Data suggests that a yes by consumers usually comes after four nos. But sadly, 48% of sales professionals do not make follow-up sales attempts. Therefore, if you want to increase your deal closure rate, it’s important to follow up on leads.
But that’s not enough or efficient. Ideally, you want to close deals with prospects with the first sales demo. To achieve this, you need to have personalized demos for each client. Since needs and budget are the biggest factors for clients, demos must focus on each client’s unique needs and budget.
In this article, you will find insightful demo tips to help you close more deals quickly.
What Makes a Demonstration Effective?
First, you need to understand what an effective demonstration looks like. It is critical that the sales demo accomplishes three objectives:
- Educates the buyer about your product
- Shows the buyer how your product will address their specific needs
- Builds rapport and relationships with buyers
If you can do those three things, you’re well on your way to acing the sales demo and closing more deals.
However, a few key elements will make or break an effective demonstration. Those key elements include:
- The right level of customization
- Addressing common objections
- Managing time wisely
- Making it interactive
Let’s dive into each of these key elements so you can learn how to implement them in your next sales demo.
1. The Right Level of Customization
One size does not fit all when it comes to demonstrations. There needs to be at least some level of customization for each client. The best way to do this is to learn as much about the client as possible before the sales demo.
You can do this by:
- Reviewing their website
- Checking out their social media profiles
- Speaking to anyone who’s had contact with them previously
The goal is to understand what they’re looking for and their pain points. This way, you can tailor the demo to show how your product will address their specific needs.
Gather Insights from Prospects
As you seek to understand your client, there’s no better source of information than your contact person. Schedule a discovery session for this.
The purpose of discovery is to probe deeper into understanding the customer and their needs by asking questions. Here are six pieces of information you should aim to learn from your prospect during this process:
- The account and sector of the organization they work in
- Their specific role within the company
- The business processes and the technical environment they operate in
- One to three strategic objectives of theirs that you can help with
- Obstacles or challenges they face related to these objectives
- Possible implications if these challenges remain unsolved
Discovery is the key to any successful sale. By setting aside dedicated time for discovery calls, you can ensure you get the best possible results.
2. Addressing Common Objections
There will always be objections during a sales demonstration. Therefore, it’s important to be prepared for them so you can keep the sale on track. The best way to do this is by addressing common objections upfront. This way, you can nip them in the bud before they have a chance to derail the entire sale.
Some of the most common objections you’ll encounter are:
- The price is too high
- We’re not interested
- We don’t have the budget for this
By addressing these objections early on, you can keep the sale moving forward and increase your chances of closing the deal.
3. Managing Time Wisely
Time management is crucial during a sales demonstration. You want to be sure you’re using your time wisely to keep the sale on track. There are a few key things to keep in mind when it comes to managing time during a sales demo:
- Don’t spend too much time on the introduction
- Get to the point quickly
- Highlight the key features
- Focus on the benefits
- Leave time for questions
By following these tips, you can be sure you’re using your time wisely and keeping the sale on track.
4. Making It Interactive
An effective sales demonstration is interactive. This means you’re not just talking to the client but engaging with them. You want to ensure you’re asking questions and getting feedback throughout the demo.
This way, you can ensure that they understand what you’re saying and that they’re engaged in the sale.
5. Highlight the Benefits of Your Product
When you’re demonstrating your product, you want to make sure that you’re highlighting the benefits. Ultimately, these are the features that you want to appeal to clients.
But it’s not just about listing features and benefits. Instead, present them in a way that resonates with each client specifically. You’ll help them picture using your software and how it can impact their company.
6. Prove the Product Can Solve Their Problems
It’s great to tell clients how your solution can solve their challenges or advance their business objectives. However, while speeches can generate excitement, they rarely drive desired action.
Instead, try showing prospects how the product will solve their problems. So, if you’ve conducted thorough research on the client and a comprehensive discovery session, you’ll be good to go.
During the demo, start with the following phrases to help set the tone:
- “If I recall correctly, your primary goal is to __________.”
- “The most significant obstacles you’ll face to achieve this objective __________ .”
- “Failure to fix these issues will result in______________.”
- “To finish, I am aware that you run your business by ____________ and use ___________ technology to help the operation.”
- “Is that correct?”
- “My goal for this presentation is to show you how our solution can help you meet your specific challenges and achieve your objectives.”
By starting your demo that way, you’ll have your prospect’s full attention. This is because they’ll know that you paid attention to their needs, suggesting the solution you offer may be ideal.
Although you may be tempted to showcase everything you have to offer a potential customer, resist that urge. Narrow your focus to three to five areas that will resonate most with them.
7. Anticipate and Answer Objections
The primary objective of a sales demo is to showcase your products to clients. However, you should not only limit it to highlighting its features.
Regardless of how great your solution is, always expect objections. So, you should be prepared for them and leave adequate time for feedback to address them.
Some of the most common objections you may encounter are:
- The product is too expensive
- We’re not ready to make a decision
- We don’t have the budget for this
- This isn’t what we’re looking for
By addressing these objections early on, you can keep the sale on track and close more deals.
8. Focus on Value Over Price
One of the most common objections is that your product is too expensive. When this happens, it’s essential to reframe the conversation and focus on value over price.
To do this, you can ask questions such as:
- How much would it cost if you didn’t implement a solution?
- How much are you willing to invest to achieve your desired outcome?
- What’s the value of solving this problem?
Asking these questions will help the client see that your solution is an investment, not a cost. It will also allow you to refocus the conversation on the benefits of your product and how it can help them achieve their desired outcome.
9. Be Prepared to Negotiate
Sometimes, a client may be willing to invest in your solution but may not have the budget for it. When this happens, you need to be prepared to negotiate.
To do this effectively, avoid getting into a back-and-forth discussion with the client. Instead, focus on their budget and needs. Once you’ve done that, offer them a discount or payment plan that meets their budget but still allows you to make a profit.
10. Follow Up With Leads
While you may want to close each deal immediately after the demo, that will not always happen. In some cases, you’ll need to follow up with leads before they’re ready to make a decision.
The best way to do this is by sending them additional information about your product. You can also invite them to future events or webinars where they can learn more about what you have to offer.
By following up with leads, you can stay top of mind and increase your chances of closing more deals.
Now that you know what makes a sales demonstration effective, it’s time to put these tips into practice. The best way to achieve this is by incorporating them into your sales demo preparation strategy. Better yet, find a solution that will help you create highly personalized and compelling demos.
In this regard, Saleo is just what you need. It’s a solution designed to help you close more deals by providing a holistic demo environment. So, schedule a free demo today to enhance sales performance with more engaging and effective sales demos.