Time for my bi-annual posting. 🙂
Great article from Gong.io on giving great demos. I’ve picked up so many tidbits that I summarized them and want to share.
1. Flip Your Product Demo Upside Down
- Start the demo with the outcome
- Winning product demos mirror the same priorities raised during discovery calls
- This is approach is called “solution mapping” and it helps you get straight to the point
2. Give Them A Taste During Your Product Demo, Not A Drowning
- Give shorter, concentrated product demos
- 9 minutes of main demo time (not including questions)
- Don’t dilute your message with an endless number of value props (stick to one… MAYBE two at the most
3. Focus Your Product Demo On The Status Quo’s Pain Points
- Focusing your message on the pain of the status quo is more persuasive than focusing on benefits
- Show your buyer that their current state is unsustainable, and they’ll be willing to move away from it ASAP.
- NOT lose $25,000 they already have than they are motivated to earn an extra $25,000
4. Maintain Control Of The Product Demo
- Discuss pricing at the end.
- Respond to objections by asking questions. Responding with a question does two things:
- It makes the buyer feel heard.
- It gets your buyer to reveal their real pain point, which helps you address their objection.
5. Avoid Using Generic Social Proof During Your Product Demo
- Using endorsements from big customers might win credibility with a few buyers, but chances are it’s going to work against you.
- Buyers want to see themselves in a product, and they can’t do that if you keep citing A-listers.
- Instead of naming a few big customer names, rattle off 5-7 names of customers that are from your buyer’s tribe — other companies in their industry, operating at their level.
6. Don’t Model ROI During Your Product Demo
- Attempting to model ROI at any point in the sales process correlates with a 27% drop in your likelihood of closing a deal.
- Tell customer stories that focus on before and after.
- There are no ROI model assumptions for your buyer to argue with. You’re simply telling a story of what one of your customers achieved.
7. Solidify Next Steps At The Beginning And End
- Spend more time talking about next steps at the end of your product demo.
- Securing next steps during a first call is the easiest sales cycle decreaser ever.
- Get agreement from your customer at the BEGINNING of the call to discuss next steps, rather than penciling them in at the last minute.