Dan Martell - How to Sell More Product Demos

00:00:00.000 Hey there.

00:00:00.500 I'm Dan Martell, serial entrepreneur, investor,

00:00:02.280 and creator of SaaS Academy.

00:00:03.320 In this episode, I'm going to share with you

00:00:05.440 the five decisions that your prospects make in their mind

00:00:09.680 before buying your product to help you increase the win

00:00:13.520 rates on your sales demos and really just better

00:00:16.400 train your salespeople if you're moving from founder-led sales

00:00:19.920 to a sales team-led sales.

00:00:21.520 And be sure to stay to the end where I'm going to share with you

00:00:23.960 how to get access to my Rocket Demo Builder

00:00:26.900 to help you close deals twice as fast at twice the win rate.

00:00:44.520 So recently, I was doing a coaching call

00:00:46.700 with one of my SaaS Academy clients,

00:00:48.160 and they were frustrated because they just

00:00:49.900 hired a new junior account exec, essentially a salesperson,

00:00:53.380 and they weren't closing at the win rate

00:00:55.540 that they were hoping to.

00:00:56.780 So I sat down and kind of understood

00:00:59.180 kind of their challenges, asked them about their training

00:01:00.920 program, and realized at a high level,

00:01:03.320 they just never explained the five decisions

00:01:06.460 that the prospect needs to make that needs to be true for them

00:01:10.600 to feel comfortable to move forward and buy from them.

00:01:12.860 Once I showed them those five and they explained it

00:01:15.620 to their sales rep, within two weeks,

00:01:17.960 they increased their conversions by 20%.

00:01:20.960 So what I want to share with you today

00:01:22.100 is exactly what I shared with them

00:01:24.240 to help you understand the psychology

00:01:26.180 and the steps involved in getting people to buy from you

00:01:29.540 and your sales team.

00:01:31.220 Number one, trustworthy.

00:01:34.000 At the end of the day, if you don't come across as a sales

00:01:37.800 individual, so I'm just going to say you as in your sales team,

00:01:39.980 if they don't come across as somebody that's trustworthy,

00:01:42.020 then you're not going to get the deal.

00:01:43.520 For example, how many times have you

00:01:45.620 talked to somebody trying to sell you stuff,

00:01:47.300 and all you can smell is their commission breath?

00:01:49.760 They're like super salesy, and they're not listening,

00:01:53.600 and they're just trying to get you to buy stuff

00:01:55.420 that you know you don't even need.

00:01:56.840 At the end of the day, if the person

00:01:58.600 doesn't feel like you understand them,

00:02:01.180 that you understand the reality, that you're not

00:02:03.180 trustworthy in regards to the way you're talking,

00:02:06.580 if I feel like you're just going to sell me anything,

00:02:08.500 I'm not going to buy.

00:02:09.480 So the first thing, above all else,

00:02:12.160 is how do you establish that trust right off the bat?

00:02:15.760 Number two, does the product solve their problem?

00:02:18.880 The biggest mistake that junior salespeople make

00:02:22.340 is that when they're showing people a product tour,

00:02:25.220 They're essentially touring the product.

00:02:27.240 They're not demoing the solution.

00:02:29.560 The way I think about it is I need

00:02:31.460 to truly understand the frustrations, the pains,

00:02:35.500 the challenges the prospect has in regards to their reality

00:02:40.060 so that I can customize the way I'm

00:02:42.800 going to show our product to get them

00:02:45.640 to understand that our solution can solve their problem.

00:02:49.580 If that's not present, if there's anything left out,

00:02:52.500 If they just feel like you can get 70% of this thing solved,

00:02:55.740 but not the other 30%, even if you could,

00:02:58.280 this is the sad part, when you actually do some audits

00:03:00.540 on sales calls, even if you could because you're like,

00:03:03.600 oh my gosh, you forgot to say this and we actually

00:03:05.340 solved that problem, they're not going to buy.

00:03:07.600 You need to make sure that you truly

00:03:09.240 understand their full spectrum of needs

00:03:12.000 and use your product demo to demonstrate

00:03:15.120 how your features solve their problems

00:03:17.980 to deliver the benefit that they're driving for.

