Performing a Successful Product Presentation

 
 
getty_539953664_213316.jpg

In every product demo the first thing you need to establish is who your prospect is. Meaning, are they a buyer? Or are they an influencer? Once you have established their role in the purchasing process you can proceed with your presentation.

We will break down the 3-Stage Presentation and how a sales rep should approach their prospects. These stages are:

1. Build

2. Product

3. Closing

The 3-Stage Presentation is perfect for SMB style presentations. Why is this a good fit for your business or sales team? Your product has a simplified value proposition, easy customer adoption, and you target a quick turnaround on your sales cycle. Often this presentation strategy applies to teams with a sales cycles of 30–45 days.

BUILD

During your Build Stage a sales rep is tasked with learning about the prospects needs, goals, and different roles of users in the sales process. In most sales presentations the Build Stage should eat up the majority of your scheduled time together. Your goal should be a 50/50 talk track.

So you’ve established who your prospect is. Let’s say for example they are an influencer. They will be using the product themselves, but need to sell someone else on why the purchase is valuable to the business. Here are some questions to ask:

  • “How has not having a product influenced your day to day ability to accomplish your duties?”…….“How has that impacted your team, your business, your bottom line?”

  • “What is your goal for a completed project for this product?”….. “what impact or involvement does your buyer have in the project?”

  • “who else on your team would be a user of the product, or directly influenced by it?”

  • “can you tell me about the last issue you had due to not having this product?”…. “can you tell me about someone else’s experience or issues?”

Essentially you are laying the framework for the way you present your product.

PRODUCT

animated presentation.jpeg

The stronger your build process is, the stronger your product section will be. If you didn’t mesh well with the prospect, or didn’t receive good information, then your product presentation will most likely be ineffective and your prospect will not be engaged.

How do you structure your product presentation? Structure it in the same way that you just received information/answers during the Build portion. Your talk track must resemble their information. Let’s say they presented 3 major areas where they struggle to accomplish their goals due to not having your product, and the impact on their business. It is CRITICAL that you address at least 2 of these pain points on every page/section of your product.

Here is a sample of how to structure your product presentation:

Product Section 1:

  • How product solves pain point 1 & 2

  • “Do you see how this will impact / improve your process?”

Product Section 2:

  • How product solves pain point 2&3

  • “Can you see how great it will be once you roll this product out? How do you think it will improve your teams process?”

Product Section 3:

  • How product solves pain point 1, 2, & 3

  • “Do you see how this will impact / improve your process?”

Keep in mind, even though your goal is for a quick turnaround, sometimes it is more effective to spread steps 1 & 2 out between multiple calls. The art of holding back info for another call will intrigue and build more anticipation for your prospects.

CLOSING

wolf of wallstreet.jpg

After completing both of the first two stages you are probably transitioning into a stage of building a presentation of your product, pricing, case studies, etc. You have probably discussed pricing already, or have a call scheduled for this. Biggest pointer: present pricing with confidence and suggest they pricing/service level that you think fits them best. If you think your price is too high, then they will too. Be confident. Period.

How do I close a deal when the only people I have met with are influencers, not buyers. This is common. Nearly 80% of all sales calls are done with someone who ultimately does not have signing authority. You aren’t alone.

The #1 key to your Closing process is (and always will be) your sales pitch that you send. If 8 out of 10 buyers never join a sales call, you need to bring the sales call to them. A slide deck isn’t going to cut it. If you are asking for a multi year contract worth tens of thousands of dollars, do you really think a slide deck is sufficient? It’s not.

Build a sales presentation that will actually close a deal for you. Remember, this is the only sales pitch that you will have with the buying team. Things to include:

  • Video

  • Case Studies

  • Customer Testimonials

  • Slide Deck (if needed)

  • Spreadsheets (if needed)

Why do you want this all in one presentation? The buying team will be full of different personalities, and if you are looking to close the deal as soon as possible you do not want to waste time exchanging emails about what they need. Get out in front of it and impress the team.

hubPitch offers a free sales presentation subscription, as well as an enterprise app for your team. Use it for free, tell your colleagues, or even work with your team on building better sales presentations.