember their question and get back to them.
In the end, what matters is that they understand how this new system can help their company save time and make more money. And if you managed to do a good demo - congratulations! You have a much better chance at closing this sale on your first try :)
If not, well... it's never too late to go for another round of demos or pick up the phone and call them. There are still many days in the year :)
How do you manage objections during a demo?
Objections are just another part of the process you have to go through to get what you want. They can happen before or during a demo. I have had salespeople try to convince me before saying one word during a presentation. So I instantly knew that their product wasn't for me.
So how to best deal with objections, first make you understand what they are asking, and validate your understanding. If you still don't know what they are asking for, ask them to rephrase it.
Don't ever let a customer be nervous, but be patient and friendly so you can get the most out of this conversation. I try to understand why they're asking the question. Let me give you an example. Sometimes people will ask questions because they are used to doing things in a certain way with their current solution that they don't think about changing.
So I explain that this new system allows them to do things more efficiently, increasing their productivity and saving time. And it way be different than how they did things before. This kind of approach really goes well with customers.
Sometimes people ask questions so they can be reassured everything will not change. In this case, I try to figure out what they're afraid of and assure them that it will not happen if we switch over to the new system.
The important thing is to be understanding and patient with all their concerns. If you can do that, it will show that you don't want their money but want what
And also, never forget to smile :) It's a small thing that can make a huge difference.
What if the prospect asks about a feature that you know is not available in your product?
That can be a tricky situation, but don't panic! You don't need to know everything about your product. If you know that there is no solution to their problem with your product, then be honest and tell them. However, suppose they ask for this feature because of an old habit of doing things. In that case, I try to go deeper and ask them more questions to understand if I can offer a good alternative.
In the end, what matters is how you handle it - you will either lose a customer right on the spot or they might still give your product a chance. I think that if we show our willingness to do whatever it takes to help them solve their problem, we win some trust from these prospects.
And maybe one day they'll buy from us too :)
What if the prospect says, "This is not for us."?
It can mean a couple of things. They are not yet ready to buy or are not interested in this particular product or service. If it's the former, that's good for us because we need to keep an eye on them and wait - sooner or later, they will come back.
On the other hand, if it's the latter, well... you have no choice but to ask them what would make them change their mind and see how you can help them with that. Hopefully, by now, the demo was convincing enough, so it doesn't happen often :)
So I guess that leaves us with the fourth step to follow up on their questions.
Yes, and this step is huge. Not getting back to your prospect with answers to their questions can mean that they can lose trust in you. So do what you say you are going to do, even if it might take some time - you can always contact them and let them know that this is taking longer than expected. Still, rest assured the answer they are looking for will arrive soon.
If there were no questions after your demo, make sure to ask what else they want to know. And if some of their questions couldn't be answered, offer a second demo or an email with a video attached answering all their questions.
So what happens after we get all those steps done?
Then we have a customer, right? Yes, but you have to do one last thing before closing the deal. Ask them if there is anything else they would like to ask or know. Just gather as much information as possible so that their experience will be as pleasant as it can be.
And then comes the final step :)
Close the deal! Make sure you cover all your bases here. From how much it will cost to when they need to pay until what happens after when they have been using your service and want to renew their maintenance. And make this short and straightforward because, after all those other steps, we don't want this part of the demo to be any longer than it needs to be.
It is a bit overwhelming initially, but once you get the hang of it, this way of doing demos becomes really easy and fast.
Thanks for reading our blog post :) We hope you found it helpful!