An interactive demo platform provides significant ROI. From helping increase top-line revenue to delivering better sales and marketing efficiency, to impacting customer and employee success, interactive demos provide fast and meaningful ROI.
Here are some of the ways that an Interactive Demo Platform like StoryScale will positively impact your business:
Increasing Inbound Conversion Rates
To maximize ROI and increase inbound conversion rates, businesses should invest in an interactive demo platform.
Interactive demos can provide a better customer experience by offering personalized product tours tailored to the individual user's needs. Through an interactive demo platform, you can track customer interactions and quickly develop targeted campaigns to encourage customers to take action.
The result is higher conversion rates due to the enhanced customer experience and improved product education.
Accelerating Sales Cycles
An interactive demo platform can help accelerate sales cycles by allowing you to quickly demonstrate youe products and services in a more organized manner.
Through personalized product tours, you can showcase your products in a more organized way, which is beneficial for both new users as well as existing customers who may be looking for additional features or options.
The interactive demos also allow customers to learn about specific features or products, allowing them to make informed decisions and complete their purchases faster.
Automating Human-Led Demos
Investing in an interactive demo platform helps automate human-led demos and eliminates the need for manual processes and labor costs associated with running traditional demos.
An automated system allows you to easily create customized product tours that target specific customer segments while also tracking user interactions and providing valuable feedback that can be used to improve future content or strategies.
Automation also significantly reduces time spent creating new demo content, allowing teams to focus on other activities that could benefit ROI, such as marketing initiatives or product development.
At StoryScale we are able to deliver thousands of product demos from our website. While these demos are high-level, they automate what would typically be an introductory or discovery call led by a rep. When customer do book live demos, they are already product educated, accelerating the sales cycle and leading to more meaningful interactions.
Reducing the Cost and Time of Demo Creation and Development
An interactive demo platform can help reduce the cost and time associated with demo creation and development.
Interactive demos eliminate the need for manual processes and labor costs associated with traditional demos. Additionally, an interactive demo platform allows businesses to create customized product tours tailored to specific customer segments quickly. This allows businesses to focus on creating higher quality content, improving ROI by showcasing their products key feature or “Aha Moments."
Interactive demos also track user interactions and provide valuable feedback, which can be used to improve future strategies or content.
Lowering Demo Hosting and Infrastructure Costs
Interactive demo platforms also lower hosting and infrastructure costs associated with traditional demos.
By reducing labor costs associated with creating manual demos, you can save money on software licenses, server maintenance fees, bandwidth expenses, etc. Additionally, an interactive demo platform provides a self-service system you can use any time without hiring additional personnel or incur overhead costs associated with running traditional demos.
Achieving Higher Sales Win Rates
By investing in an interactive demo platform, you can achieve higher sales win rates due to the improved customer experience provided by product tours.
Interactive demos allow users to learn about specific features or products, whether through a self-service sales motion (Product-led Sales) or a traditional sales-led demo. Additionally, by providing personalized product tours tailored to customers' needs and interests, you can create stronger relationships with customers resulting in higher sales win rates overall.
Higher Customer Retention and NRR from Onboarding and Training
Investing in an interactive demo platform can help businesses enjoy higher customer retention and Net Revenue Retention (NRR) from onboarding and training.
Interactive product tours allow customers to easily understand the features of the product or service being offered. This helps customers make informed decisions, resulting in higher customer retention rates as they become more familiar with the purchased products.
Additionally, interactive demos provide valuable feedback which can be used to improve future content or strategies. This allows product and sales team sto tailor their product offerings to fit their customers’ interests better, helping them achieve a higher NRR from onboarding and training by decreasing churn rates.
Allowing for Faster Seller/Employee Ramp-up Time via Self-Service Product Education
By investing in an interactive demo platform, your company can benefit from faster seller/employee ramp-up times due to self-service product education.
Interactive demos allow employees or sellers to quickly understand their products without additional manual assistance or one-on-one training sessions. This streamlines the process of onboarding new hires while reducing costs associated with hiring additional personnel or providing ongoing training seminars and workshops.
Furthermore, interactive demos allow employees to access relevant product information as needed, helping them stay up-to-date on any changes or new features that may be released over time.
Providing Improved ROI through Increased Efficiency
Finally, investing in an interactive demo platform can provide your business with improved ROI through increased efficiency. Automated processes within the platform reduce the need for manual labor associated with traditional demos, allowing businesses to focus on other activities that could potentially improve ROI, such as marketing initiatives or product development.
Wrapping it Up
Investing in an interactive demo platform is a great investment for any business looking to maximize ROI. With automated processes, reduced infrastructure costs, and tailored product tours that engage customers more effectively than traditional demos, businesses can enjoy improved ROI through increased efficiency while still delivering the necessary content their customers need to make informed decisions.