For a while now, B2B sales have been an industry primed for disruption. For too long, there has been an over-reliance on underperforming technology and a widespread failure to align inter-departmental interests. This has caused many salespeople to lose faith in traditional sales channels, especially as products and services continue to become more sophisticated.
Now, the challenge for the vast majority of companies (particularly SaaS) has become how to demonstrate the value of their product to potential clients and convey its core features and qualities competently.
According to McKinsey, more than 90% of B2Bs have transitioned to virtual sales models in response to the ramifications of the global pandemic. Yet with this sudden shift to digital sales, many companies are finding it hard to replicate the effectiveness of their in-person sales strategies in a remote environment - largely due to the inadequacy of their current tech and its inability to aptly exhibit the value and effectiveness of their product/service.
The Profound Impact Of The Product Demo
Founded by tech leaders Yoav Vilner and Danni Friedland in 2020, Walnut is a unique platform that has set out to overcome many of the issues associated with product demonstrations and to help alleviate the frustrations felt by both sales and back-end teams.
While at the first and biggest tech marketing company out of Tel-Aviv, Vilner gained a first-hand insight into the problems that salespeople would often run into when conducting sales demos. The product would break, the prospects would be unimpressed by the lack of personalization, and there would be unnecessary friction between departments, usually when customer-facing teams required back-end assistance to design specific mockups or fix an issue with the presentation in real-time.
Of course, these issues are far from ideal - especially seeing as the product demo is one of the most pivotal aspects of the entire sales process and is integral towards the business’s ability to generate revenue.
The fact of the matter is, if you fail to put your prospects’ needs in the center of the buying experience, it’s very unlikely that you will ever be able to make a sale.
According to a recent study assessing the performance of SaaS firms, most companies only manage to achieve a 20 to 50 percent success rate with their product demos. Considering the average yearly contract value of private SaaS firms is roughly $21,000, it’s clear to see why a business owner would be motivated to improve these conversion rates.
How Walnut Has Re-Invented The Buying Experience
Walnut is Vilner and Friendland’s answer to these issues. Their cutting-edge, first-of-its-kind, codeless platform has reinvented what many believed was impossible in terms of product demonstrations, and it’s about time. With that in mind, let’s look at some of the platform’s core elements and how they’re helping SaaS companies boost conversions and impress their prospects:
There is absolutely no coding required when creating a new sales demo for a client when using Walnut. This empowers the salesforce in a big way by eliminating their dependency on back-end teams such as R&D, product development, and graphic design. With Walnut, the sales team can take complete control of the demo, allowing them to create a much more customer-centric experience that will only help boost conversions.
This makes life simpler for everyone working on the demo, letting back-end departments focus on their duties and freeing up valuable resources that may be put to better use elsewhere in the company. Furthermore, if sales teams discover a winning recipe, they can duplicate it and utilize it again, providing a platform to fine-tune and alter the demo while scaling their creations.
According to SleekNote, 76% of B2B buyers now expect more personalized attention from solution providers based on their specific needs, and Walnut offers a platform to do just that. Seeing as sales teams have more creative freedom due to the codeless environment, they have an unprecedented ability to tailor each product demo to the particular needs of their prospects. The platform also facilitates the gathering of insights and essential data throughout the process, which can be used to personalize the demo even further, dramatically improving the customer experience.
Sales leaders have never had true analytics and insights into the performance of their entire team. Now, for the first time, they do, and they can make the right decisions towards improving their team’s performance.
The Walnut platform is cloud-based, allowing for excellent consistency and quality throughout the demonstration. This lets you present your interactive demos in an encapsulated environment that guarantees zero downtime and no loading time issues. In other words, you get to show off your product in all of its glory without having to worry about annoying technological hiccups that disrupt and overshadow the demonstration.
This results in vastly improved sales performance and boosts conversions. After all, each demonstration is a chance for the company to showcase its competency and professionalism. If they cannot handle a “simple” product demo correctly, why should someone feel confident buying their product?
In a nutshell
Walnut’s technology isolates the product’s front and back ends, resulting in a cloud-based, code-free environment that reduces the risk of technical difficulties and embarrassment during the demo.
This gives sales teams a new level of confidence and control over the entire process, enabling the creation of more customer-centric sales experiences through tailored demonstrations that focus on the prospect’s particular needs.
The end result is a high-quality, consistent, and personalized sales experience that goes a long way toward increasing your bottom-line conversion rate, which is something that the B2B industry has been screaming out for, for quite some time.