Are you confused by the difference between a demonstration and a proof of concept?
Although both demonstrations and proofs of concepts often involve showing off your product or service, they have some distinct differences.
Demo vs. POC: to understand the difference between these two, you must understand both in-deep.
A product demo is a presentation of your product or service to a current or prospective customer. Your sales team showcases your products and shows their different capabilities of them. It aims to attract customers and clients into buying your product by showing how effective it would be in their business.
The ultimate goal of a product demo is to build trust with your potential customer and ultimately close the deal!
Sales demos play a crucial role in closing deals with your prospects. The demo determines everything from explaining all the features to captivating them to trying your product.
Here are some of the things that stress the importance of a demo;
When you showcase your product without educating your prospects about the features, would they even consider it?
Not at all! That's where the product demo comes in.
It showcases the product and highlights the features of your product in a way that solves the user's pains. A product demo is a key that educates your prospects about the core features of your product and aids in closing deals.
When it comes to deciding the type of product you need, understanding the ins and outs of the product becomes essential. The same applies to your prospects.
In fact, around 80% of people have more confidence in making decisions after watching a product demo. That's huge!
While there is always information available online, it can be challenging to ensure that you have all the significant critical bits at your fingertips before making a purchase decision. Ignition uses the same interactive product demo for their customers and aids them to make a decision,
That's why demos are not only engaging but helpful and necessary when determining the best product to enhance your home or office.
Product demonstrations will help you engage and communicate with your potential customers.
For example, customer demonstrations allow potential customers to experience a product for themselves. This can help their peace of mind knowing what they have purchased and what they will get for the bucks spent.
Now you know how vital a demo is. The next question that pops up in your mind is, what will you get from these demos?
Demos won't stop at providing a better understanding of your product. But they also aid in multiple things like;
POC is short for "Proof of Concept," this is a more formalized version of the trial, which involves leveraging a more in-depth understanding of how your product functions to test it out with specific use cases. It demonstrates how your product will help your prospect's business and how it fits their needs.
The ultimate goal of POC is to understand better how your product may work within the different needs of your customers. This, in turn, ultimately allows you to connect with potential customers by showing that you understand their needs and can offer them something to meet those needs.
Will POC help you close the deals? Hell yes!
POC helps in multiple ways that drive the prospects to take action rather than ghosting. Here are some of the ways that POC can help you close the deals;
Proof of concept shows that a product or service works for a specific area within the buyer's organization. This way, your customers can verify how your product or service works within their environment. It makes it simple for your prospect to understand the value of your product.
POC helps you personalize the demonstration crafted according to the needs of your prospects. Once your prospects know how your product works for their needs, they will make instant decisions instead of delaying the decision-making process.
Your prospects won't care for the number of features available on your products; they care only about the value it can add to their business. With a strategic POC in place, you can demonstrate how your products can bridge the gap between their needs and develop trust in your product.
Trust also goes a long way when it comes down to decision-making that leads to purchase. POC is similar to having a test drive to check whether your product aligns with the user's needs. If they find the test drive worthy, they will gain trust in your product and ultimately end up closing the deal.
Demo vs. POC: A demonstration differs from a proof of concept since the former is a presentation, whereas the latter is the actual implementation. A demo is somewhat similar to an informational, which involves sharing information with people about a product or service in a more relaxed setting.
A POC focuses more on testing the viability of a particular piece of technology by building something that demonstrates how it works. For example, consider the situation of buying a car. A demo is a salesperson explaining the car's features, whereas POC is taking a test drive to experience the features and evaluate whether the car fits your desires or not.
When deciding to show a demo or a proof of concept, there are certain things you have to remember. Fundamentally, one key difference between a demo and a proof of concept is the level of detail: A demo shows costs, timelines, benefits, and estimated return on investment.
A proof of concept goes into greater detail about how this solution will work as it shows off how your product/solution works through an advanced demonstration or test to see how well everything comes together.
Demo vs. POC, whatever the case is, having an interactive demo on your shelf will help you make the best impression on your prospect's mind. Need guidance in creating an interactive product demo? If yes, Storylane is your best partner.
Why overlook its importance if a demo can aid in closing deals? Book a demo, and let's get started.