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Daily Sales Newsletter May 9, 2024 |
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Hey, this is SalesDaily. It delivers sales insights like pouring coffee into your cup – strong, invigorating, and ready to get things done.
In today’s issue:
Chris Orlob: F.A.V.O.R.I.T.E. framework
John Barrows: 3 strategies for better demos
Mike Gallardo: demo checklist
Leslie Venetz: breaking into key accounts
Apply the F.A.V.O.R.I.T.E. framework
The perfect pitch - preparation is an essential skill
Chris Orlob says that 97% of SaaS salespeople fail to deliver effective demos.
To be among the successful 3%, he proposes an 8-step system called the F.A.V.O.R.I.T.E. framework:
Frame the pain
Start by clearly defining the problem each feature addresses, emphasizing the pain before demonstrating each feature.
Ask a question
After framing the pain, deepen the understanding of the feature's purpose by asking, "How are you handling that issue today?"
Visualize the outcome
Encourage customers to imagine the benefits of the feature, such as doubling rep ramp-up speed, before diving into the details.
Orient to the screen
Briefly guide the buyer through what they’re about to see on the screen to ensure they follow along easily.
Reveal the workflow
Demonstrate how the feature operates and how it solves the outlined problem.
Implant the value
Highlight the feature's benefits both before and after the demo to reinforce its value.
Tell a story
Use a customer success story to illustrate the real-world impact of the feature and make it more relatable.
Elicit a response
Finish by inviting the buyer to compare the demonstrated solution with their current method, asking, "How does that compare to how you’re solving this issue today?"
3 strategies for better demos
John Barrows shares his strategies for impactful demos:
Client Understanding
"Start your demo by confirming what the client knows and expects. This alignment ensures your demo addresses their specific needs right from the beginning."
Prioritize Relevance
"Ask each participant what they want to gain from the demo. Focus on these aspects throughout, especially emphasizing features that solve their problems or enhance their operations."
Interactive Engagement
"Make the demo interactive by linking features directly to client priorities. Engage them with questions about how these features compare to their current solutions."
Simplicity in Delivery
↳ Keep your demo focused and straightforward. This approach helps maintain the client’s attention and ensures they understand the benefits clearly.
Extra Tips:
Prep with a shared agenda: Send a customizable agenda beforehand to align the demo with their interests.
Set clear expectations: Use an upfront contract to outline the demo goals and save time at the end for next steps.
Engage more deeply: Pause the demo occasionally to focus on discussions and ensure engagement.
Two tips for great demos
Nate Nasralla suggests a couple of actionable tips for effectively handling sales demos:
Initiate with a belief-checking question
Early in your interaction, pose a specific question to gauge belief alignment, such as, "Do you believe that having a documented business case for each qualified deal is essential for closing?"
This helps you understand if the prospect's foundational beliefs match your sales approach.
Assess belief relevance
Directly after identifying a problem the prospect is facing, instead of jumping into how your product solves it, ask, "To what extent is this something you’ve considered solving with [your high-level approach]?"
This reveals how much the prospect is already aligned with or open to your method, guiding how you proceed with the demo.
TO-GO
Arthur Castillo: 5 minute crash course on how to build rapport
Mike Gallardo: Demo checklist of one of my best AEs
Richmond Taylor: How I effectively qualify my prospects for a demo
Cipriano Martins: This helped me a TON on cold calls and demos
QUOTE OF THE DAY
"There's no 'one-size-fits-all' demo. Different meeting objectives require different types of demos."
MEME
Don’t be that guy 😂
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