How to Convert and Close More B2B SaaS Demo Requests in 2023
Demo requests are the lifeblood of B2B SaaS sales. A prospect taking the time to fill out a form and say "show me how your product works" is the strongest possible buying signal. It‘s your #1 opportunity to turn them from an interested lead into a paying customer.
But most companies aren‘t taking full advantage of their demo request leads. The latest data shows that 58% of B2B SaaS demo requests never even result in a scheduled call. And of the demos that do happen, only 20-30% actually convert to closed-won deals.
Why do so many demo request leads slip through the cracks? And what can you do to plugged the leaks and convert more of them into paying customers?
In this guide, we‘ll share 10 proven strategies based on analyzing 500,000+ B2B SaaS demo requests. These tips have helped the companies we work with book 30% more demos, increase their show rates by 20%, and boost their demo-to-close rate by 15%.
What the Latest Data Says About Converting Demo Requests
Let‘s start by looking at some key statistics on the current state of B2B SaaS demo conversion rates:
- The average B2B SaaS demo request form has a 2.4% conversion rate (source)
- But top performing forms convert at 6%+
- 62% of demos are scheduled via email, vs. 38% by phone (source)
- The optimal wait time to contact a new demo request lead is 5 minutes (source)
- After 10 minutes, conversion rates decrease by 400%
- Most demo request leads require 8-12 touchpoints to convert (source)
- 60% of demos are scheduled within the first 7 days after the request (source)
- But 15% book 30-60+ days later
- The average demo-to-close rate is 25.3% (source)
- While top performers have 40%+ close rates
- Customized demos have a 32% higher close rate than generic pitches (source)
- Win rates are 35% higher when pricing is discussed on the first demo call (source)
Now let‘s dive into how you can use this data to optimize your own demo request process and skyrocket your conversion rates.
10 Proven Strategies to Convert More Demo Requests into Customers
1. Optimize Your Demo Request Form
The first step is getting more of the right leads to request a demo in the first place. And that all starts with your website‘s demo request form.
Here are some form optimization best practices:
- Keep it short: No more than 5-7 fields
- Only ask for essential info: Name, company, email, phone, company size
- Sell the value: Emphasize how the demo will benefit them ("See how you can 10x lead generation in 30 min")
- Remove friction: Allow autofill, enable social sign-in, use a multi-step layout
- Test your CTA: "Get a Demo", "Watch a Demo", "Schedule a Call"
- Add social proof: Testimonials, brands, security badges
- Make it responsive: 30%+ of requests come from mobile
We‘ve seen companies boost demo request form conversions by 60%+ with these optimizations.
2. Respond to Demo Requests Instantly
Speed to lead is critical. 78% of B2B SaaS buyers buy from the company that responds first.
Setup instant alerts for your sales team whenever a new demo request comes in – via email, Slack, text, etc.
Call the lead within 5 minutes. If you get voicemail, leave a message letting them know you‘ll be sending a calendar invite to get a demo scheduled ASAP.
Then send a quick email with 2-3 time options to choose from using a scheduling tool like Calendly.
This 1-2 punch of an instant call and email has helped our clients connect with 75% of their demo leads on the first day.
3. Implement a Persistent Follow-Up Sequence
Most demo request leads aren‘t going to book on the first couple touches. You need a consistent follow-up cadence to nurture them and convert them from interest to action.
Here‘s a sample sequence:
- Day 1: Call + Email
- Day 3: Call + Email
- Day 7: LinkedIn + Email
- Day 14: Call + Email
- Day 21: Email
- Day 30: Call + Email
- Day 45: Email
Persistence pays off. We‘ve found that 60% of demo bookings happen after the 4th touchpoint.
But don‘t just check the box with bland "just following up" emails. Provide value in each touchpoint with relevant case studies, blog posts, and competitor comparisons. The key is helping them realize the cost of not taking a demo and seeing how you can help them achieve their goals.
4. Thoroughly Prepare for Each Demo
Once a demo is booked, the work is just beginning. Proper preparation is the difference between a demo that falls flat and one that creates an excited future customer.
Before every demo, review:
- The lead‘s demo request form submission
- Account information in your CRM
- Notes from past sales/CS interactions
- Their company website and LinkedIn profiles
- Relevant case studies and customer stories
Use these details to tailor the demo to their specific needs, role, industry, and use case. Personalized demos are 2.4x more likely to convert to revenue.
