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I would suggest that there's a subtle difference between "progressed past the demo" and "converted". 50% progression past the demo is reasonable. 50% conversion would be amazing.

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Yes, this is what I meant. I would say that for over half the demos I gave, that was my last time talking to that prospect. For the rest, some of them would go a few more meetings and fizzle out, and some would convert to actual sales.

Well If I demo a product and clearly see it's not fit for my org, what more is there to talk about ?

There are things that you can't really covey good in text or voice communications, but usually quick to see on the demo.

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