How can you use product demos to justify your product's price point?

In my experience, it's pertinent to first determine the painpoint that the customer is feeling. The demo should then showcase 1) how the solution alleviates that painpoint, and 2) goes beyond and extends the benefit by showing other areas of benefit that the customer may not have thought of. Ideally, the demo should help quantify the value of the solution to the customer

We have developed a Tactical Fingertip for a robotic gripper based on an electro-active Polymer.... lost you there! So to demonstrate light touch we can pick up with a robotic gripper a posted note, or to show sensitivity place the sensor on the persons wrist and show the heart beat and subsets!

When designing demos I use this checklist: 1) Show that my product is easy to use - the cost to adopt it is low (like an iPhone!) 2) Avoid doing a generic walk through - boring 3) Group together actions that achieve a goal and explain clearly the benefit - qualitative or quantitative 4) For recorded demos, keep them short. Attention diminishes after a few minutes (2 minutes is best, 5 minutes max) 5) For live demos, make it interactive - ask after every group of actions if the customer faces the same challenge and if what he saw solves it 6) Select to demo group of actions that you know from existing customers that are helpful. They do not need to be unique or really innovative. Doing something easier/simpler is also important!

The customer of today has moved beyond these points. The points mentioned are valid. Yet what makes it more important in branding is value added services. These services differ from brand to brand & company to company. When everything else remains same the only thing that remains in differentiation is matching the perception and reality of value added services. These VAS differs for different segments. Innovation in VAS will make them leaders in future. Water Purifier( EF), Mobile( Apple) , Milk(Amul ) etc are few examples. In every segment there is a challenger innovating VAS. Smart marketeers will always focus on VAS and not just what a product offers.

I never demo anything to anybody without first qualifying what my audience values. When speaking with a customer, hopefully, what they value ties to making money or saving money in the end. I will demo features in the product, hopefully ones my competitor doesn’t have, that can help customers achieve a future state more in alignment with their values.

Take the time to see how your users use existing products, competitor products, and other alternatives. Highlight their high points (delight moments) and low points (disgust moments) and map it to what could relate to your product demo. Additionally, the "script" or "talk track" of the demo is equally important ad the demo itself.

Practice sketching out your customer’s network, systems, IT, people, supply chains, etc. and how your products and services overlay the customer’s ecosystem. Add in key decision or transaction points to the picture, to enable a way to show your team’s advantages. Based on your research of the customer’s previous and current sales mix and trends, focus on best opportunity areas in the picture you have created for best initial benefits for the customer and project expected gains based on the customer plans. This can become a foundation to use your overlay to demonstrate results and generate interest in post sales services to keep the momentum.

Dig into the details by > Developing Key Questions: Start with 1-3 questions that revolve around the value your product provides. These questions can help you validate or adjust your product narrative. Ex: inquire about specific pain points that your product addresses to translate into a value-based demo. >Analyzing Usage/Win-Loss Data: Dive into your product's usage data to understand which features are most used or ignored. Additionally, explore why customers churn and don't upgrade. This data provides insights into what aspects drive value. >Conducting Interviews: Speak to your existing customers, as well as prospects in your target market. Approach these conversations with a journalist's mindset, aiming to uncover valuable storylines.

I've found a discovery call to establish the problem statement is crucial before a demo. Exact trigger for change(regulatory/ audit/ compliance/productivity loss/ efficiency etc.) if known can help conduct successful demos.

Knowing your audience is key. But knowing how to link your product value proposition to your audience pains is vital, specially during a demo call. If you can identify their pain and you can show how your product can help + link this to a £ figure, you are way ahead in the deal. Know your audience, identify their pain but help them realise how much money are they loosing by not tackling this with your solution

Be in client's shoes! At least for once, go through the processes, patterns of use by the "client" in question. It will make your stories, use cases more relevant. Even in sectors where there's high level of homogeneity in policies, procedures and compliance, it is quite remarkable how each Bank / FI handles a particular scenario differently. One pertinent example being Account Opening process at banks.

A strong value proposition becomes the North Star guiding your demo. People don't just buy products; they buy better versions of themselves. If your demo can vividly paint that picture, you're golden! For instance, if a SaaS tool claims to improve productivity by 30%, the demo could walk through a real-life scenario where a team, previously struggling with manual processes, implements the tool and visibly boosts their efficiency. Actual metrics and testimonials then hammer home that this isn't just a theoretical claim, but a proven result.

