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Things That Make You Say Hmmm: Sales Process/Models

Posted by Trish Bertuzzi on Wed, Apr 21, 2010 @ 10:31 AM
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There is so much great information being published that I feel compelled to share what I find interesting. Here are a few really intriguing pieces that made me stop and say hmmm.

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Is Demo Short for Demolition?

Author: Dave Stein of Dave Stein's Blog
Summary: There are a lot of things to think about when formulating your company’s demo strategy. For a technology company, this is a critical component of building an effective sales process. Doing a demo as an unplanned reaction to a customer request (or demand) is never the right approach. Neither is letting your salespeople lead with a demo because they don’t know how to carry on a discussion with the right people about the customer’s business.

 

Emergence Capital: Profitable Lessons From Freemium Business Models

Author: Tom Foremski of Silicon Valley Watcher
Summary: A freemium model means that you offer a free version of your online service and try to convert some of those users to premium subscribers through offering additional features and value.  Lots of great quotes from 5 freemium model CEO’s.

 

Just Like Russian Roulette, Freemium is a Numbers Game

Author: Lincoln Murphy of 16 Ventures
Summary: Sparked by Ning killing their free version…

So what does this mean for the "Freemium model?" Like most marketing tactics, some will find success with it and others will fail miserably. If you understand that it is simply a marketing ploy and don't build your "business" around Freemium, when it doesn't work, you will be in a better position to recover. If you spend all of your time, money, and resources up front attempting to collect some "critical mass" of users thinking that you'll convert them later when you "turn on the revenue tap" you might have a big, negative surprise waiting for you.

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So, dear readers,  I hope you found these useful and interesting! Please post comments and share your thoughts. Your contributions always make us stop and say hmmm….

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Rules for Conducting Effective Demos: Part 2

Posted by Laurie Page on Fri, Jul 11, 2008 @ 10:33 AM
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Here is Part 2 in our series on how to conduct an effective demo.  This segment focuses on how to ensure that the prospect stays engaged in the process. To review the other posts, click the links below:
- Rules for Conducting Effective Demos: Part 1
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Rule Number Two - Checking In:

Checking-in during the conversation, especially if you are conducting the demo via web/conference call, is very important. 

Checking-in:

  • Ensures the prospect is engaged in the conversation and paying attention. Conference calls can be challenging. A prospect may be checking email or focused on other activities and NOT listening, especially if there is too much "telling" or feature dumping.

  • Allows you to identify additional qualifying information. If you check-in with a question, the response may give you additional insight into the company, the opportunity, etc. For example: "Is what we are showing you in alignment with what you were anticipating?" or "Based on what we have shown you so far, I think we are in alignment with your requirements, do you agree?" Their response will provide the clues that will tell you to either stay on track or move in another direction.

When you respond to a question, always confirm at the end "did I answer your question?" You want to be sure you clearly understood the question and provided enough information to satisfy the prospect.

Demos are a two way conversation.  When you just "show up and throw up" - you pay the price.  You miss the opportunity to further qualify the prospect, address objections and set the stage for the next step in the sales process.

Happy Selling!

 

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Rules for Conducting Effective Demos: Part 1

Posted by Laurie Page on Thu, Jun 19, 2008 @ 10:28 AM
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Conducting demos is an established step in almost every sales process. I thought I would share with you some of the skills that you need to acquire to ensure that the demo is effective and showcases not only your product but also your sales ability.

Rule Number One - Establish a Demo agenda:

From a communication perspective this:

  • Sets a vision with the prospect that you are organized and professional.
  • Sets the stage for what you are going to discuss.
  • Communicates an estimate of the length of the meeting to show you are cognizant of the importance of their time.
  • Allows you to check-in with the prospect to make sure you are going to cover everything he/she hopes to accomplish.
  • Allows you to create a vision for what you want to accomplish.

From a process perspective this:

  • Should start with a first bullet that allows you to take a few seconds to confirm the prospect's pain, reiterate the conversations you've already had with them. Things may have changed and you may have additional participants in the meeting that aren't up to speed.
  • Forces you to stay on track.
  • Allows you to control the meeting. If the prospect brings you off track, you are able to say something like "keeping with the agenda, I'd like to continue discussing xxxxx".
  • If you are nearing the end of the meeting, but would like to continue, you should always get the prospect's agreement before you proceed. This is not only courteous but also serves as a qualifier to see how engaged in the process they are.
  • Should always end with this bullet "Determine Next Steps". This documents the fact that both you and the prospect have committed to defining what the next steps in the process should be.

So, hope this helps. Lots more to come in the future on how to deliver effective demos. Stay tuned!


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