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Product Demos: Selling Value in Spite of Product Deficiencies

High Octane Product Management

In a perfect world, you’ll always understand big picture business objectives before a product demo and you’ll invest your time on prospects that give you the best chance making the sale. If you need to make the shift from selling tactical products to strategic business solutions, contact Proficientz to discuss how our Product Demo Training Courses can help you shorten sales cycles, improve win rates and expand the deal size. The post Product Demos: Selling Value in Spite of Product Deficiencies appeared first on Proficientz - Product Management Training for B2B.

B2B 9

It’s time to get your Ph.D. in Sales Comp

Product Beautiful

We did a “lunch-and-learn” where we fed the team pizza and spaghetti, while one of our product managers did a demo of the product and talked about how it was complimentary to the products they were already selling into their accounts. A few years ago, I was working for a large company here in Austin. Imagine a Fortune 100 company: large, established, incumbent. Then, everything went wrong.

Product Demo Techniques: Telling Versus Selling

High Octane Product Management

When it comes to product demo techniques, there are two styles: telling and selling. The “telling” demo (stop me when you see a feature you like) won’t energize your buyers or set you apart from the competition. The “selling” demo energizes your buyers with a vision because it’s more about their business than it is your products. The “Telling” Demo. It’s more or less a rewind and replay for each demo. The “Selling” Demo. “Selling” demos boil down to relevance and credibility.

The role of product management in sales demos

Under10 Playbook

In some cases, it’s clear that the person doing the demo hasn’t prepared and is just following a canned script. In others, you can tell that they put a lot of time into tailoring the demo specifically for the client, but even then, the demo can often miss the target. How do you create a great demo? So they do a lot of demos for individual clients.

Web Demos: Engaging An Audience You Can’t See

High Octane Product Management

The #1 challenge with conducting web demos is the ability to read and engage an audience you can’t see. Is the demo going well? The key to reading a prospect you can’t see is to engage them in a discussion during the demo. Ideally, you should have some idea of what your prospects are trying to accomplish and why it’s important prior to each demo so you are prepared with a few discussion points. But even if you don’t, it’s easy enough to do on the fly and makes for engaging conversation as part of the demo. Are they doing e-mail while I talk?

The best way to support sales teams

Under10 Playbook

For many, this means supporting sales people on individual deals—such as doing presentations and demos or authoring RFPs. How often does a custom demo outperform a standard one? Could demos be put online in a video format? Should we set up a demo center? It seems that many sales people are hired for reasons other than their industry expertise.

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Scaling Lean Principles by Jeff Gothelf

Mind the Product

Get people to practise things like stand-ups, demo days, progress reports, anything that exposes the work you’re doing. Coach, lean advocate and author Jeff Gothelf talked about scaling Lean principles at this year’s London #mtpcon. Lean methodologies work well for a single team observes Gothelf: “A lean startup reduces risk by regular and continuous experimentation. Experiment Or Die.

Fighting Shiny Object Syndrome

Product Powers

She’d uncovered an opportunity to partner with a local firm that would distribute our free demo to a few thousand of their customers and she was convinced it would be an easy way to generate a lot of new business quickly. Printing demo discs was cheap and she just wanted my ok to get some co-branded materials made to package them with, and maybe we could do a seminar together, and dedicate some telesales resources to following up on the leads. The company had been using a free demo disc for a couple of years to bring in small business customers. I said no.

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How to turn a story point factory into a customer-centric team?

Mind the Product

In the enterprise world visiting some sales demos can be an eye-opener too. The one spontaneous ovation at this year’s London MTPCon was when Drift CEO David Cancel muttered “I hate agile” as an aside while he was on stage. Agile, a revolutionary idea 10 years ago, has clearly lost its shine for many people. How can we bring customers back into the picture? Ideation sessions can also help.

Becoming a Product Leader with Win/Loss Analysis

Product Beautiful

Demo of our solution. What if we demoed the wrong solution for their needs? Nearly every product manager I speak to desires to be a leader in his or her organization. Everyone knows that as a member of the Product Team, you must exercise soft skills like influence to nudge your product towards success. Introducing Win/Loss Analysis. How to do Win/Loss Analysis. Evaluator decision.

