An effective product demonstration is priceless. However, it is an art to perfect.
For most, the main challenge is balancing the right content within your allocated time.
This certainly was the case when Ryan and I were invited to showcase CoinJar at Finovate Europe 2015.
Finovate is Europe’s best financial innovation conference, and its format is quite unique. International companies present their latest product offerings in time slots of seven minutes only.
This was the first time that CoinJar had ever presented on a global stage, and it went on to also become the first time we took home a ‘Best of Show’ award for a demo.
We succeeded at Finovate because we had a strong purpose and a plan.
Even though our demo was only seven minutes, the planning process involved our entire team from engineering to support.
We had to be clear with our priorities and focused on the outcomes.
We learnt a few lessons and tips along our journey to that ‘Best of Show’ award, and these will definitely come in handy when you showcase your next product.
1. Don’t be afraid to change your demo’s structure
Spend time working out a framework that showcases the best features of your product. It’s tempting to show every single feature, but focus on the best and your demo will be more effective.
2. Less talk, more show
Get straight into the demo as soon as possible. If you plan well, you should be able to pepper your demo with explanations and examples that give your product context.
3. Tailor your demo to the audience
If they’re a tech-savvy audience, skim over the basics quickly. If they’re business folk, focus on how it applies to their industry. Make sure the examples you use relate to their work and lifestyle too.
This isn’t just applicable to the content, but also to what devices you use and what choice of clothes you choose to wear.
4. Repeat, repeat, repeat
Humans naturally have a short attention span. Signpost your demo by telling your audience at the start what you’ll show them, show them, then tell them again what you showed them and highlight why they need to remember.
Repeating key lines can be incredibly effective in getting your point across, but like any great weapon, remember to use it sparingly.
5. Practice makes permanent
As soon as you can, have full rehearsals, because how you practice will be how you perform. Make your rehearsals as realistic as possible, with all the devices you need. To make it look effortless, it takes a lot of practice.
We found that after our Finovate demo, our team had established a workflow and routine for future events like these. Putting the tips above into practice will extend beyond the demo you are practicing for, and that is worthwhile.
Asher Tan is the co-founder and CEO of CoinJar, one of Australia’s best Bitcoin platforms. Through the CoinJar platform, users can interface with digital money and buy, sell, send, receive and spend Bitcoin. CoinJar started in May 2013 and has since processed over $50 million in transactions for over 45,000 customers worldwide.