How to Increase Sales With Salesforce CPQ & Data Integration
One of the biggest challenges when scaling up a company is the increasing level of complexity in business operations. In addition, expansions often include introducing new product lines, better service packages, add-on benefits, and discounts.
If you are not cautious about your strategy moving forward, you can muddle up existing deals or even turn away potential customers. That is why many companies opt for a CPQ (configure, price, quote) software implementation when venturing into the B2B environment.
Salesforce CPQ is one of the most popular and effective solutions for SMEs and large corporations alike. However, to get the most out of Salesforce CPQ, you need to integrate it with your existing ERP system data. Better data to work with ensures that your CPQ solution functions seamlessly when you automate your sales process.
If you are relatively new to the concept of Salesforce CPQ, here is a quick refresher.
Salesforce CPQ is a robust sales tool that companies use to automate their sales processes. It allows them to generate accurate quotes pertaining to the sales quickly. Salesforce CPQ eliminates the need to generate and review quotes manually while eliminating the possibility of mistakes when sharing quotes with potential customers.
Salesforce CPQ is part of the Salesforce Sales Cloud and helps sales teams configure products based on a customer’s requirements. Sales teams can also customize pricing and discounts before the quotes make their way to the customers.
The automation improves the sales process substantially, and if you integrate it with Salesforce CRO, you can complete the QTC (quote to cash) process from your Salesforce instance itself.
Now that you have a clear understanding of what Salesforce CPQ is and what it is used for, it is time you looked at how you can increase sales by integrating your data with Salesforce CPQ.
Let’s get started.
How You Can Increase Sales with Salesforce CPQ
- Easy Product Configuration
You can use Salesforce CPQ’s robust configurator to manage complex product configurations. Moreover, you can improve the sales process with automated quotations, pricing, technical drawings, and product descriptions.
- Better Pricing Mechanisms
Pre-defined pricing hierarchies allow your sales teams to offer the best pricing to B2B customers for the entire range of products. Salesforce CPQ allows your teams to determine optimal discounts without sacrificing significant profit margins based on the quantity and volume of orders at hand.
Also, Salesforce CPQ factors in several price adjustment features based on elements such as price overrides, markups, and discounts, thus giving you more control over customized pricing for B2B clients.
- Assisted Selling
Assisted or guided selling allows your customers to evaluate their business requirements and make purchases after taking factors such as operational costs, planned usage, pricing, and energy efficiency into the mix.
- Automated Proposal Generation
Automating the sales process allows your teams to close the proposals quickly and enables them to create comprehensive sales proposals without wasting time in manual calculations.
This capability is further enhanced by offering e-signatures to approve the proposals legally and protect users from the risks associated with electronic transactions. In addition, parties involved in the transaction can ensure timely delivery of products and services within a customer’s budget using e-signature approvals.
- Robust Analytics
Salesforce CPQ’s analytics unlocks new data scan capabilities that factor in several business factors like price segmentation. As a result, it leads to optimized product offerings that are all in perfect sync with your client’s business needs.
- Lower Operational Costs
Salesforce CPQ can dramatically improve your sales teams' efficiency and help reduce costs involved within. With a natively integrated platform like Salesforce with Salesforce CPQ, you can enhance the internal company communications and reduce the overall operational costs from the revenue generated.
- More Transparent Sales Process
Salesforce CPQ provides you better visibility about revenue reports, top customers, and, most notably, the best-selling products on your roster. Moreover, it provides your sales teams with a better insight into the areas of the sales process that need improvement. In short, Salesforce CPQ gives you a bird’s eye view of all the sales activities and lets you improve your strategies with the business intelligence collected.
When you implement Salesforce CPQ successfully, your company can leverage the capabilities to nurture customer relationships as it frees up the sales representatives. In addition, they won’t take much time adopting the new tool as they are already familiar with Salesforce CRM.
Instead, the time saved battling the manual processes can be used to close more deals, reach out to more potential customers, and deliver accurate proposals every time.
Once the team gains momentum, they can generate more quotes in a matter of minutes and not hours. In addition, it shortens the sales cycle, and the teams are able to configure offerings based on business rules and logic instead of guesswork.
Do you want to implement the Salesforce CPQ solution with your Salesforce CRM in a matter of weeks, starting today? Then let an experienced team of hardcore Salesforce development does it for you.
Growth Natives offers decades of collective Salesforce development experience with its team of specialists. Get in touch with us today for a quick Salesforce audit and let us help you get the most out of your business.
Email us at firstname.lastname@example.org or visit our website to know more about our services.
Do you know of any other ways in which Salesforce CPQ can help companies increase their sales? Feel free to share your views in the comments or drop your opinions on our social media channels.