We have given thousands of Data Room demos over the past 14 years. If you are providing a Software As A Service (SAAS), then to be able to convince your prospect about the benefits of paying for such a product, you will have to give demos. These demonstrations of your product can be in person, or can be provided through online tools such as JoinMe, Go-To-Meeting or Webex. Irrespective of how you choose to give your demos, there are some key ingredients which make for a brilliant data room demonstration. Here they are:
1. Be Enthusiastic
Enthusiasm leads to results! If you aren’t enthusiastic about your product, it is evident by your tone and your body language. Believe that you are selling the best product in the market. Know that your service will help your prospect benefit immensely in terms of time saving. Take all that energy and conviction to pitch. Enthusiasm might be difficult to measure but its easy to feel. Its the X-factor that can make or break the deal.
2. Speak Slowly
You might know the technology inside out but the listener doesn’t. As Data Room providers we have gone through each and every step hundreds of times. We have added, deleted, modified, restricted all types of data and users to intuitively know how the functions work. The user however is looking at it for the first time. He needs to be taken through each and every step of the Data Room slowly just like we were when we got trained initially. Speaking slowly is essential when you are giving Data Room presentations. It allows the listeners to digest the messages you are conveying.
3. Ask Questions
In a 30-minute presentation if all you do is talk without there being a dialogue I can guarantee that you will lose your audience. Our attention spans are limited so you cannot afford to go on a rant. What you do need to do is take a pause after every stage and ask the audience whether they have understood and whether they have any questions. Once your audience gets involved 30-minutes will pass without you even knowing it.
4. Give A Synopsis
A Data Room has hundreds of features. At the demo stage you are not trying to show the client how many features you have. What you are trying to do is show just enough so that they are convinced that the technology has everything they require to handle the requirement. At this stage of the sales process the ‘less is more’ principle applies more than any other.
5. Ensure That You Are Prepared
If you are giving the Data Room demo online then log on 30 minutes before to ensure that the third-party software you are using to show the demo is working properly. Check all the logins credentials of your demo site. Is the user access correct? Is the admin access correct? Are you calling them on the phone to take them through it or are you using VOIP? You should always have a backup in case the VOIP does not work well enough. Early preparation will make you be punctual while giving you enough time to sort out any eventualities that may arise. Remember they are judging everything you do!
This is a crucial last step that is often ignored. After giving your Data Room demo thank them for their time via an email. You should use this opportunity to provide supplemental information that can help them make a more informed decision. Going the extra step can be the difference between you and your competitors.
Virtual Data Room demos are a part of the business. Any business that provides an online service will need to provide demonstrations of their product, especially if the product costs above $1000. As a sales representative you should know that to convert a larger percentage of the overall data room demos, you need to be enthusiastic about the product you sell. Without the enthusiasm, the tone, delivery and energy required to convince the prospect will fall short of the mark.
During the data room demo you need to speak slowly and constantly stop to ask the listeners whether they have any questions. This dialogue creates an interactive environment to connect with your future client. Also make sure that you don’t go in too much depth about the features available on your platform. Your data room presentation should have just the right amount of content for the prospect to understand the USP of the product and its differential; anything beyond that point is too much.
Being prepared will instil confidence in you. Be early and test every factor thirty minutes prior to ensure any glitches can be addressed on time. Post the demo remember, you need to carry on the conversation. Send your prospect an email to thank them for their time and provide any supplemental information that will help make the decision to choose your product easier.
Have you ever given a demonstration? How do you ensure that it goes brilliantly?