CPQ (Configure, Price, Quote) cloud solutions are a boon for modern businesses looking for smarter ways to accelerate sales. Together with CRM, CPQ can do wonders for your business.
Modern businesses must ensure that reps are able to support customers since buying behaviors keep changing. With CPQ, you can automate and centralize products, contract renewals, discounting, business rules, and pricing.
Salesforce CPQ cloud solutions make data readily accessible in real-time. With the information at their fingertips, the sales reps are able to respond better and faster to customer needs.
Let’s quickly go over the 5 ways CPQ drives peak sales performance.
#1: Improve Performance
Leaders can create a powerhouse of the focused sales force for establishing a great rapport with savvy customers. Surprisingly, most sales representatives spend only 1/3rd of their productive time selling, whereas they end up wasting their valuable time on administrative tasks, which include searching for information regarding sales in spreadsheets, configuring the data, and pricing each product manually.
Assuming that half of the sales are missed only because your competitors were quick in responding to the customer queries while your skilled reps were busy doing these administrative tasks, you ended up losing half your business to your competitors. With CPQ in place, you can be sure that your sales team is armed with the most useful data that is readily available when they need it for quoting on-the-go, grasping the potential to upsell, and discover new opportunities. Make your team smarter to drive sales and derive profits with CPQ.
A vast majority of customers would happily pay you more if and only they have a great experience. Historically, sales reps have been swearing by competitive offers and relationship building. Today, businesses are more focused on solving customers’ problems and understanding their needs. Leaders can transform their sales representatives into experienced & competent ‘A’ players – capable of suggesting the best products, offers, and discounts automatically with no need for intensive training.
CPQ is a powerful tool in the hands of innovators and modern sales leaders willing to minimize friction and clash in their workflow by obviating manual processes. By eliminating manual work, sales representatives are able to share customized and accurate quotes in seconds.
#2: Fuel Profits
Sales representatives are almost always stressed out about hitting their targets. Are you also among those? Don’t panic! There are countless CSOs who have to struggle to attain set sales-quotas.
Disconnected channels, rogue discounts, and quoting & pricing errors are the common culprits in it. You can boost your sales velocity by being quick in your response to customers and by exceeding the expectations of your stakeholders.
And, this is where CPQ can help you in eliminating pricing/quoting errors, cross-sell & upsell in real-time, and other factors that may affect your business revenues and profits.
#3: Gain Full Control
When you eliminate errors and reduce workflow friction, you are able to grow faster. Customer expectations are here to grow further and that will have a direct impact on the sales quota you need to meet.
With competitive offers raining from everywhere, it is difficult to keep the customers loyal to one business. But that doesn’t mean you need to stress out. With CPQ, you can gain full control of your customers’ sales behaviors and practices.
#4: No Guesswork
CPQ cloud solutions can help sales leaders keep their teams on the right track by ensuring that all the regulations, procedures, and rules around the product, discounts, offers, and pricing are followed. It helps align all the channel users – national as well as corporate regulations.
The sales leaders enjoy great peace of mind as there are no or minimum claims, financial penalties, in case of a dispute.
CPQ solution helps organizations standardize the behaviors of their ‘A’ players by guided selling, rule-based configurations, apt options for upselling and cross-selling, and discount governance.
#5:Simplify Complex Operations
The advanced CPQ solutions offer advanced mobility, new adaptive-intelligence applications, and capabilities of machine intelligence. With these, sales representatives are able to create tailored, precise proposals, and offers for customers when needed, where needed (on which device), and through what channel needed basis. You can, thus, rid your reps of the heavy lifting and help them focus on sales development and customer engagement.
CPQs help sales representatives efficiently convert their leads into customers. Although it’s the sales team who uses CPQ, it must be implemented with other departments. With the correct Implementation, your business will have a good sales process. To know more about CPQ, connect with us or request for a consultation.