00:03:20.880 That doesn't exist.

00:03:22.000 There's no sale.

00:03:22.980 Number three, is it affordable?

00:03:25.220 Now, I know that you're thinking,

00:03:26.940 this thing is a no-brainer.

00:03:28.680 Everybody should be buying this.

00:03:30.220 This should be flying off the shelves.

00:03:32.200 Every demo should close 100% win rate.

00:03:34.460 Here's the reality.

00:03:37.140 Your prospects have other decisions.

00:03:39.080 They're looking at the competitive landscape.

00:03:41.340 They're evaluating your solution against doing nothing,

00:03:45.180 because the reality is, is that is an option.

00:03:47.640 So it's not about, do you add enough value?

00:03:51.720 Do they feel it?

00:03:53.100 Comparing themselves to the alternatives,

00:03:55.940 the competitive set to decide if the ROI is there.

00:04:00.140 Is it affordable?

00:04:01.040 Is it a real thing?

00:04:01.760 I think some of my salespeople are like, this is so cheap.

00:04:04.260 This is a no-brainer.

00:04:05.280 No, there's real realities.

00:04:06.760 There's budget realities.

00:04:07.920 There's their implementation costs

00:04:10.260 that you're not even considering around affordability.

00:04:12.200 It's not just the money.

00:04:13.800 It's not about just writing a check and giving it.

00:04:16.580 It's, is this product going to make me work a lot?

00:04:19.660 That's the affordability.

00:04:20.820 Can I afford the time and or financial investment

00:04:23.520 to get this thing to deploy so that I can get the results?

00:04:26.220 So affordable is a big part.

00:04:28.400 Number four, is the company dependable?

00:04:31.340 Is your company dependable?

00:04:32.460 Think about this.

00:04:33.580 If I'm going to buy a solution, I've

00:04:35.420 been burned so many times in the startup world

00:04:37.800 where I invest time, energy, deploy technology,

00:04:41.300 some weird marketing tool, and all of a sudden,

00:04:43.520 the company shuts down or their funding doesn't happen

00:04:46.200 and they go on life support, their support

00:04:47.940 starts to just be horrendous, whatever it is.

00:04:50.700 So what I'm looking for now, before I make a decision,

00:04:53.640 do they have a good financial background?

00:04:55.540 Are they bootstrapped?

00:04:56.440 Because typically, if they're bootstrapped

00:04:57.840 and they've been around for a long time,

00:04:59.440 it's more stable than short, not been around a long time,

00:05:02.700 high funding, especially if you're

00:05:03.900 going to invest a lot of time and energy.

00:05:06.000 Case studies, are other people out there like me,

00:05:10.080 if I'm the prospect, using this product?

00:05:12.360 And I'm like, OK, so they trust that person.

00:05:14.740 They must be dependable.

00:05:16.120 Do you, as a salesperson, do what you say you're going to do.

00:05:19.480 If you say, I'm going to follow up with the material,

00:05:21.360 and it's a day later, then you've just

00:05:23.120 given them a little hint that you're not

00:05:25.200 as dependable as you said.

00:05:26.760 If you're saying at the beginning of your demo call,

00:05:29.620 your sales call, this is what we're

00:05:30.880 going to accomplish today, and you don't do that,

00:05:33.200 and you kind of use that as a bait and switch,

00:05:35.620 you're not dependable.

00:05:36.680 Sometimes there's something wrong with the company.

00:05:39.840 The reviews, you're not leveraging reviews

00:05:41.780 like Capterra or other sites like that

00:05:44.000 to build a public kind of facing kind of review

00:05:48.320 site for trust and credibility in the market.

00:05:52.340 So you need to ask yourself from a dependability point

00:05:54.860 of view, am I demonstrating or do I

00:05:57.140 have the assets to be able to demonstrate to a prospect

00:05:59.600 that we are?

00:06:00.440 Because if not, you've got to feel that.

00:06:01.880 Your salesperson can't sell against that if there's a gap.

00:06:05.360 Number five, is it a now thing?

00:06:07.620 For me, when it comes to sales, if you ever hear somebody say,

00:06:11.400 this sounds great.

