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The product demo in SaaS companies is a deciding factor. Learn how to give a winning SaaS product demos that wins customers.
If you are into SaaS products, you know how demos are a big deal. A good SaaS product demos goes a long way in the purchase decision. Seeing the product or service in action before making the actual purchase helps you understand if it fits your bill or doesn’t. Product demos, especially in SaaS, are crucial in decision-making. A product demo needs to focus on the customers’ pain and offer solutions that work with your prospects.
But, how to give a winning SaaS product demo that wins customers? This article will help you create a winning product demo.
A product demo is offering your current customer or prospect a presentation of your service or product. A demo shows how you can solve customer pain points with the product or service. It shows the value you offer to a customer.
This differs depending on the type, scale, nature, culture, and resources of the company. In most cases, customer executives, sales representatives, or a designated personnel does the demo. In some smaller companies, the founders do the demo for customer benefit.
One does not offer a product demo at any random time. A product demo is offered once the lead is qualified. This includes various stages of the process.
You deliver a product demo to a customer/prospect who was once a visitor. A visitor becomes a lead if they find your offerings match their requirements. You also need to have critical information such as lead name, email address, contact number, role, and more. This has to match with the ideal customer profile to become a qualified lead.
It is only at that stage when they feel the need for additional resources or help; you can offer demos to make their decision-making process easier.
The product demo is an important component in a B2B SaaS sales process. A personalized product demo is an investment that will reward you by making a prospect a customer. There are multiple benefits of a product demo in the SaaS sales process.
Product demos are particularly helpful in SaaS companies where the product is not a self-serve one. Transactional SaaS products are those that cannot sell themselves. They require effort and finance to work. Buyers in this case look for a personalised pitch and better explanation of product features due to a higher price tag. In these high-risk, high reward transactions, the best way to close is with the product demo of the SaaS product backed by documentation, research, and customer support.
As per a survey, here are some statistics about how product demos influence sales close rates.
Mastering the product demo is a great way to gain prospect trust, improve their understanding of the product, and enhance your own awareness of the product. A SaaS product demo is a great way to build a rapport with the prospect, anticipate queries about the product that could lead to product development, and improve close rates.
The most important thing to do during a sales demo is show value to the prospect. Give them an idea of what your product can do. Start from the beginning, your genesis, why you chose to focus on that pain point, and other facets of your product. Show the prospect what makes you a great pick among competitors.
Humanize the demo as much as you can. Involve the prospect as much as you can. Ensure they are a part of it. Give them preliminary access to the SaaS product. Give room for questions. Let them ask what they want. Don’t patronize them. Encourage them to find out why a certain process is designed that way. Link the existence of the product to their needs.
You need to give importance to their pain points. Find out the issue they are facing. For example, customer success managers find it hard to keep a track of customers, their needs, and requirements. Hence creating the need for a customer success platform that manages customers. You also need to explain the unique ‘wow’ factor that establishes your value. Mention how your customer service will be available to ensure they receive all the technical help they need.
Anticipate customer questions, possible objections, and be prepared to answer them. Show them case studies, customer stories, success stories to get an idea of the product. You can personalize each demo by showing examples of customers in their niche. For example- a tech business can be shown another tech business and how they succeeded with your product. You can also show infographics, videos to build social proof. You can also showcase customer testimonials and incorporate specific facts that will help their decision-making.
Once you have completed the demo, you need to find answers to the big question- Is this prospect going to turn into a customer?
Make that simple for them and offer a little nudge with an end slide. Show a list of crisp benefits, what they get, what you offer, time taken to get started, budget, and other important details. If they need more information, ask them and offer that. You can also set up a follow-up conversation in case they have any further queries. The best bet, however, is if the prospect is convinced enough to become a customer.20
The product demos in SaaS companies is a deciding factor. So making the best of that opportunity to present the product is important. The right person should do it, take time to prep, understand the prospect’s mindset, and align that with the product features.
Dattatraya Shetty is an IT Professional with 2 Decades of experience in areas of Product Development, Implementation & Service Delivery Management. As the Head of Implementations and SOC Compliance in Smartkarrot he is on a mission to provide relishing customer experience.
Published September 21, 2021, Updated March 02, 2023
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