In today’s intensely competitive and evolving B2B world, the inability to provide accurate and timely quotes and slow lead response time negatively impact the win rate. And that’s exactly where Salesforce CPQ (Configure, Price, Quote) software emerges as a winner in the landscape of sales automation in both B2B and B2C segments.
There is no denying that Salesforce CPQ Software can significantly accelerate the sales teams, but what about the journeys and experiences from the other side? In this blog, we will learn about Salesforce CPQ and explore its impact on the journeys and experiences of customers. We will also gain invaluable insights into how Salesforce CPQ can stimulate measurable ROI for your business and drive increased satisfaction.
What Is CPQ Software?
Salesforce CPQ Software can be best described as an automation tool that is designed with a predefined purpose of accelerating the quote-to-cash process. This is done by enabling sales reps to dynamically build and deliver quotes for different custom packages.
With the rise of Machine Learning and Artificial Intelligence, Salesforce CPQ Software is going much beyond sales automation for providing invaluable insights such as personalized and recommended products, tailored product configurations, and dynamic pricing suggestions throughout the quoting journey. It is a given fact that sales reps are better positioned to close deals fast and maximize potential profitability by exploring these Salesforce CPQ out-of-the-box features.
Why Do You Need CPQ?
Salesforce CPQ is extremely beneficial when it comes to automating the quoting process and offering a seamless customer experience – two advantages that leave a long-lasting impact on the efficiency of sales teams and customer satisfaction.
Businesses using custom Salesforce CPQ solutions generally experience a shorter sales cycle, primarily driven by features such as streamlined product configuration and automated quoting. This, in turn, speeds up the sales process. In other words, sales reps can spend more time bringing customers closer and selling quickly and more instead of spending countless hours on calculating new quotes.
One of the biggest advantages of Salesforce CPQ Software is its unique ability to transform the sales process by automating and streamlining the often complicated quoting operations. Furthermore, quoting productivity improves significantly with Salesforce CPQ solutions as the Salesforce CPQ software offers accurate quoting to customers at the same time they customize their products in real-time. This helps sales reps send out accurate and quick quotes, proposals, contracts, and more without spending a lot of time, effort, and other resources.
The list of advantages associated with the Salesforce CPQ software does not end here. It helps in identifying the best possible up-sell and cross-sell opportunities that further assists sales reps to increase the volume of their average deal size. In short, Salesforce CPQ Software facilitates a quick and easy-to-use ordering process that encourages customers to complete their orders. Not only this, CPQ-powered solutions promote conversion rates and reduce order cancellations.
Should You Invest In CPQ Software?
Here are some indications that the Salesforce CPQ Software is the perfect fit for the specific requirements of your business:-
Challenge 1: Sales reps find it difficult to quote the best product when products are complex.
If your business deals in complex products that require configuration, sales teams generally face a lot of trouble to make smart quotes to the customers. It is highly recommended that you must invest in Salesforce CPQ to not just build the rules and validation when building the configured products but you should also educate and guide the users to help them make smart and informed decisions.
Time Spent on Quotes
Challenge 2: Sales representatives are spending countless hours to generate quotes rather than selling.
Sales reps are more likely to spend more time generating quotes than selling when products or pricing is complex. Some organizations try to minimize this impact by asserting the creation of a separate deal desk for configuring the products. However, this dramatically adds lead-time, costs, errors in translation of the requirements, and issues because of communication errors. The ideal solution is to explore the Salesforce CPQ Software that makes the entire process of quote generation easy, simple, and quick.
Missed Sales Opportunities
Challenge 3: Opportunities to cross-sell and up-sell are being missed.
In a sales cycle, there are always opportunities to up-sell or cross-sell other products. Recommendations and appropriate suggestions powered by Salesforce CPQ can help in ensuring that these opportunities are not missed. It also helps in ensuring that the appropriate product is positioned with the customer.
Still, wondering how Salesforce CPQ can transform your business? Do you need any kind of assistance regarding Salesforce CPQ Solutions or Salesforce CPQ implementation? Our teams of certified CPQ specialists can help you increase the efficiency of the entire organization with Salesforce CPQ implementation.