00:06:12.580 Why don't you send me a proposal?

00:06:13.940 Send me the information.

00:06:15.380 I'll think about it and get back to you.

00:06:17.400 Or somebody says, hey, we evaluated it,

00:06:19.780 and it just doesn't feel like it's a now thing.

00:06:23.000 The reason most of the time that that happens

00:06:25.700 is because you didn't push the pain.

00:06:27.680 And what I mean by that is you didn't

00:06:30.140 talk about the impact of their challenges, frustrations,

00:06:33.400 or pains in their business models,

00:06:35.160 or the lack of results that they want to achieve,

00:06:37.860 and talk about quantifying that pain.

00:06:40.880 So if you can't help them understand

00:06:43.500 why this software, this deployment, is a now thing,

00:06:47.420 then you're never going to be able to get them

00:06:49.380 to pull out their credit card and buy your technology.

00:06:52.040 So understanding that really, to me, the sale

00:06:56.260 is made at the beginning.

00:06:57.300 It's in the setup.

00:06:58.060 It's in the frame.

00:06:59.500 And at the end, you're going to hear these objections.

00:07:01.860 And those only show up because you didn't do the work.

00:07:05.060 You need to talk to them about their timelines

00:07:08.300 and understand that we need to show them

00:07:11.080 that if they solve this, it's a sequence of success.

00:07:14.360 And using our technology will help

00:07:15.800 them get to that outcome that they're looking for.

00:07:18.080 And always understand that there's

00:07:19.400 a business outcome they're trying to achieve,

00:07:21.440 and then there's a personal outcome, which is more about them

00:07:24.740 that a lot of salespeople don't even understand.

00:07:26.520 If you're going to help somebody manage people better,

00:07:29.180 make better buying decisions, improve the sales velocity

00:07:32.240 as a VP of sales, those things are

00:07:34.080 going to reflect positively on the individual as well

00:07:36.860 as the business.

00:07:37.540 They're also thinking about themselves,

00:07:39.360 about getting recognition and potentially getting

00:07:42.020 promotion, et cetera.

00:07:43.500 And if you don't speak to any of that,

00:07:45.660 then why would they make that a now thing,

00:07:47.700 when they can just do what they've been doing now,

00:07:49.760 make some incremental improvements,

00:07:51.420 and maybe revisit things in the future.

00:07:53.180 So figuring out how do you communicate

00:07:55.300 and create a sense of urgency to front load,

00:07:57.900 prioritize your solution before others

00:08:01.300 is a key thing that all great salespeople have mastered.

00:08:04.820 So quick recap, five core decisions

00:08:07.120 that people make before they buy your SaaS product.

00:08:10.380 Number one, are you trustworthy?

00:08:12.940 Number two, does the product solve my problem?

00:08:16.300 Number three, is it affordable?

00:08:19.120 Number four, is the company dependable?

00:08:22.600 And number five, is it a now thing?

00:08:25.640 So as I mentioned at beginning this video,

00:08:27.060 I want to share with you an exclusive download

00:08:28.900 called the Rocket Demo Builder.

00:08:30.720 Now, it is a worksheet with all the different five hot

00:08:34.320 principles that you need to understand

00:08:35.780 to really deliver a rocket demo to help you close your deals

00:08:40.040 twice as fast.

00:08:41.240 If you implement each one of those steps

00:08:44.120 in your next call for yourself or for your team,

00:08:46.640 you're going to increase your win rate.

00:08:48.980 So be sure to click the link below to download your copy.

00:08:52.220 And if you found this video useful,

00:08:53.580 be sure to smash the like button.

00:08:55.280 Subscribe to my channel.

00:08:56.360 If there's anybody that you care about that you

00:08:58.940 think this could serve, feel free to share this

00:09:00.660 with them directly.

00:09:01.880 And as for usual, I want to challenge

00:09:03.380 you to live a bigger life and a bigger business,

00:09:05.940 and I'll see you next Monday.

00:09:07.840 And you're going to learn how to train your salespeople better.

Dan Martell - July 29, 2019

How to Sell More Product Demos

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