The F.A.V.O.R.I.T.E Method: Unlocking SaaS Sales Results Through Demo
Do you want to improve the results of your SaaS sales demo?
The F.A.V.O.R.I.T.E Method by Chris Orlob is an eight-step process designed to make your SaaS product demos more effective and successful.
The method focuses on a combination of direct product demonstration, questions, storytelling, audience engagement, prospecting and follow-up activities to help entrepreneurs succeed and consistently convert their prospects into customers successfully and consistently.
In this article, we’ll explore the “F.A.V.O.R.I.T.E Method” and its 8-steps so you can start using it in your own SaaS sales process and unlock your closing rate.
The acronym F.A.V.O.R.I.T.E stands for:
F
Frame the pain
Before every feature you demo, establish the pain it solves. Don’t just do this at the beginning of your demo; state the pain statement before each feature.
Framing the pain before every feature you demo is essential. This helps establish the feature’s relevance and value to the customer and demonstrates that you understand their specific pain points and challenges.
By stating the pain statement before each feature, you’ll connect the customer’s needs to the solution you’re demonstrating and build a stronger case for why your product is the right fit for them.
It will help you tailor your demo and messaging to the customer’s specific needs, making it more effective and persuasive.
A
Ask a question
After framing the pain, ask a pain-oriented question to establish further what the feature will solve. This is an opportunity to understand the customer’s current pain points.
Asking a pain-oriented question after framing the pain is a great way to establish further what the feature will solve and to understand the customer’s current pain points. This will help you to tailor your demo and messaging to the customer’s specific needs and make it more effective and persuasive.
By asking a question, you will be able to engage the customer in a dialogue, which will help to build a stronger connection and to understand their needs and concerns.
It will also allow you to address any objections or questions they may have and provide additional information that may be relevant to the customer.
V
Visualise the outcome
Before clicking around, establish the value of the feature by getting your customer to visualize it. This helps to build excitement and anticipation for the feature.
By getting the customer to visualise the outcome, you are helping them see the feature’s potential benefits and how it will help them solve their pain points. This can help to build excitement and anticipation for the feature and make the customer more invested in the demo.
Visualising the outcome, you are also helping the customer understand the feature’s potential impact on their business and how it can help them achieve their goals.
It will help the customer imagine themselves using the product, making it more relatable and relevant to them, increasing the chances of closing the deal.
O
Orient them to the screen
Once the value is established, take a few seconds to make sure your buyer knows what they’re looking at on the screen share.
It is important to orient the customer to the screen, especially if they are unfamiliar with the interface or the product. This will help to ensure that they understand what they’re looking at and can follow along with the demonstration.
By orienting the customer to the screen, you are also helping to build their confidence and understanding of the product, making them more likely to see the value of the feature.
It will help avoid confusion and misunderstandings during the demo and ensure that the customer gets the most out of it.
R
Reveal the workflow
This is where you demo the feature in the traditional sense. Show the customer the workflow the feature enables and how it solves the pain.
Revealing the workflow is where you demonstrate the feature in the traditional sense.
This is an opportunity for the customer to see how the feature works and how it can help them to solve their pain points.
By showing the customer the workflow, you are also providing them with a clear understanding of how the feature will integrate into their current processes and how it can help them to achieve their goals.
This will help to build their confidence in the product and make them more likely to see the value of the feature. Also by showing the workflow, you will be able to answer any questions or concerns they may have and address any objections they may have.
I
Implant the value
Surround your feature demo with value. Start and end the feature demonstration with it. After you show the workflow, state the value statement.
It is important to surround the feature demo with value by starting and ending the feature demonstration with it.
This helps emphasise the feature’s value and keep the customer focused on the product’s benefits.
By starting and ending the feature demonstration with value, you are also helping to create a clear connection between the feature and the customer’s pain points, making it more relevant and relatable to them.
After you show the workflow, it is a good practice to state the value statement, which summarizes how the feature will help the customer to achieve their goals and how it can help them to solve their pain points.
This will provide a clear and concise summary of the value of the feature and make it more memorable for the customer.
T
Tell a story
People remember stories and forget clickpaths. After you show your feature and establish its value, tell a success story of how another customer is winning with that feature.
Telling a story is a great way to make the demo more memorable and relatable for the customer. People tend to remember stories and forget click paths, so by sharing a success story of how another customer is winning with the feature, you are providing a tangible example of the value of the product.
The story should be related to the customer’s pain point and the feature you just presented.
This way, it will be more relatable and easy for the customer to understand. It can also help build trust and credibility, as the customer can see that the product has helped other businesses succeed.
It can help create a sense of urgency and inspire the customer to take action by showing them that other businesses have seen results and they can too.
E
Elicit a response
Finally, ask a post-feature question to get the customer talking. This is an opportunity to understand how the feature compares to their current solutions.
Eliciting a response is an important step in the demo process. By asking a post-feature question, you are giving the customer an opportunity to provide feedback and express their thoughts on the feature.
This can help you to understand how the feature compares to their current solutions and whether it aligns with their needs and goals. It also gives the customer an opportunity to raise any concerns or objections they may have, which will allow you to address them and provide additional information.
Additionally, it allows you to gauge the customer’s level of interest and engagement in the product and help you determine the next steps in the sales process.
By following this acronym, you’ll be able to structure your demo in a way that effectively communicates the value of your product and addresses the customer’s pain points. It will help you build a persuasive and memorable demo, increasing the chances of closing the deal.