How Do You Know When You’re Buying It Back? - Great Demo! and Doing Discovery

How Do You Know When You’re Buying It Back?

If you’ve ever heard these objections, you were probably Buying It Back:

  • “We don’t want the Cadillac; we just need a Chevy!”
  • “It’s way more than we need!”
  • “We don’t need all the bells and whistles.”
  • “We’re looking for the bare bones.”
  • “A workhorse, not a show horse.”
  • “We need utility, not luxury!”

(Folks in Europe, Latin America, and Asia-Pacific, what are the phrases you hear?)

So, if you get these responses after (or worse, during!) your demos, consider how your prospects view their desires vs your feature set.

In a traditional demo (and in any demo done without sufficient discovery), each capability you show falls into one of the following categories:

  • Must have
  • Nice to have
  • Neutral
  • Don’t need it
  • Really don’t need it

The “must have” and “nice to have” capabilities are the Specific Capabilities desired by your prospect. But what about “Neutral,” “Don’t need it,” and “Really don’t need it”? Each time your prospect sees these in your demo they think, “Well, I don’t need that and I certainly don’t want to pay for it.”

And since they have just seen these demonstrated, they know that they will be paying for these features as part of the license fee. One or two small capabilities isn’t much of a risk, but when this list grows larger then prospects get concerned.

It’s even worse when vendors highlight capabilities as key differentiators as particularly important or high value, but the prospect has the opposite opinion.

Solutions?

Do Discovery!

https://www.amazon.com/Doing-Discovery-Important-Enablement-Processes/dp/B0B8RJK4C2/

Apply Inverted Pyramid!

https://greatdemo.com/why-structure-demos-like-a-news-article/

Employ Great Demo!

https://www.amazon.com/dp/B0C9SNKC2Y/

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