Do you want to know how to give the perfect B2B sales demo? If so, you’re in luck! In this blog post, we will provide tips on conducting a successful sales demo from start to finish. Many businesses struggle with giving effective demos, but following these tips can help you deliver a presentation that will impress your prospects and close more deals. Let’s get started!
How to Start Any B2B Sales Demo:
You should start every sales demo by re-introducing your company and its products or services, but this time in the lens of how it solves the problems of the decision-makers on the call. This is an opportunity to explain what you do, how you can help your prospects, and why they should trust you. This is the time for real-world examples instead of sales “fluff.” It’s also important to establish rapport with your prospects, especially in commiserating or sharing how you have solved similar problems, in order to create a positive relationship and increase the chances & shorten the process of closing a deal.
How to Lead the B2B Sales Demo Discovery Process Using MEDICC:
One of the most important aspects of any sales demo is the discovery phase. This is where you ask your prospects questions to learn more about their business and needs. What is MEDICC? MEDICC is a sales qualification methodology (in this case we will use it for sales personalization) that is ideal for any sales process. Why did we chose MEDICC for qualification? The MEDDIC acronym is a handy tool for B2B sales reps everywhere. It stands for Motivation, Environment, Data, Diagnosis, and Prescription – all key factors in assessing customer needs and devising the appropriate solution, and the perfect fit for B2B demo personalization. Here’s why:
Personally speaking, MEDDIC helped me increase my close rate to over 90% and increase my team’s sales 60% year on year.
- Metrics: What is your prospect’s business’ revenue, growth rate and profit margin? How can our personalized product demo mirror how we can positively impact these for the company?
- Economic Buyer: Who is the decision maker in your prospect’s company? Is there more than one person involved in making this purchase decision? Has your demo been setup to mirror the needs of these decision makers? The fastest way to a closed deal is to ensure you meet, and exceed the needs of this group.
- Decision Criteria: How will they decide if they want to buy from you or not? Are there other stakeholders involved in this decision? What follow up materials can you provide for those that may not be on the call to personalize the next step of this sales process?
- Decision Process: When are they planning on making a purchase and what steps will it take to get there? What will it take to get the deal done today, tomorrow, next month? The more you’ve shown that your solution can immediately solve problems for the economic buyers, and those in charge of the decision criteria, the faster you can start shrinking your sales cycle.
- Identify Pain: Does your prospect have any pain points or problems that need solving right now? If so, how can you help alleviate those issues with your product or service offering? Has your demo directly show your platform solving these problems for your prospect?
- Champion: Who is the internal champion for this project at your prospect’s company? Can they help you get in front of other decision makers if needed? Have you ensured your demo shows exactly how you plan to support the champion in seeing success with your platform?
- Competition: Who are your prospect’s top competitors and how do you compare? What competitive edge can you show in your sales demo that will give your prospect a leg-up over their competition?
After asking these questions, you should be able to create a tailored software demo that speaks to the needs of their prospects. It’s important to keep in mind that not every company is interested in the same things, so it’s essential to personalize your pitch to match the buyer’s needs.
The B2B sales demo is a critical part of the selling process, and using MEDDIC to qualify your prospects can help ensure that you are targeting the right individuals and providing them with the information they need to make a purchase decision. By personalizing your demo according to their needs, you can speed up the sales cycle and close more deals. Ready to begin? Request a demo with our team of sales demo experts today!