Yesterday, a colleague asked what tactics I use in my demo that ultimately increase average deal size.
It’s a great question, which I’ll answer using 3 simple rules and reviews of my favorite gelato shop, Capogiro:
Rule #1: Determine what they care about, and demo THAT.
Notice the red quotes – people who value high quality, variety, and “brand” are willing to pay MORE for LESS PRODUCT.
The key here is that if you can effectively execute the Just F*ing Demo! 5 minute discovery, your demo (or at the very least, your first demo) will end up showing less product and seem less overwhelming. As such, you won’t be forced to strip away “all that extra stuff we don’t need” – which ultimately decreases your deal size. No one is going to strip away features without also stripping away dollars.
Rule #2: Simulate the real world
Maybe my native Philadelphians are just cheapskates looking for a free sample, or maybe they’re concerned with minimizing the risk of choosing the wrong flavor. As such, you’ll notice they love samples (in blue).
Try to frame your demo as closely to how your audience would use your prospect as possible. Using the “Macro-to-Micro” Just F*ing Demo! technique, confirm the big picture, and at the right time in the “micro” phase of the demo, overtly call out how THEY can achieve their goals through your solution. For example:
“On this screen, you’ll be able to configure the system to do ABC, which you mentioned earlier is what you are really driving at. Click A and then B, and boom, you’ve generated C. How does this align with what you guys are doing today, versus what you want to do?”
To maximize impact, use an open ended question getting the audience to describe to themselves how this feature aligns with what they’d do in the real world. Again, this helps you preserve deal size, as prospects will less look to “discounts” or “pilots” to minimize risk.
Rule #3: Demo upsell/cross sell features carefully (Value = Additional Return - Additional Work)
“If you want bigger portions, go to Dairy Queen!” (Green)
People don’t just want more product; a massive vanilla ice cream cone will ultimately result in a brain freeze. But as reviewers note, a perfectly paired second flavor can do wonders for a small gelato.
Adding cross-sell and upsell features into your demo is an extremely tricky exercise, for as noted in Rule #1, you must take great care not to overwhelm.
Thus, look for opportunities to demo additional features that:
1. Align with what the prospect cares about (Value);
2. Will, when combined with what you showed in your core demo, increase their overall return (Additional Return);
3. Will decrease - or only marginally increase - the amount of work they need to put into the system (Additional Work).
"Earlier when you mentioned you wanted to achieve C, I noted that you'd probably also be interested in X (value). Mind if I switch gears to that? X is an additional component and cost, but it's been improving [metric] for clients that use it roughly 10-15% (additional return). To configure it, all I need to do is Y on day 1, and then the rest is automated (only marginal incremental work)."
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