“We gave 300 demos last month. At least 50% of them were a waste of time.”
When’s the last time you analyzed your product demos?
If you haven't reviewed you product demos recently, you may be surprised. In particular, the relationship between the product demos, sales pipeline and revenue may not be what you expect or want.
- On average, how many demos do individual buyers, or prospect companies receive before they buy?
- Does your close rate increase or decrease depending on the number of demos given?
- What percentage of early stage demos convert?
What is the demo in your company?
As a software company, product demos are an essential part of how you do business. They're also core to your prospect's buying process - they expect to check out your product first before buying. The question is, how many demos do they expect? And which demos impact your close rate? So in your business, what is the demo?
- Corporate video introducing your company and products
- Introductory, early stage demo to individuals involved in the buying decision.
- Follow up demos with individuals in the buying team.
- Follow up, deep-dive demo with IT and Security.
- Personalized demos to members of the executive team.
- Follow up demos with Procurement.
- The BIG one - the custom, scripted demo, in-person demo.
The chances are that you're not giving just one of these types of demos during a sales cycle; you're giving many of them; maybe all of them.
Demos after the sale closes
Don't forget the demos don't stop just because you're won the business:
- Implementation. Demos to different groups of users within your new customers
- Upgrades. Demos of new features and functionality.
- Benchmarking. Which features, functions, processes would improve your customer's usage, help them get more out of yur product.
- Troubleshooting. How does your customer success team help customers address ongoing issues?
Time to think differently about the demo
Maybe it’s time to stop talking about “the demo” and start thinking about showcasing your best asset – your awesome product and expertise. What if you could increase the number and quality of demos you're giving, without increasing your demo resources or costs?
To find out how, just click the Start Your Demo button at the top of the page.