Preliminary Business Case
Wasting Silver Bullets
During each sales cycle you only have so many silver bullets to use. Once used, they typically cannot be used again. The demo is one of those silver bullets. It can either propel the opportunity forward into a meaningful engagement or leave your prospect flat and unimpressed. Too many demos fail to qualify any solution value. Many demos are simply "Feature Machine Guns". They begin with "feature A" and continue non-stop until they arrive at "feature Z", where upon the Sales team asks, "What do you think?" There is a better way.
Interactive, Qualifying and Quantifying Demos (IQ2)
Imagine a demo scenario which is highly interactive involving the prospect, the Sales Engineer and the Account Executive. Instead of firing up that feature machine gun, the Sales Engineer walks through the product up to the first feature of value and stops and says, "before I show you this amazing capability, how do you do this today and how long does it take?" At the whiteboard, the Account Executive is writing down the information and converting it to an annualized number. Now that the prospect and our Sales Team understand the cost of how they do it today, the Sale Engineer shows the amazing feature and BOOM! This value is clearly understood! The Account Executive confirms the annualized value on the white board and converts it to dollars so that now it is clearly understood the first feature demo'd would save them 5,000 hour per year or approximately 2.5 FTE costing about $250,000 annually. The Sales Team proceeds to show the remaining features, only the ones which have value, not all 100 of them and calculates the annualized value.
At the end of the demo, the prospect and Sales Team have produced a preliminary business case and the Account Executive sums up the value and says, "Based on the numbers you provided, it appears our solution has the potential to save you $2.3 million dollars per year. I would like to propose we perform a thorough POC, deep dive etc. and process assessment to validate the business value. May we meet with the boss and get his sponsorship to do this work together?
At the end of the IQ2 demo, you know your value to the prospect, and if it is strong, you have amazing leverage in the account. If not, you have quickly qualified yourself out of the deal. So, what does your demo look like?
Training course 1/2 day
Annotated training deck
Electronic student workbooks
White boarding methodology and value calculation
$25,000 single demo
Expenses billed at actuals
Read the Linkedin article that resonated with over 800 sellers:
and find out who your team demos like.