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Product Demo 101: Learning the Basics

What’s one of the best ways to convert potential clients into paying customers? Aside from presentations where you get to wow your audience, there’s another scenario where you can achieve the same results. Imagine it: You already have a prototype of the product you’re trying to market, and you’re looking for people who will gladly take your offer; you think an amazing deck won’t be enough, so you decide to take things up a notch and do a demo.

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However, you don’t know the first thing about product demos. Sure, you’re a rock star when it comes to presentations and public speaking, but demonstrations can be different. For one, instead of handling two important elements—yourself and your deck—you add one more: your product. And balancing that act can be stressful, especially when you’ve got hundreds of eyes staring at you and you know that a lot is at stake. Another is that there’s a new dynamic in audience engagement, a level that places you closer to them—and them to you and your product.

Look at the bright side, though. If you do remarkably well, then you’re sure that your audience will take a good, long, hard look at your product. And when they like what they see, they might just want to have your offer. Then, you’re on your way to closing deals left and right. But that is if you do remarkably well.

So, how do you go from A to Z of a product demo? What can you expect from showing off your product in front of a live audience? Are there even benefits to doing so? How do you even begin preparing and how do you start off a demo? Let the following infographic tutor you on the basics of a product demo, and the dos and don’ts during the proverbial curveballs during your time onstage.

Resources:

Kokemuller, Neil. “The Purpose & Benefits of a Product Demonstration.” Chron. n.d. www.smallbusiness.chron.com/purpose-benefits-product-demonstration-55113.html

Presenting Your Business Pitch with Confidence

Not everyone has what it takes to be an entrepreneur. There’s a wide set of skills and traits you have to possess in order to become an effective business leader. Among those traits is self-confidence, a natural magnet that can draw people to you and make them want to listen to what you have to say. As such, it’s an invaluable skill during a business pitch.

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To entice potential investors, you need to appear and sound confident while pitching your idea. Investors are naturally drawn to leaders with high self-esteem because it signifies strength of character, another trait necessary to lead a business venture forward. As Larina Kase, a psychologist and author, said, “True confidence is not thinking that you’ll get a great result. It’s knowing that you can handle any result.” When the path towards success is dark and murky, confidence can carry a strong business leader through.

Self-Confidence: The Top Trait You Need for a Business Pitch

How to Boost Your Confidence for a Business Pitch

There are things you can do to pump up your spirits before facing investors and presenting them your business model. Here are seven of them:

1. Look and sound the part

The thing about confidence is that you don’t need to have it to look the part. You can carry yourself with poise even if you’re feeling intimidated or scared inside. There are a few things you can do to package yourself for success: dressing well, correcting your posture, minding the pacing of your speech, using precise language, and smiling. In other words, by making a conscious effort to look confident, you can make a good impression.

2. Exude conviction from every pore

To sell a business idea, you should be able to show investors how passionate and committed you are. They’ll try to gauge whether you really know what you’re doing, so make sure that you remain composed but enthusiastic throughout your business pitch. Make the investors believe in your potential to succeed. To achieve this effect, you have to communicate a certain aura that tells investors how confident you are about your product. This means avoiding uptalk and articulating a statement with a declarative—not an inquisitive—tone.

Self-Confidence: The Top Trait You Need for a Business Pitch

3. Know your key differentiator

To identify your business’s primary selling point, ask yourself what your edge is as opposed to competitors. Why should investors choose you over businesses similar to yours? You must have something unique to offer to make your business pitch stand out. Apart from this, you should also be able to explain what your worth is to investors. How can they benefit from your business? What gains can they expect, and when?

4. Find an external manifestation of success

Perhaps the best way to gain self-confidence is to find an external manifestation of your business’s capability to survive and succeed. It’s easier to sell a business idea if you have something tangible to back it up. An example of an external validation of success is a solid customer base that raves about your product. A sizable social media following that has positive things to say about your company is also a good proof that you’re breaking ground. Determining your niche is crucial during the first stages of business development because if you sell to the wrong customers, your business is bound to flop. On the other hand, with the right audience, you can improve your revenue and boost your credibility, which will ultimately attract investors towards your business.

5. Solve problems before they appear

Amateur entrepreneurs who only want to impress investors often make the mistake of acting like they’re immune to disasters. They’re hiding behind the assumption that their business model is so perfect, it can’t possibly be taken down by any future problem. As a general rule, before you present your business pitch to an investor, you should think through the possible challenges that you may encounter along the way. If possible, look for various solutions for each issue so that if one fails, you’ll have a backup to fall on. Set up contingency plans for when things don’t go as planned. By making sure that you’re prepared for the ugly as well as the good, you’ll be able to present yourself as a competent leader who can weather the storm when the worse comes to the worst.

Self-Confidence: The Top Trait You Need for a Business Pitch

6. Rehearse and refine your business pitch

Preparation is key to any speech. As with any other field, achieving a certain level of self-confidence takes time and an immense amount of effort. Research also plays a major role on how competent and confident you will appear in front of a panel. Make sure that your presentation has no loopholes and that everything goes as planned.

7. Worry less and just do your part

Fussing over the aspects of your business pitch that you can’t control will only stress you out. Instead of worrying over the negative aspects of your situation, just focus on the positive. Don’t zero in on your weaknesses as that will only distract and discourage you. Instead, strive to turn your weak spots around and let go of the things you can’t change. Optimism can go a long way in boosting your self-confidence, so try to appreciate the good parts as much as you can.

Above all else, smile even if you don’t feel like it. As Christine Clapp, a public speaking expert at George Washington University, said, “Smiling not only makes your voice more pleasant to listen to; it also conveys confidence…. You will appear friendly, approachable, and composed.” That reason alone should be enough for you to flash a smile during a business pitch.

