Closing a sale or securing investors for your startup is often all about "The Demo." You and your team become laser focused on getting people to agree to listen to a presentation of your product or service. To ensure the meeting is a high value opportunity, and not just a chance to hear yourself talk, you must be on the same page as your prospect.
Here are five things to consider before you schedule your next demo.
What do you expect them to do with the information you provide during your demo? If you want them to take out their pens and immediately sign a contract, you may be selling to your own expectations instead of your clients’.
Have you thoroughly researched their case before you scheduled the demo and asked for their business? Don’t just give your prospect a menu of potential options and ask them to select. Be prepared to make recommendations, based on your knowledge of their context.
Work with your sales engineer to identify the types of questions that will engage all parties seated around the table or computer screen. Combine your knowledge of your prospect’s business case with your recommendations for helping them solve their key problems.
Making a decision to purchase or license involves a change to your customer’s status quo. Customers will conduct their own due diligence. What type of responses can you prepare that minimize their perceived risk? Your responses should fall into the category of how well you understand their business case, revenue history, and customer base. That will demonstrate to your customer that you have done your own due diligence as well.
There will always be trending factors that can legitimately prevent you from closing the sale. Your prospect isn’t obligated to share these with you. If you and your sales engineer conducted due diligence, these factors won’t be a surprise to you. The sale doesn’t stop at the demo. It’s only your signal to stop selling and start collaborating.