Today’s post is by Parth Mukherjee, head of product marketing at Chorus.ai, the conversation intelligence platform used by the fastest growing B2B businesses. Chorus.ai records, transcribes, and analyzes business conversations in real time to coach reps on how to become top performers. Learn more at https://www.chorus.ai/.
Sales reps spend a significant portion of their time in the sales process doing product demos. But are they delivering those demos effectively?
Chorus.ai, a leader in conversation intelligence solutions, analyzed more than three million sales call recordings in 2018. Our advanced AI automatically recognizes screen shares and machine learning algorithms to pinpoint the kind of sales behaviors that impact win rates.
Based on this data, here are five common mistakes reps make when delivering product demos.
1. Forgetting to keep your video on when sharing your screen
Keeping your video on can impact your win rate. That was the conclusion of a recent Zoom-Chorus joint research study that showed win rates increase with more prolific use of your Webcam.
Additionally, closed deals had 77 percent of meetings with videos on, while lost deals had only 65 percent meetings with videos on. Being able to see each other – even when you are doing a product demo – is an important way to establish rapport and observe the prospects’ response to your demo.
2. Saving product demos for subsequent calls
A lot of sales reps try to focus on discovery and qualification early on and, when prospects ask about the product capabilities and features, they point to the next call. (“We will do an in-depth demo for you at the next meeting.”) This is usually a sales rep’s attempt to herd more people into the meeting and run a more effective demo. Doesn’t sound like a bad approach – except our research suggests otherwise.
Giving prospects a quick sneak peek into the product during the discovery call results in more won deals. It ensures buyers see enough value to invest more time with you. So, don’t shy away from giving the prospects a product demo on your initial call.
3. Not segmenting discovery questions
Again, discovery is not just a phase. Like any relationship in which you keep discovering new things about a partner, you can do deeper discovery after you have started a product demo. A little demo during discovery and some discovery during your in-depth demo seems to be the right approach.
In most won deals, demos are spread out over two separate calls. One call should be heavier on discovery, and the other call should be focused almost completely on the product demo.
4. Keeping demos too short and sweet
Sometimes reps tend to do shorter demos because they’re not yet comfortable with the product or lack enough sales engineering support. They want to focus on value props and ROI instead of product features.
Data suggests you had better get comfortable running longer demos. It helps get the prospect deep into the product. As a standard best practice, customize the demo based on the pain points you uncovered during the discovery call. Then the demo duration becomes a leading indicator of deal winnability.
So, the longer you demo, the more likely you are to win the deal. Sounds obvious, doesn’t it? But ask yourself – do your sales managers and reps use the demo duration to determine the probability of winning the deal? This can be a factor you use to improve your own sales forecast.
5. Forgetting to engage the prospect during the demo
Demos do not mean endless pitching. Yes, when you are sharing your screen and showing off the great stuff in your product, you will talk more and listen less. Compared to the discovery phase of the call, reps need to talk more.
However, you still have to engage the prospect. Top reps ask questions every three-to-four minutes in a demo and create an engaging moment every eight minutes – even when they demo.
For more information, download our complimentary, ungated resource (available as a PDF or a Google Drive file) on how to deliver great product demos. Print it out, pin it near your desk, and use it before and after every product demo.