What is a Product Demo? 

A product demo is a demonstration or presentation of a product’s features, functions, and capabilities to potential customers, clients, or partners. The goal of a product demo is to educate and inform the audience about the product, increase awareness, generate leads, and drive sales. Salespeople take this opportunity to introduce a product, its functionalities, and its value to potential customers. 

Product demos can be live, pre-recorded, digital, self-service, hands-on, or focused on a specific business challenge and may include interactive simulations, videos, live presentations, and hands-on testing. 

Why are software product demos important? 

Software product demos play a critical role in the sales and marketing of a product and ISVs can effectively communicate the value of their product to potential customers. It offers grounds for customers to make up their minds in closing the deals. Software product demos are important for several reasons, including: 

1.  Education: Demos allow potential customers to learn about the product’s features, functions, and capabilities, helping them to make informed decisions about whether the product is right for them. 
2. Lead Generation: Demos can be used to generate leads by identifying potential customers who are interested in the product and want to learn more. 
3. Sales: Product demos can help close sales by addressing the customer’s questions, concerns, and objections and providing them with a clear understanding of how the product can meet their needs. 
4. Differentiation: Demos can help a company differentiate its product from its competitors by highlighting unique features and capabilities. 
5. Customer Feedback: Demos provide an opportunity for customers to provide feedback about the product, which can be used to improve the product and better meet the needs of the market. 
6. Increased Awareness: Demos help to increase awareness of the product and build brand recognition.

What is a live product demo?

A live product demo is a real-time, interactive presentation of a product’s features, functions, and capabilities to potential customers, clients, or partners. In a live demo, the presenter demonstrates the product and answers questions from the audience in real-time. The presenter may use a variety of tools, such as slides, videos, and interactive simulations, to showcase the product and its features. 

Live product demos are typically conducted in person but they can also be done remotely through virtual hands-on labs. The goal of a live product demo is to educate and inform the audience about the product and to help them make informed decisions about whether the product is right for them. It also allows the presenter to build a relationship with the audience and to respond to their questions and concerns in real-time. Hands-on simulation labs have proven to deliver some of the best product demos for the software industry. 

How to demo a product? 

A product demo should be carried out in such a way that it clears up any product-related concerns your customer might have. You can solve any problem areas by providing PoCs (Proof of Concepts) to prove your product’s effectiveness. It can solidify your customers’ interest in your product. Further, you can follow some best practices and tips. 

Product demo best practices and tips: 

• Discover and gather insights from prospects 
• Customize the demonstration to specific requirements 
• Prove the product can solve their problems to achieve business goal 
• Have a strong feedback system

Virtual lab based product demos can boost your product’s reach to a wider audience while also making them highly-engaging and cost-effective.