Video: How One Chief Product Officer Is Reinventing Product Management At Her Company

Product Talk

38:40 The value of weekly demos across self-organizing teams. A few months ago, I sat down with Hope Gurion, Chief Product Officer at CareerBuilder , to talk about her team, how they work, and how she stays current in the fast-moving world of product management. I’ve had the pleasure of knowing Hope for the past two years and I am thoroughly impressed by her leadership and vision.

Virtual reality and your product development process

Mind the Product

At the end of the week, demo the idea to the larger team, run user feedback studies, revise your experiments, and repeat. After years of false starts and incremental improvements, 2016 is the year where virtual reality (VR) has finally arrived. In this post we discuss which existing processes continue to work with VR as well as the areas where change and innovation is required. Wrapping up.

How to fix Runaway Project Timelines

Mind the Product

Whether your team is motivated by competitive pressure, pushing out a new feature before a big event or demo, or making a positive impact in the lives of your users, working both quickly and efficiently helps you to meet those goals. We’ve all been there: two months into a two-week project and the end still isn’t anywhere in sight. Why can’t your team do that? The Blame Game. What gives?

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Taking Event Support from Sales Tactic to Product Strategy

Product Beautiful

So often, we see our role at a trade show as one of doing demos and talking up our product’s features. When you begin a demo, talk about the problem first. If they don’t, then demo the solution to a different problem.). By prefacing your demo with a conversation about problems (rather than leading with your product), you increase the likelihood of people being more open about their pain points. Events. It’s natural to dread them. As a product manager, you may view events as largely tactical and time-consuming endeavors. Rethinking the Role of Events. Here’s a start.

Creating ideal customer profiles

Under10 Playbook

You’ll want to tailor all of your sales materials—the web site, demo, presentation, ebooks—around this ideal customer profile. Analyzing past results to drive future successes may be the most important goal for today’s product leaders. You know the worst thing that can happen with a new product? You get some customers. Not none. Not a lot. Just a few. We killed it.

6 Reasons Why Boston is a Great Place to be a Product Manager

bpma ProductHub

And with so many new innovations coming to the fore each month, Boston Innovators Group , Mass Innovation Nights , Boston New Technology meetup , and other groups offer monthly or quarterly innovation demo gatherings. Contributed by Steve Robins. The Boston area may just be the best place to be a product manager today. Here’s why. Reason #1: Boston is an Innovation Hub. Don’t be.

Win/loss analysis: the product marketer's most powerful tool

Under10 Playbook

Every deal the company won had one thing in common: the buyer participated in a non-customized demo in the company briefing center. The solution was to standardize the selling process around a standard demo. The company hired a kid from college, gave him the demo room, and said, “It’s yours. Have it always ready for a standard demo.” But wait! Amazing!

A Day at Corporate

Under10 Playbook

The product managers certainly need to be there to make sure nobody makes any claims that must be supported elsewhere—such as the demo or on the ever-changing product roadmap; you need to make sure nobody is making any promises the products can’t keep. “A Day at Corporate” Analyzing the win and loss patterns at one company revealed that many deals were being lost during the software demo. The technology failed or the sales engineer wasn’t prepared or the demo didn’t address the client’s pressing needs. The corporate demo room.

Product Management Is a Contact Sport – What’s Your Injury Risk?

High Octane Product Management

The Body Part: Product Demos. In many companies, product demos are a second string job for anyone with product expertise. The injury: poor problem discovery and poor preparation make for “show up and throw up” feature demos that bore prospects to tears and delay buying decisions. There’s a good reason why athletes in contact sports wear protective pads. Over time, statistics have shown where injuries are most likely to occur, hence the placement of the pads. If product management is a contact sport, what’s your organization’s risk of injury?

Product Training for Sales – More Buyer, Less Product!