In my experience, stating what another customer has said about the value of your product at the beginning is key. 1) It makes your audience curious 2) Subconsciously they would like to either prove the other customer wrong or follow their lead (fear of being left behind) 3) It will make your audience focus to understand if what you demo justifies the statement. So, choose an interesting and impressive value statement, and make sure you justify it with your demo!

Demonstrating tangible ROIs is pivotal in justifying the price point. Showcase how our product doesn't just meet needs but elevates business outcomes. Highlight specific features that directly contribute to efficiency, cost-savings, or revenue generation. Moreover, illustrate how our solution aligns with their objectives. Emphasize the transformative effect our product can have on their business. Furthermore, personalize the demo. Let them see themselves using the product, making a real impact. Show scenarios where they become a catalyst for change within their organization. This personal connection reinforces the value and justifies the investment. It's all about the impact the product makes.

I am always try to avoid an apple vs. apple comparison since theoretical max performance is not always a good metric to measure effectiveness. For example, if an mobile operator provide 5G services which boast (best-effort) max 1Gbps download speed and its average speed is 200Mbps, that would be a high quality service. On the other hand, even an reseller (MVNO) of that network may go up to 1Gbps theoretically, but its actual average speed may be 20Mbps or something. Normal consumers do not care differences. So in the today's all best-effort technology world, it is vital to avoid a simple apple vs. apple comparison for high end service providers.

La famosa Propuesta de valor. Es importante saber que ofrecemos, características, diferencias, calidad o simplemente, a veces, solo tener un buen servicio o que sepan como atenderme en forma personalizada, genera una actitud distinta o positiva hacia productos. Y descubro la preocupación de mi vendedor. En los pequeños detalles esta la diferencia.

In my experience, crafting a compelling value proposition is like preparing a gourmet meal. Your product is the main course, and the value proposition is the sizzle that makes it irresistible. Think of your potential customers as discerning food critics. They want to know why your dish (product) is worth savoring. So, your product demo becomes the grand presentation, complete with stories (secret ingredients), testimonials (rave reviews), and case studies (before and after transformations). By the end of your demo, customers should crave how your product saves time, money, and resources, enhances performance and quality, and boosts satisfaction and loyalty.

No one likes 
 1) being pitch slapped 2) having their eyes glaze over watching a demo of features with no context. Seriously, I've watched enough Gong recordings and talked to folks to know - it's painful for all.
 The best demos are when 1) the person running the demo has done their homework on the prospect AND 2) based on the background research they drill into specific product benefits aligned to pain Features only truly become valuable ($$$) when they directly address the specific problems of potential buyers.

 Considering budgets are shrinking or being heavily scrutinized showing clear ROI, impact on pain is key - so it's actually one step further than focusing on general benefits, not features - it's being specific and tailored.

A feature only becomes a benefit to a potential buyer if it solves their issues. Listing a variety of product features adds little value if they do not apply to your customers needs. Taking the time to identify customer needs in discovery and then demo'ing the key features that relate to them creates value and buyer confidence.

The problem not mentioned here is that almost always products have many features, and thus many benefits, so you need to carefully select which ones to demo. Just like too many words may confuse a listener and make her forget the point to be made, too many benefits may also confuse your demo audience. Remember to focus on few but really helpful ones, and spend time to develop demo scripts that clearly showcase the benefit.

Features ===> Benefits ===> VALUES Focus on the differentiated value that your product provides. Ensure your prospect sees the clear differentiation that your premium offering provides through a hands-on demo interaction that makes the value more tangible. Align your product's value with your customer's perceived value to justify a premium value-based pricing model.

Benefits can outshine the features, in my opinion. I see demos for fragrance and candles to be wildly successful. For example, a Nest candle may be $75, but it's burn time is 3x longer than a cheaper candle and scent is more potent. By the time you buy 3 of the cheaper candle which smells half as nice you could have invested in a nicer candle. Same goes for perfume, depending on the brand, sometimes the scent wears off after a few hours. Whereas other brands, the scent is still on your clothes the next time you wear it. Demos can help a consumer make a game time decision and close a sale faster than a product without a demo. Try before you buy, especially for higher price point products, always helps validate the price point.

