The Advantages of Investing in Product Demonstrations
Product demonstrations are an age-old sales tool that has apparently fallen by the wayside in the view of most modern brands and businesses. However, they continue to possess great value.
Regardless of whether you sell primarily in physical retail stores or through e-commerce channels, you shouldn’t discount the potential for product demonstrations. In fact, it might well be that you should be focusing on them as a key component of your overall sales strategy.
Why product demonstrations matter
Product and service demonstrations are valuable in a number of interesting ways. Typically, the rewards that individual firms derive from them are directly related to the industry they’re in, or the marketplace in which they sell.
For new products and complex services, product demonstrations can be particularly effective. For example, Ultra Torq, a leading tool supplier for various industries, offers complimentary demonstrations to potential buyers in order to explain the intricacies and complexities of individual tools and parts.
Businesses in the software development industry also find demonstrations extremely useful. Frequently they’re the only practical way to introduce solutions that have never been seen before.
It’s useful to note, however, that the value of a demonstration may go far beyond the introduction of new products to buyers. Demonstrations can be linked products that are already popular products with the goal of stimulating interest and enhancing the perceived value of the offering.
Furthermore, as Neil Kokemuller points out, “An effective demonstration also serves the purpose of instilling a sense of ownership of the product to the prospect.” He notes how car salesmen like to get interested buyers behind the wheel so they will experience what it would feel like to own the vehicle.
The final benefit of an effective demonstration is that it’s capable of backing up a claim or conquering customer concerns regarding the efficacy of a feature or new technology. This can be particularly powerful when a company releases a new product or introduces its service to an entirely new industry, because consumer skepticism is the norm under these circumstances.
Tips for effective product demonstrations
While your precise approach to a demonstration will entail planning and evaluation of market-specific details, here are a few general tips to get you thinking:
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Tell a story. The best product demonstrations are the ones that tell a compelling story and command an emotional response. Don’t simply focus on the product or service by itself; home in on the value that’s derived from it.
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Instill urgency. According to experienced salesman and speaker Tom Hopkins, a product demonstration is worthless if it lacks some level of urgency. The audience needs to be compelled to make a decision; otherwise, he or she will leave the demonstration and promptly forget what happened.
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Provide proof. Finally, it’s valuable to include some sort of social proof or customer testimonial with every demonstration. Your audience desires to see unbiased proof that your product or service works, and a third-party testimonial or confirmation is exactly what will build credibility with them.
Don’t underestimate their value
It’s astounding how many businesses write off the tool of product demonstrations without considering the benefits and advantages. If you’re interested in expanding your current sales strategy and adopting a proven method for drumming up interest and increasing engagement, give product demonstrations a try this year.