Reduce Churn, Increase Revenue, and Scale Up with CPQ

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REDUCE CHURN,

• INCREASE REVENUE, AND SCALE-UP WITH CPQ

DOCMATION 2020
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Overview
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The quote to cash software and strategies in the
current market is evolving swiftly with greater
precision. This happens in every aspect of the
sales cycle, from product pricing to the process
of complex product configurations. The
Salesforce CPQ offers in-depth insights into the
customers needs and enables them to act smart.
Such traits allow winning the latest deals in
the complex and competitive selling space. CPQ
implementation can drive peak sales performance
of the organization.
Let us discuss how to reduce churn rate and
increase revenue streams and scale up with CPQ
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1) Enhances Performance
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To drive productivity in the new CPQ sales
environment, business leaders can build a
powerhouse salesforce to establish a
relationship with buyers. The truth is that most
sellers only spend 30 per cent of their time
building relations with the customer selling the
product. The remaining time is used in
administration tasks, searching for sales
information in spreadsheets. They have to
configure and check the pricing of products
manually. With CPQ, they could work smarter,
respond faster, and delight customers better.
The CPQ platform will also enable the seller to
provide customers with a more authentic and a
great experience. The focus of the current market
has been shifted to helping customers and fulfil
their needs and solve their problems. Sales
leaders are also reducing friction in their
workflow by using Salesforce CPQ solutions and
eliminating manual processes. When you remove
the need to update spreadsheets and disconnected
ERP and CRM systems manually, then sales reps
will be able to deliver customized and accurate
quotes in minutes.
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Reliable CPQ software will also lead to a reduced
churn rate by maximizing face to face selling
time. Modern CPQ software offers mobility,
machine intelligence, and newer applications
allowing sales representatives to create
tailored proposals and offers for the customer
making use of the right channels on the right
devices. It also reduces heavy lifting, allowing
sales reps to focus more on sales development
and engagement.
2) Reducing
Churn Rate
To close deals faster, one needs to respond
quickly, supportively, and accurately to advance
the interest of the customer. With the help of
the right Salesforce CPQ Solutions, one can
provide the power that your team might need to
perform better.
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3) Fueling more
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Is there a figure of profit that you want to
achieve? Well, you are not alone, as every firm
target to achieve growing revenue each year. But
not all of them have the vision to achieve these
targets. The quoting process for most complex
deals will require gathering data from various
channels and sources. It will increase the
chances of errors.
profits
When you are eliminating pricing books with
spreadsheets, you can automate the process with
CPQ software. You will be able to drive higher
win rates, increasing customer retention and
helping sales representatives reach their
targets.
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4) Avoids Outdated Information
Transfer
60 of customers want to talk about pricing on
their first call. When the sales representative
relies on an excel spreadsheet, there are
chances that they come up with an outdated
pricing structure. With CPQ software, this will
make it easier for sales reps to make the right
product and the service through which they will
be able to close bigger deals with increased
margins and growing revenue.
The primary focus is to move more deals faster.
With the help of Salesforce CPQ implementation
at the centre of your sales process, you will be
able to drive more profits and productivity.
Research conducted by the Aberdeen Group shows
that users who are using CPQ shorten their sales
cycle by 13. It will reduce the average sales
cycle from 4.68 months for non-CPQ Users to 3.42
months of CPQ users. According to this study,
non-CPQ users had 7.1 conversations per deal, but
CPQ users had 6.6 conversations in business
transactions.
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5) Regaining Control
There is pressure among sales representatives to
meet new customer expectations and higher
quotas. To overcome this, they may change the
price because of some competitive offer. They
can also sometimes issue discounts based on gut
feeling. Modern sellers do not leave
profitability and productivity to chance. As
leaders in sales are excellent, they are taking
every advantage of the CPQ platform to control
the sales practice and behaviours. CPQ is going
to help sellers to take the right- first-time
approach and get desired business outcomes.
Having this kind of transparency is going to
give sales representatives peace of mind. It will
also reduce exposure to financial penalties and
claims if some product or service is disputed.
With an increase in demand and competitive
factors, it becomes essential to minimize the
impact of uncertainty and making constant change
is complicated. CPQ software will make it very
easy for you to drive the right sales behaviour
by maximizing risk and regaining control over
important factors of the business.
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A final thought
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The Salesforce CPQ platform helps in gaining more
insight by collecting great amounts of data
captured in the sales and marketing departments.
You will also be able to take the customer
preferences in the account, and it will become
one of your selling strategies.
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Get in touch
with us For inquiries on our services
Email info_at_docmation.com
Website www.docmation.com
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