For many companies throughout the world, mastering the product demo is one of the most significant challenges faced by their sales teams. As the Murphy’s Law epigram so aptly reminds us, “anything that can go wrong, will go wrong,” and that certainly seems to be the case when it comes to product demonstrations.
The problem is, these days, customer-facing teams must use a variety of different tools and techniques to stabilize and customize the demo experience for their prospects. Unfortunately, in many cases, this results in too many moving parts, and the chances of something going south during the process increases dramatically.
To make matters worse, most salespeople will be quick to tell you there is nothing quite as toe-curlingly cringey as when an important pitch goes belly up thanks to a few unexpected technical hitches. And when such a large amount of revenue is on the line, businesses simply cannot afford to make repeated mistakes during B2B product demos.
Why Are Product Demos Important for Businesses?
For many companies (especially B2B SaaS companies), the product/sales demo is one of the most critical aspects of the entire process. It provides the company with a unique opportunity to show off the value of their product and its capabilities to their prospects, with the hope of making a sale at the end of it.
At its core, the success of a company’s product demo is often the difference maker between closing a deal and losing a prospect – and when you extrapolate that even further, the demo might be the difference between the company’s overall success and failure, especially if the company in question is a start-up.
According to a recent SaaS survey, companies typically make between 4 to 11 demos per week, with an average success rate between 20% and 50%. When you consider the average annual contract value of private SaaS companies is around $21K, that’s an awful lot of money being left on the table from unsuccessful product demos. It’s clear to see something needed to change in the industry, as it was ripe for a market disruptor to come in with a new solution.
Meet Walnut – The World’s First Codeless Sales Experience Platform
Walnut. is a SaaS start-up located in Tel Aviv and New York City that provides sales teams with the tools and data they need to improve sales performance through a consistent, frictionless, and effective product demo.
Founded in January 2020, Walnut has developed a failure-free codeless platform designed to enable a seamless remote sales process that can be fully customized for each particular client or vertical being targeted. In turn, this drastically increases sales conversion rates and reduces the amount of effort and setup required for each sales demo. In other words, it’s every SaaS salesperson’s dream come true!
You see, many of the problems that sales teams are currently faced with arise due to conflicts between the sales and back-end teams, such as R&D, product development, and graphic design. As the CEO Yoav Vilner explained in a recent interview:
“The sales team can go on and ask, “Can you please not touch production? I’m going on a live demo with Microsoft. I don’t want our product to break.” You need to ask the design people, “Can you add a feature? Remove a feature?” You need to ask the product people for a favor. And they’re so busy and stressed, they’re not going to help out.”
Removing the necessity for back-end teams in the demo process greatly reduces many of the potential speed bumps. It makes the life of everyone involved in the demo significantly easier. The sales team can take complete control of their demo without knowing how to code, which allows them to create a much more customer-centric experience which will only help to boost conversions.
“There’s a lot of time, money and resources you’re saving if you just keep the entire process within the sales team. And now there is a new wave of options for you to actually customize it within just a few minutes. That’s not all: The unique insights and analytics our platform provides gives team leaders a first-of-its-kind clarity into the entire process,” explained Yoav. With Walnut’s sales experience platform, SaaS companies will be able to:
- Create more reliable demos
Walnut’s technology separates the front and back ends of the product, creating a bulletproof cloud and code-free environment that eliminates the chance of technical mishaps and embarrassing issues during the demo.
- Develop a more customer-centric sales experience
Sales teams can focus on the particular needs of their prospects throughout the process, dramatically improving the customer experience. This ensures that each demo is more effective, consistent, and tailored to each prospect and allows sales teams to create customization at scale, which is fundamental to a company’s success.
- Unique insights
Walnut analyzes the performance of the sales demos, so team leaders get a one-of-a-kind clarity into the process and learn what to do better for next time.
Walnut has come along at the perfect time with an inventive solution to aid SaaS sales teams in promoting their product without many of the stresses typically associated with the process. With Walnut, the SaaS sales process is no longer about product features or the talent of the sales team; it’s more about giving prospects a memorable, personalized experience that adds as much value as possible.
Not only will this help to boost conversions and the overall effectiveness of the sales team’s performance, but it also frees up a considerable amount of company resources due to the removal of the necessity for back-end teams in the demo process.