High Octane Product Management

This concept also holds true for salespeople who do product demos, with the understanding that a further level of product training is required. Wealth made simple: news and articles from IRC Wealth. Product training for sales is one of the more daunting tasks for product managers and marketers and one of the biggest product rollout challenges in high-tech companies. You’ve created textbook sales and marketing materials. You’ve spoon fed the information to the sales team on several occasions and in varying formats. You’ve accompanied them on sales calls. appeared first on Proficientz.

Powerful techniques for product launch

Under10 Playbook

When working with development, we have a set of requirements, we collaborate on the design of the solution, and then we accept completion of the features based on seeing them in a demo. At the periodic launch meetings, the launch manager (that is, the product manager, the product marketing, or whoever is in charge) confirms completion of the task with a demo.

Let’s formalize sales escalations

Under10 Playbook

That’s why many product managers get involved with roadmap discussions, technical demos, and answering RFP/RFIs. Product Demo Center. If your enterprise clients require a product demo, then treat it like a marketing program. Set up one or more demo centers with all the necessary equipment ready to go. Put some time into developing the most common scenarios and make it a great demo. Sales teams often need access to deep product knowledge. In fact, 46% of product management time is spent in firefighting. Right idea maybe but wrong implementation. Or both.

Don't look for answers in your office.

Under10 Playbook

Maybe you show a "before and after" image as a demo. A product marketing manager wonders what he should be doing while development is working on the product. It'll be six months until the first release is available. Six months? Before you worry about go-to-market, get a concept in front of some customers. Test your product idea. MVP is the smallest amount of coding that can be used to test your product hypothesis.” ” There seems to be confusion about "minimum viable product" (aka MVP). Tweet this ]. I think I could use it but I dunno if it appeals to anyone else.

Plan your next steps with a retrospective

Under10 Playbook

They learned their customers’ decisions were tied directly to the effectiveness of the product demo. To make sure the product was shown in its best light, the firm developed a “ Day at Corporate ” program with a dedicated demo facility and staff. The plans you make must be guided by your results from previous plans. After all, the best lens on the future is the past.

Inspiration: Strategy without tactics.

Under10 Playbook

I like supporting sales people; I like doing demos. Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.—Sun —Sun Tzu, philosopher, author, The Art of War. “Strategy.” ” What a word. If I say “these activities are tactical,” people responsible for those activities get upset. If I say, “this is strategic,” people relax and feel better about themselves. There’s a sense that strategic is somehow better than tactical. And what’s wrong with that?” ” Indeed.

Consider a soft launch

Under10 Playbook

In between meetings, Meghan developed a presentation and demo and then trained the sales force—at least the ones who attended—on the product. Meghan was hired a few weeks before an initial product launch. She couldn’t find many of the core product pieces so she was forced to start from scratch. And she planned a “soft launch.” And really, how could you?

Sprint: Solve problems and test ideas in five days

Product Bookshelf

To create these idea mashups each team member will take turns presenting 3 minute lightning demos of their favorite solutions which shed light on the target identified on Monday. Sprints enable you to get answers to key product and service questions in just five days. The process moves through identifying questions, creating solutions, storyboarding, prototyping, and testing with customers.

Where does product management belong in your organization?

Under10 Playbook

In this scenario, product management tends to get pulled into a technical support role for the marketing and sales teams, providing content for demos, presentations, ebooks, and sales enablement. Only three things happen naturally in organizations: friction, confusion, and underperformance. Everything else requires leadership. —Peter F. Drucker, American management consultant.

Positioning with formulas

Under10 Playbook

You’ll have this at the ready when you write a media release, a sales presentation, a demo script, an ebook. In marketing, positioning is the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization.— — Wikipedia. Marketing dragged me into a meeting with a new agency. They were shocked.

Ship complete or ship on schedule: pick one

Under10 Playbook

You can see a demo of what’s working; you can decide if the completed set of functionality is what the market wants and what your company needs to deliver. "Perhaps the main reason we were behind schedule and over budget was because budgets and schedules are based on previous experience with similar projects. We really didn't know how much it would cost to build or how long it would take."—Tom —Tom Kelly, Grumman, on building the lunar module for the Apollo program. I read an article that claims Agile Development has now reached the “trough of disillusionment.”