What is a self-service product demo and how it helps SaaS businesses
Product demo, Almost all SaaS peoples even it is a SaaS provider or a user everyone is quite...
You built a great SaaS tool, that solves a problem for a large group of peoples, you identified your addressable market, and placed the software accordingly Started your marketing activities, people started identifying it and you gradually got your first few trial users. You did a lot of effort to create product awareness, drive traffic to your website and people start signing up for the trial accounts. What happens next, as a SaaS provider you may set up product demonstrations for the users to drive them to software values. It is okay to manage the product demo to the first 100 users, what happens when you grow to 1000 to 10K signups a month?
Without any doubt, yes it is. Product demo or sales demo plays a vital role in any SaaS sales. Depending upon the software’s use case the product demo could be in any format. It might be a one-one format, where the sales reps are explaining it by sharing their screen or it might be by sharing the relevant content to help the user to do the demo on their own. In some cases, SaaS creators go an extra step by offering product demo to their leads even before they reconverted to a free trial, by setting up an option to “Request for demo” on their website.
A product demo is a presentation where the sales reps demonstrating the product values to the users even before they jump to decide the free trial signup. If went well, the product demo is a great opportunity to drive the prospect to the premium. In most cases prospects are asking for product demos to understand, whether your software fits their requirement or not, if found good the user can easily decide to signup or switch to your product.
With the introduction of cloud-based software, sales in this segment are going wild, people started exploring so many possibilities to meet their software needs. Modern software users need to find their return of investment before purchasing something, this made SaaS sales a little tricky. With the introduction of a product-led growth strategy, where the product itself sells its own, SaaS creators started offering free trials and premium models
Free trial models enhanced the possibility of people trying the product for free for a limited time without paying anything. Free trial other hand helped SaaS creators to boost their sales rate, at the same time it forced the SaaS providers to think about self-service methods besides providing one-one assistance to get started with. If you are a SaaS provider and able to offer a free product demo even in the trial period itself, that can of course enhance the possibility of converting the trial users. Unfortunately, it is not economically possible to offer a product demo for the free trial users. A free trial will not guarantee whether you are able to convert the user, even the best selling software itself saw on average 23-30% free trial to premium conversion.
Self-service product demo, in other words, the product itself demonstrates the values to a new user. As discussed earlier when you grew from 100 to 1000 daily signup, it will be hard to manage the one-one product demo, where you need to spend a lot of time, effort, and money to address all the free trial signups. On average a sales demo takes 30-45 minutes, where a sales rep can maximum manage 7-8 calls a day if you decided to deliver 1-1 product demos to each trial sign up, it hard to manage correctly? A free trial doesn’t guarantee that you are able to convert that account to a paid user till the user reached the product goal and decided to make the payment. Spending a lot of effort on each trial signup wouldn’t a good idea. But SaaS creators need a solution to manage the user onboarding and product training even in the trial period as well.
Implementing Self service product demo could be a good choice to help the free trial users to get started with any software. Most of the prospects who signup for the free trial with your software are not familiar with your features or unfamiliar with the steps they need to perform during the action. The uncertainty in getting started with any software leads to an unconditional user churn. When you help the user to perform a self-service with backend support would help the user to get familiar with the software instead of spending too much time talking to the sales reps.
Unfit users are always difficult to manage, do not sell to unfit users is one of the very first sales principles. Unfit users raise their voice in public against the product and that ruins your credibility. A self-service product demo shows your product values to free trial users even before they decide to pay for your service. People signup to free trial for too Many reasons, some signups are intentional some are just with curiosity. Self-service demo ensures helps the users to understand your software very early, this saves a lot
It is hard to calculate the ROI when you manage one-one product demos, where the conversion may take days or weeks, and it is very hard to understand the effectiveness of your sales rep's performance in the sales calls. When you implement self-service product demos it ensures equal quality in every onboarding sessions with pre-defined steps
To make the self-service demo more productive, SaaS creators can implement a proper user onboarding tool within your app. Leaving the user to manage the self-service without a proper solution will end up with the user churn. If you want to make your users do a self serve by learning themselves it needs proper guidance and assistance, nobody is super proficient in your app, most ion the users are very first-time. To drive the first-time users through your app need proper well-structured guidance. User onboarding tools like Dashfrugal helps SaaS creators to create self-service options by setting up self-service methods like guided product tours, video-guided tours, contextual guidance, etc.
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