CPQ Solutions – Looking Beyond ROI
Last week we took a look at specific things that could be measured to establish data points for an ROI analysis of CPQ software. This week we’re going to look beyond the numbers at some of the less-tangible, but nonetheless real advantages to implementing CPQ solutions.
CPQ Solutions and Customer Satisfaction
Customer satisfaction is important to almost any business. Customer satisfaction is always earned in that you can’t just create it in a mission statement or put it on a banner. CPQ software helps companies earn customer satisfaction by delivering error-free information, pricing and products quickly.
Customers also learn to trust vendors that consistently do what they say they are going to do, provide them with accurate and timely information and don’t let them down in terms of meeting requirements that were agreed to during a sales cycle. Big-ticket-item sales can make or break a career. If doesn’t take a lot of executive blood for a reputation to develop. If you’re perceived as a career-risky choice, you’ll not win the deal.
On the other hand, customers who know they can depend on you when things get tough will put you first in line when it comes time to spend money.
Professional Image and CPQ Solutions
Sales reps use many approaches to help build the customer’s confidence in them as a resource for knowledge and solutions.
Dressing well, maintaining an air of assurance without being arrogant and displaying curiosity and empathy about the customer and their needs all contribute to a positive image.
Consider demeanor. In the following paragraphs, which of the two sales reps inspires more confidence?
Joe comes into your office, sits down and asks what he can do for you. As you begin to explain your situation, Joe stares at you and jots down an occasional note. When you ask a question, Joe shrugs and tells you he will need to “get back to you” on that. When you ask about price, Joe digs around in his briefcase, fumbles through some price lists and again tells you he’ll have to get back to you.
On the other hand, Bob comes into your office with a tablet in hand and asks you if he can confirm a couple of things to make sure he understands what you’re looking for. The rest of the appointment is spent in a detailed discussion about your situation and the pain it’s causing. Bob frequently circles back and confirms what has been decided. At the end of the discussion, Bob produces a quotation and offers to deliver a proposal as soon as is appropriate.
CPQ solutions make your reps look like they know what they are doing, and it helps them project a professional image while enabling them to confidently address your needs.
Speaking of Proposals
Proposal requests are a sure sign that you are making progress during a sales cycle. Too often, the actual creation of the proposal is seen as a pain. Some reps even toss this task over the transom to an admin or to a marketing support person.
This is unfortunate because proposals should be a reason for celebration, and the creation of the proposal should be a natural extension of the selling process. Configure-price-quote software should be able to automate the proposal-generation process.
Relevant, professional, complete proposals should be easy to produce. CPQ solutions collect all of the product information, and the interviewing process within CPQ can facilitate the specific information that the customer needs to be included in the document.
Proposals should be available quickly, easily and essentially on-demand. This ensures a consistent message delivery presentation to the customer, accurate information and a professional document.
Confidence Is Built on Success, and Success Is Built on Confidence
Configure-price-quote software simultaneously takes the product-knowledge detail load off of your rep while also ensuring that your rep is better able to quickly and accurately respond to your prospect’s need.
Knowledge regarding product capability and product pricing is maintained with CPQ and delivered as needed and on-demand to your rep transparently and quickly, enabling your reps to convey the confident image of the expert.
Albert Einstein once remarked that he didn’t need to remember his own phone number, he only needed to know where to find a phone book. CPQ is built on that premise. The customer will have greater confidence in your sales rep, your solution and the information you share about them.