Using practical demos as marketing tool, how this affects pricing?
After a thorough group brainstorming with our business team, we came up with something or ways that are similar to interconnectivity of both price and demo.
Apparently, this one is much better as compared to demo, in this way your clients is much willing to pay for it, so you have the power to charge things up. This makes sense and it is true to everything when it comes to creating value in a category.
So meaning, the greater the value created with your clients mind, the higher possibility for you to charge more.
This one is sensitive and has impact on your product, so be careful in terms of timing when you introduce or give demo and deliver pricing. Take note that bad timing can lose an entire deal at once.
You can have demo after getting a rapport from buyers. As something might goes wrong during your demo, or showing them ugly screen.
With the rapport handed over your hands, it allows you to take precautionary measures and overcome possible mishaps.
You can deliver your pricing after you have delivered value in your customers mind.
Giving prices prematurely could potentially lose a deal, this is because your buyer things that the price is high without them comprehending the full information of the product.
Face to Face
Demos are best on in terms of face to face compared to demos done over online are hard. You will lose ability to read what is in your audience mind.
You cannot evaluate their level of excitement and determine what part of the demo bores them most.
In dealing with face to face type of demo, you are getting your information and will increase your overall rapport with your buyer. The result is similar for pricing.
When you deliver price prematurely in the process of initial product negotiations, seeing your buyers initial response as you deliver the product enables to you determine if your price is high or not.
Prices and demos are negotiable. Price can be negotiated anytime. This can be done during demo, your buyer can suggest things during the demo and they become part of the agreement. But we strongly prefer that both pricing and demos should not be negotiable.
Your demo should be well scripted.
The one conducting the demonstration should ahead of time know the things that they are going to present. Your demo is effective if you match it with the possible problems of your buyers.
In the same situation, your price should be at the same time also scripted. Meaning, you should explain clearly to your buyers about pricing category and the value that they will get for lower price products.
You need not to drop your price down.
It will appear that you are just adding things off for different agenda and likely to lose them without knowing.
Neither you have close a deal nor not. We believe that losing a deal is due to failure to deliver the right information during the demo. Remember that neither demos nor pricing are powerful for you to win a deal.