If you follow the aforementioned tips, you’ll be closer to improving your self-esteem. Just be patient and remember that confidence is built over time. With determination, you can stand in front of a panel of investors and present your business in the best light possible.

 

 

 

Resources:

Connick, Wendy. “How to Find Your Unique Selling Proposition (USP).” The Balance. June 19, 2017. www.thebalance.com/how-to-find-your-unique-selling-proposition-usp-2917402

Landrum, Sarah. “10 Secrets to Sounding Confident.” Fast Company. July 20, 2015. www.fastcompany.com/3048748/10-secrets-to-sounding-confident

Lobb, Jennifer. “How to Pitch Your Business Like the Pros on Shark Tank.” Nav. December 28, 2016. www.nav.com/blog/how-to-pitch-your-business-like-the-shark-tank-pros-15102

Whitmore, Jacqueline. “9 Ways to Show More Confidence in Business.” Entrepreneur. September 30, 2014. www.entrepreneur.com/article/237634

“How to Give Investors Confidence in Your Business Idea.” Virgin Startup. n.d. www.virginstartup.org/how-to/how-give-investors-confidence-your-business-idea

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Are Mind Games Still the Secret to an Effective Sales Talk?

If you’ve been in direct sales, then you know what it’s like to: 1) get the initial attention of a potential buyer, 2) maintain said attention on you, 3) promote your product, 4) keep the customer from walking away, 5) end your spiel, 6) somehow manage to induce your prospect to purchase your offer, and 7) thank your buyer and end the transaction. Rinse and repeat. Of course, this may be a gross, basic oversimplification of the whole process, but the main steps are there.

Let’s face it: even if trained salespeople have gone through the cycle hundreds of times, it’s statistically impossible that they have a 100 percent success rate. The next best thing is to reduce the number of naysayers. But how does that work when people are turned off by sales talk? By playing on their psyche.

Let’s be clear: this isn’t manipulating their minds into buying what you’re offering but rather talking to them and making them see the benefits of having your product. For that, you must know what you’re about to go up against.

Sales Talk 101: Talking to Your Customers with Sales Conversation

Types of Customers

Depending on who you talk to, there are generally four types of customers. Retail expert Rick Segel segregates them as The Director (likes to take charge), The Analytical (analyzes the finer details), The Relater (knows someone from everywhere), and The Socializer (loves to build relationships).

In a HubSpot article, Leslie Ye classifies customers as Assertive, Amiable, Expressive, and Analytic. While there are obvious similarities between Segel’s and Ye’s lists, i.e., Assertive and The Director and Amiable and The Socializer, the difference is that Ye has the Expressive that lean more on how a purchase affects customers and those around them.

With those laid down, how do you sell to them? The following are the bottom lines.

Sales Talk 101: Talking to Your Customers with Sales Conversation

Appeal to Emotions

Knowing how to deal with diverse customers is the basic of sealing a deal. By pleasing them despite their very different natures, you satisfy a golden rule in sales: making them happier. And that leads to better experiences. Basically, good customer service equals great customer experience.

For your part, flexibility is always welcome. With the multitude of people coming through the door, you’re bound to find yourself in a conversation with your potential client, and you’re expected to be able to cater to their personalities. Got an Assertive type? Cut to the chase, lay the down the facts, and don’t waste their time. Got the Socializer? Then by all means, socialize with them. Engage them in a friendly conversation and build that relationship.

In those ways, you can show them that you’re not taking a one-track-mind approach and considering only the profit of a sale. Make them feel that their trust and loyalty are the best things you can have.

Sales Talk 101: Talking to Your Customers with Sales Conversation

Appeal to Aspirations

There are people who buy because of impulse, while there are those who carefully plan their expenses. Despite these—or perhaps because of these—sellers often don’t consider the far future and are only concentrated on the moment.

Rather than doing that, though, when you’re having a conversation with your potential buyer, cater to their present needs and show how your product can provide a “better” future. After that, maybe they can present an easier manner of how people around them work or a more efficient way of doing things just because of their simple purchase. By meeting that expectation, you enrich how people view themselves and give them the opportunity to do something good.

This subconscious aspiration to be respected—that sense and level of self-esteem—is always good to enrich because this is one way you get your clients to trust you.

Conclusion

Over the years and after many refinements in the art and techniques of selling, most people have their defenses up. They turn a deaf ear to blatant sales talks and a blind eye to obvious schemes. In short, don’t underestimate your potential clients.

People are more aware of the mind games, so these don’t work anymore. So, what do you do? Be human when you do your sales talk. Instead of putting up a wall between seller and buyer, do your best to connect with your customer. Being honest and genuine are traits most people look for in a relationship, so why don’t you start that chain? You’ve nothing to lose and much more to gain.

 

Resources:

Corbett, Barr. “The Best Sales Pitch Ever.” Fizzle. November 16. www.fizzle.co/sparkline/the-best-sales-pitch-ever

Dachis, Adam. “How to Plant Ideas in Someone’s Mind.” Lifehacker. October 21, 2014. www.lifehacker.com/5715912/how-to-plant-ideas-in-someones-mind

Segel, Rick. “4 Types of Customers and How to Sell to Each of Them.” Business Know-How. n.d. www.businessknowhow.com/marketing/personalities.htm

Ye, Leslie. “How to Sell to 4 Different Personality Types.” HubSpot. December 13, 2016. blog.hubspot.com/sales/how-to-sell-to-different-personality-types

“Mind Games: Can We Use Psychology to Grow Sales?” Pharmacy Magazine. July 31, 2015. www.frontshop.co.za/mind-games-can-we-use-psychology-to-grow-sales

“The Rule of Esteem – How Praise Releases Energy.” Westside Toastmasters. n.d. www.westsidetoastmasters.com/resources/laws_persuasion/chap12.html

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