Market force and customer satisfaction: my ears are perplexed by these two words that have become a rage since the time of their inception. Customer satisfaction remains the most sought after endeavor for companies alike.
Defining the customer
cycle we get four primary stages â€“ suspect, lead, prospect and finally customer. The suspect stage is when a company defines a target segment that can possibly be future customers. This segment consists of suspects. Once an initiative to establish contact is made, the suspect matures to a lead stage. Upon reciprocating with some interest in the product on offer, the lead becomes a prospect or prospective buyer of the product. This is the point where maximum pre-sales efforts happen and aggressive convincing is required to further push the prospect to a customer stage.
As noted by various sales people the probability of a prospect backing out at the last minute are about 70% greater than that of creating a lead from a suspect base. And in the end conversion rate would always be calculated from the prospects that were turned into customers. A major portion of sales efforts is taken up by this stage only. The transition from this stage can be made smoother with introduction of innovative marketing tools.
By an effective marketing tool, the only thing that comes into my mind would be a tool that is able to convey to the customer, the key benefits and features of the product. Breaking down boundaries with a technology-resistant population can be hard, specifically if theyâ€™re forced to read pages of technical documentation, or dial-in to a support line whenever they want assistance. A well-executed visual presentation permits them to review instructions at their own pace, put up their queries as and when required and re-go to challenging spots as necessary. Product demonstrations can do wonders to marketing strategies and initiatives. No amount of text can ever be equated to a visual demonstration of the product. Shooting fancy words or an eloquent usage of language skills is unmatchable to the impact that a live moving image can create.
Software companies often make use of engaging, dynamic tools that accelerate the sales process in the shortest span of time. Live Demos guide users by way of the productâ€™s operation with step-by-step visual instruction and content that caters to their personal computer skill level. These demonstrations supply an engaging way to familiarize your user-base with the functionality you provide. Moving images coupled with sharp and precise content becomes a â€˜wowâ€™ package to leave a long lasting impression in the minds of the audience. Targeting and customizing the product demonstration as per the customer turns out to be a boon as it engages a prospect and articulates the value of the solution directly.
The demonstrator must be charismatic and possessing an in-depth knowledge of the product. A live session that is interactive, interesting and appealing leaves the audience completely fascinated by the presentation. A crisp and precise demonstration is always easy to be presented and is devoid of repetition, thereby keeping the audience glued to it. Clarity of voice along with good presentation skills produces overwhelming response and a promise of future undertakings.
Now demonstrations can vary from being an on-site demo, to showcasing a presentation on a public platform, to web demo which is facilitated through screen sharing and lastly, demonstration done at the premise. A meeting between a prospect and the business team of a company leads to a request for an on-site demonstration where the solution vendor happens to visit the prospect with the whole set up to be demonstrated at the prospectâ€™s site. Next is an opportunity wherein the vendor finds a way to exhibit the product on an open platform, addressing to a large crowd that majorly comprises of a target audience. Then, comes a technology-based, largely popular way of product demonstration made possible through the use of web and made accessible through screen sharing. Lastly, a demonstration on-premise also proves to be lucrative in cases when the solution provider is able to present the product demo effectively and comfortably.
With product demonstration evolving as an excellent tool for marketing, one thing that remains certain is that the content of any marketing tool must be charming and attractive. In order for a demo to create a long lasting impression on the minds of the customer, the content is majorly responsible for the same. One can upgrade the demo for the existing customers to up-sell their existing product to a higher and costlier version. The buyers must be presented with innovative and interesting showcasing of product so as to ensure maximum numbers of repeat customers.