How to measure the performance of Product Demos? Demo Scorecard to Increase Sales for B2B SaaS Companies

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Download - FREE Template - Success Metrics Scorecard for Product Demos

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B2B buying behaviour is going through a transformation with product demos seen as a true signal to break the noise around similar value propositions of competing solutions. This article outlines the metrics that Top B2B Sales Teams can use to deliver product demos that increase sales conversion. What’s more, we have created an editable Product Demos Performance Metrics sheet which can be used on a daily basis to measure the impact of each demo delivered.    

If you want to see, how Pepsales helps you improve the performance of product demos, speak with us. 

Product Demos Success Metrics

Product Demos Success Metrics are classified into the following categories:

1. Buyer Engagement Metrics
2. Shared Demos Metrics
3. Demo Delivery Metrics
4. Demo Personalization Metrics
5. Demo Conversion Metrics

Meanwhile, if you want to get started with these metrics for Product Demos in your organization, download the editable Product Demos Performance Scorecard.

1. Buyer Engagement Metrics

Buyers appreciate meaningful engagement over a mere feature dump during product demos. Successful Sales Teams excel at connecting with the buying committee (comprising of 4-6 members) by asking open-ended questions to kickstart discussions, using focused questions to gauge interest levels, and adeptly managing side conversations and distractions.

• Attendees in the Demo Meeting: Keep track of who attends the demo to understand the audience.
• Number of Questions Asked: Measure the level of engagement through the questions asked during the demo.
• Talk Time of Prospects: Analyze the time prospects actively participate in the demo.
• Number of Distractions or Side Conversations: Monitor the level of focus and attention during the demo.

2. Shared Demo Metrics
   

• Open Rate: Gauge the initial interest by measuring how many recipients open the demo invitation.
• Watch Time: Evaluate the time spent by viewers watching the demo.
• Number of clicks inside the Demo: Assess the level of interaction within the demo.
• Number of shares inside the company: Understand the extent of internal interest generated by the demo
  
  
  

     3. Demo Delivery Metrics

Effective demo involves aligning it with the buyer's stage in the sales process and syncing the CRM with delivered demos during the sales cycle.

• Number of Meetings or Touchpoints to Demo Meeting: Track the interactions leading to the demo to understand its context.
• Number of Product Demos in the Sales Cycle: Measure the frequency of product demos throughout the sales process.
• Number of Product Demos to Multiple Stakeholders in the Sales Cycle: Identify the reach and influence of the product demo across different stakeholders.
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4. Demo Personalization Metrics

Top Sales Teams aim for personalized product demos tailored to the buyer's pain points, company size, industry, and user persona after running the discovery process. However, more than 54% of prospects want to learn how the product works in the first call. Hence, it is crucial to measure the balance between generic and personalized demos during the sales cycle. 

• Number of Generic Product Demos Given in the Sales Cycle: Track instances where a standard demo is provided.
• Number of Personalized Product Demos Given in the Sales Cycle: Measure the effort to tailor demos to individual buyer needs.
• Extent of Personalized Demos showcasing:
  • Relevant Product Features: Assess the degree to which product features are aligned with the buyer's needs.
  • Relevant Business Workflows: Evaluate the customization of demos to fit the buyer's industry-specific workflows.
  • Realistic Product Usage Data: Measure the authenticity and relevance of usage data presented in the demo.

5. Demo Conversion Metrics

The ultimate goal of a successful product demo is conversion to sales. Beyond traditional conversion metrics, it's essential to track other sales funnel movement metrics influenced by product demos.

• Lead to Demo Conversion: Evaluate the transition from lead to attending a demo.
• Demo to Follow-up Meeting Conversion: Measure the effectiveness of the demo in prompting follow-up engagements.
• Demo to Proposal Stage/Trial Account Conversion: Track the progression from the demo to the proposal or trial stage.
• Demo to Closed-Won Conversion: Measure the demo's success in closing deals.

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B2B buyers are 1.8 times more likely to complete a high-quality deal when they engage with supplier-provided digital tools in partnership with a sales rep rather than independently. While there may be exceptions in certain situations, following this blueprint and meticulously tracking these metrics {Insert Link}, Sales Teams can gain valuable insights into the effectiveness of their product demos and make informed adjustments to enhance their impact on the sales process. 

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Speak to us at Pepsales to see how we have incorporated this scorecard for B2B SaaS companies. 

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