In my experience every fature may be a great benefit for someone. Listen to your customer needs or even wishes and point that particular characteristic that makes it special.

Agree. If you focus on benefits, it will be easier for the team to understand and introduce the real features Which can give a product a competitive advantage over competition.

Leading with capabilities in your product demo is essential. Your capabilities directly target your customers' pain points, establishing credibility and trust. When you showcase what your product can do effectively, it's easier to connect those capabilities to the tangible benefits they bring, making your product's value clear. Start with what your product can achieve, and then show how it improves customers' lives, ensuring a more engaging and persuasive demo.

Show innovation. Even if it is an extra use-case for your demo that the customer has not asked for. You want them to come out of the meeting saying "WOW, that was impressive" and remember you. Otherwise you might end up in a situation where you show value, but the value is the same. This is especially true for expensive enterprise products for large customers. Often those customers buy into your company and your vision and you want to be able to demonstrate it.

Uff. Volvemos a la personalización del producto o servicio. Las características en estos tiempos, es como hago ganar dinero a mi cliente, a mi compañía y a mi. Creo que es la característica principal, que precio manejamos, sabes el margen de ganancia? Sabes cual es el breack eaven o Pubtode equilibrio del valor del producto. Para que tenga un precio "Competitivo" y logremos un buen negocio. Esta bien presentado en el PDV el producto? El cliente o sus empleados, están a gusto con nuestro producto? Como ayudamos a vender más a nuestros clientes? Eso es para otro foro. Pero tengan siempre presente... como ayudo a mi cliente???

Four essential ways to overcome objections are- 1) Peer review sites like G2/ Capterra/ Software Suggest help provide independent reviews. 2) A cheat sheet for objection handling is handy for seller enablement. 3) A battlecard collateral compared with the main competition is helpful to eliminate them early in the conversation. 4) Migration process, change management & support are other vital areas where prospects usually have questions or objections.

Los más importantes es crear un Manual de objeciones. Eso te lo da la calle. Entender los motivos de porque nuestros clientes no nos compran y estar 100% preparado para la respuesta clara y concisa. Por mi experiencia, esto marca un profesional de la venta. Cuando damos una buena respuesta, los mismos clientes quedan sorprendidos y generamos la Confianza.

For products, especially software with a larger sales cycle, the CTA doesn't necessarily have to push for an immediate purchase. Instead, it can lead to nurturing activities, like webinars, deep-dive sessions, or a series of educational emails. These allow potential customers more touchpoints, further demonstrating value and building trust, which can then justify the product's price point. The goal is the same, always walk out with an actionable next step.

Al cerrar la venta efectiva, debes hacer sentir a tu cliente satisfecho con el negocio y ahí podemo marcar nuevamente una diferencia, por ejemplo el marketing en el punto de venta. Lanzamiento del producto, apoyo con material POP, concurso de venta, sorteo promo local, etc etc. Esto lo puedes proponer si conoces a tu cliente, in situ no sentado en la oficina. La calle te da el conocimiento. Cierto?

Consider having a point person (perhaps in product management or developer) that is focused on the demo environments - they can be your go-to person to ensure you have good data in the demo, data that shows ROI and analytics/performance information that is compelling to your buyer. Fake data or missing data in a demo, or non-industry related demos often miss the mark - the prospect can't see themselves in the story - they need to see metrics and use cases that pertain to them and what they need to achieve to move the need for their business. With great, relevant data, you can definitely showcase the value of your solution and justify the price of your product.

I think we're missing the main point here: Focus on proving how you solve their most valuable and critical problem in a unique way. People pay for value. That's what the prime role of a demo is about. And this is about three simple things: 1 - Showcasing how you solve their biggest problem, not more, not less 2 - Exceeding their expectations in the way you do that 3 - Minimize the time you have to use the software And by the way: my recommendation - Forget the word ‘demo’ and replace it with ‘Proof of Value.’ It changes your mindset.

Pricing is a concern only when the ROI is unclear. Your demo should effectively highlight one of two things: - how your solution saves them money - how your solutions helps them make more money You'll also want to make sure that users are educated before they join a live demo, so what you show on the website, share via email, or other channels should be aligned with your demo.

Highlight the unique value proposition and key features of your product during demos, emphasizing its tangible benefits and addressing specific pain points to effectively justify the price point and showcase the return on investment for potential customers.