Demos and Deal Velocity
We are members of a number of sales organizations and some of the buzz words that we hear really resonate, especially when it comes to demos. One of the buzz words is Deal Velocity. Unlike â€œleveraging ai,â€ or â€œwindowpane techâ€, Demos and Deal Velocity have a lot to do with one another and we can show you some actionable ways to increase the deal velocity TODAY with Demo Solutions exercises and tips.
When your Deals Stall
There are a number of reasons that your deal stalls after the demo. Deal Velocity directly references this and is used when discussing the momentum of the sale. Anyone in sales knows that it rarely is an even pace, despite efforts of sales managers everywhere. Why the demo? The demo should be your POC. By integrating techniques that prove value during your demo, you should prove the concept and move to close during your demo. If a demo is delivered too early, without enough discovery, or the demo does not address concerns or objections, you will easily get a stalled deal.
When Deals Spin out of Control During Demos
Another issue related to Deal Velocity during demos is when you have a person who is not trained in the technology, but only the script and deck, delivers a demo that overpromises. This can happen because the demo was delivered at the incorrect time, and it can really place undue pressure on the rest of your team if you cannot make a deal work because the demo overpromised.
Deal Velocity In Control
When your Deal Velocity is at a good pace, you close during your demo. Your demo becomes a negotiation with the right players at the table to really gauge if your solutions are going to work for a particular client. The natural conclusion of a sales cycle or the penultimate moment of the sale is the demo. Instead of a POC, your demo has the power to show a client the value, of your SaaS software, as it relates to their needs, then and there.
How to Consistently Maintain Deal Velocities
- Always be Discovering- Discovery happens before, during, and after your demo. Your discovery needs to make itsâ€™ way to your demo, which needs to prove value beyond a shadow of a doubt, that your software is going to be the solution they communicated they needed.
- Understand when to Deliver the Demo- Delivering your demo at the right time, with the correct discovery, is crucial to being able to maintain speed down the pipeline that is your sale. Too soon and you risk stalling, too late, and chances are, they have found another solution.
- Customize Constantly- always customize your demo decks and demo scripts. For each sale your need clear communication between teams and customized demo decks and scripts. Clients know when they are being delivered a stale demo and they can tell. If you have a full sales team, executives available, product managers, and marketers, bring them in on the sale, revenue is not just on you!
Does this sound like a lot of work? It can be easily accomplished with Demo Training for your team members, and Demo Coaching with Demo Solutions. We also offer Sales Process Consultation to get your Deal Velocity at speed to succeed.
Want to read a bit more on Deal Velocity? Try this article on Sales Velocity