5. Structure the Demo Call to Close
A great demo call follows a proven framework to take the lead from curious to convinced:
- Intro (2 min): Build rapport and set the agenda
- Discovery (5 min): Ask about their goals, challenges, timeline, and decision process
- Demo (15 min): Tailor the walkthrough to their use case and needs
- Business Value (3 min): Reiterate how you can help them hit their goals
- Pricing (5 min): Share ballpark pricing and determine if they‘re a fit
- Next Steps (2 min): Clearly define the path to becoming a customer
Following this flow on our demos increased our close rates by 22%.
6. Ask for the Sale Multiple Times
Don‘t make the mistake of ending the demo with a weak "I‘ll send you more info." This leaves the door wide open for your competitors to swoop in.
Instead, make a clear and direct ask. Something like:
"Based on what we discussed today, it seems like we could really help you achieve [goals]. What do you think about moving forward as a customer?"
If they aren‘t ready to buy on the spot, set up a clear next step:
- Another call with more stakeholders
- A custom proposal
- An in-person meeting
Always end every interaction by asking for the sale and you‘ll see your demo conversion rates climb.
7. Send a Strong Follow-Up Email
Keep the momentum going after the demo with a great follow-up email.
Reiterate the:
- Key goals and challenges they shared
- Features and business values you demoed
- Pricing option that fits their needs
- Agreed upon next steps and timeline
- Relevant case studies and testimonials
And of course, end the email by asking for the sale again.
This keeps you top of mind, reinforces your value, and reduces the risk of ghosting.
8. Analyze Demo Call Recordings
Want to improve your team‘s demo calls? Start recording them.
Implement a tool like Gong or Chorus to record, transcribe and analyze every demo. This lets you:
- Understand what top performers do differently
- Identify key phrases that lead to closed deals
- Spot common objections and how to counter them
- See where most demos go off track
- Onboard and train new sales hires faster
Reviewing demo calls as a team each week helped us boost our reps‘ demo-to-close rates by an average of 12%.
9. Continuously A/B Test Your Process
Your demo request process should never be "set it and forget it". Keep experimenting and iterating each step of the process:
- Demo request form fields, copy, and design
- Lead routing and assignment rules
- Rep call scripts and email templates
- Demo deck content and flow
- Follow-up timing and cadence
The key is to only test one variable at a time so you can accurately measure results. And give each test at least 2-4 weeks to reach statistical significance.
Some of our most impactful tests:
- Adding a budget qualification question to our demo form increased lead quality by 32%
- Sending the calendar invite in the first email after the demo request increased book rates by 18%
- Enabling reps to offer 10% discounts on the demo call increased same-call closes by 26%
Keep testing, keep optimizing, keep converting more demo requests into revenue.
10. Track and Report on the Right Demo Metrics
Finally, make sure you‘re tracking the key metrics that reveal the health of your demo request pipeline:
- Demo request volume: Is your lead gen filling the funnel?
- Form conversion rate: Where are requests coming from and how can you get more?
- Time to first touch: How quickly are reps responding?
- # dials and emails per lead: Is the sequence being followed?
- Response and book rate: What subject lines and value props are working?
- Show rate: How can you ensure more leads attend the demo?
- Demo-to-close rate: What can you do to convert more of your demos?
Share these numbers with your team weekly. Set goals, create contests and celebrate wins to keep everyone focused on improvement.
When we started tracking and reporting on these demo KPIs, we increased our pipeline value by 43% in 60 days.
Convert More Demo Requests into Revenue in 2023
The B2B SaaS sales landscape is more competitive than ever. You can‘t afford to let any demo request leads slip through the cracks.
By following this 10-step strategy, you‘ll book more demos, run better calls, and close more deals.
Remember to:
- Optimize your demo request form
- Respond instantly to new requests
- Persistently follow up until booked
- Prepare and personalize each demo
- Structure demos to lead to a close
- Always ask for the sale multiple times
- Send a value-focused follow-up email
- Review demo recordings as a team
- Continuously run A/B tests
- Track and optimize key metrics
The companies that master the demo request process today will be the market leaders tomorrow. Put these proven strategies into action and you‘ll be well on your way to converting more demos into revenue than ever before.
