How to Give a Really Bad Demo, Banking Edition

Ten Worst Practices from Actual Experience
by Donald Light,  Stephen Greer, December 11, 2012
Other
Global

Abstract

Giving a bad demo is obviously against vendors’ best interests—and also serves the interest of prospective buyers poorly—that this report has abandoned the usual “10 Best Practices for Giving a Great Demo” approach.

In the report How to Give a Really Bad Demo, Banking Edition: Ten Worst Practices from Actual Experience, Celent uses humor, satire, and a tongue-in-cheek perspective to help vendors and those who want to buy solutions from vendors to have better and more effective demo experiences.

“There is no particular reason a vendor would want to give a bad demo to a prospective buyer of its software, and yet, vendor selection teams and analysts sit through a lot of really bad demos--and to be fair, bad stretches in some pretty good demos,” says Donald Light, Research Director with Celent’s Insurance Group and author of the report. “Why this should be is both puzzling and troubling.”

This 17-page report presents ten “worst practices” based on actual experience—ranging from “Don’t try to understand the bank” to “Business value: Don't even go there.” The goal of the report is to make vendors and banks break a smile and think about how to make demos work for them.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

1

Introduction

2

Worst Practice One: Don’t Try to Understand the Bank

3

Worst Practice Two: Give the Same Demo You Always Give

4

Worst Practice Three: Don’t Waste
Time Convincing the Bank that You
Are a Good Long-Term Partner

5

Worst Practice Four: If You Get a Hard Question, Don’t Answer It

6

Worst Practice Five: Business Value? Don’t Even Go There

7

Worst Practice Six; Spend as Much Time as Possible in the Business User Environment

8

Worst Practice Seven: Don’t Demonstrate the Current Version

9

Other Worst Practices that Don’t Need a Full Page to Write About

10

 

Eight: Don’t Give People a Chance to Understand New Screens

10

 

Nine: Don’t Tune Your Demo for the Bank’s Presentation Environment

10

 

Ten: Don’t Repeat Questions or Answers for Anyone on a Conference Line

10

Conclusion

11

Leveraging Celent’s Expertise

12

 

Support for Financial Institutions

12

 

Support for Vendors

12

Related Celent Research

13

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