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3 Sales Challenges Vanquished by CPQ

  1. Issue 1 ©2015COLONYLOGIC I need your help Milo! ADVENTURES OF MILOPRESENTED BY These sales challenges are killing my revenue!
  2. 01 WHAT IS CPQ? WHAT’S CPQ? CPQ stands for ‘Configure-Price-Quote’ and it refers to the processes involved with building orders, quotes and proposals for prospects. CPQ software automates the configure-price-quote process, allowing reps to create accurate quotes from any device in a fraction of the time it would manually. Depending on your role, your relationship with CPQ can vary. But whether you’re a rep, operations manager, director or executive, this affects you because revenue affects you. Simply put, sales teams armed with CPQ applications close on 30% more deals, and with increased quote volume from automation, next-level CPQ solutions can increase deal revenue by 42%. With that type of increase, commission checks double, quota worries become a thing of the past, and companies put competitors in the rearview mirror. If you’re motivated by numbers and the fear of losing them, read these three sales challenges that are vanquished by CPQ. I help sales teams streamline their sales process, giving them more time to close more deals! Hi, I’m Milo! We are glad you asked.
  3. We need to maximize sales orders before this quarter ends! Building quotes, sending propsoals, revising orders. I hardly have any time with my prospects! Well, how do you spend most of your time? Let me show you how a next-level CPQ can help you close 30% more deals! CP-What? Hmmm... CPQ software will give you more time to spend working prospects! I’ve been asked to help out at the Honey Bear factory by their owner, Mr. Grizz.
  4. Sales Challenge No. 1 The Prospect Has a Change of Heart Before You Can Close. 02 CHANGE OF HEART A CHANGE OF HEART You’ve worked your magic, and despite some initial apprehension, got your prospect to relent and agree to terms verbally. You’re already thinking about how you’re going to spend that hefty commission check as you’re sending the finished proposal a couple days later, until you receive a message that can only be summed up as follows: they changed their mind and went with a competitor. What happened? Two days happened between getting a verbal ‘yes’ and sending a completed proposal. In those two days, you left all your hard-fought persuasion up to chance, as your prospect began to second-guess and competitors had time to swoop in with counter-offers. With a next-level CPQ, sales reps can build quotes right in front of prospects, then close deals with e-signature or instantly send a tailored proposal right on the spot. With zero delays in the sales process, your salespeople never have to disengage with the customer, delivering the seamless sales experience modern customers have come to expect. Lets see how the Grizz is doing – hopefully he’s not losing prospects due to delays ...
  5. NO! You’re too late! . . . if only the Grizz had a faster & easier way to get his proposals built and approved! but I just got this proposal approved . . . As a buyer I can’t afford to wait for a proposal to be revised and approved. I need products now.
  6. The Daunting Catalog 03 THE DAUNTING CATALOG Sales Challenge No. 2 Who can remember thousands of product SKUs? THE DAUNTING CATALOG When faced with a complex catalog, sales reps are faced with two choices: give up on their social lives to focus on learning the entire catalog intimately, or concentrate on selling a limited selection of products. Given the time and training constraints, most reps have little choice but to restrict their efforts towards selling what they know. Attempting to sell an incomplete catalog is like trying to tie your shoes with one hand—it severely limits the type of prospects you target, and worse yet, puts a serious dent in close rates. If reps aren’t making the right pitch to each prospect, their numbers will reflect it. With a CPQ outfitted with guided selling, reps can always make the right offer of products and services, no matter their knowledge of the catalog or prospect. Easily navigating through an interactive catalog with product descriptions and filters, reps are recommended products and packages based on customer details or manager settings. The Grizz dislikes his current system of paper catalogs. They’re Costly, difififfififififfiifificult to manage and train, and come off as dated.
  7. Why don’t you just tell me what you want? I’m sure we can make it somehow ... These products aren’t relevant to me – Didn’t you research my business?! ...If only the Grizz had guided selling! I think this is the right product?!
  8. 04 COMPETITOR BEATDOWN Sales Challenge No. 3 Don’t you hate competitors? COMPETITORS We’ve all been there. You’ve invested a big chunk of time into a promising prospect, only to hear that they’ve chosen a competitor because their offering was fresher or they undercut you on pricing. It stings. But it’s not your fault. No company can guarantee market dominance. You can, however, turn the above situation into a passing rarity by gaining an edge over the market with a next-level CPQ. For most organizations, the process of rolling out new products, offerings or prices can take months, as materials, forms and operations all need systematic updating. With the latest CPQ offerings, the same objectives can be handled in hours through easy catalog entry that reflects changes for sales reps in real-time. With a best-of-breed CPQ, sales managers can implement new product and pricing changes as soon as the market calls for them, giving reps confidence that their pitch will always be competitive. And if a rival tries to undercut them on pricing, they can instantly apply pre-approved discounts to their quote to help seal the deal. Imagine how much more the Grizz could sell if he wasn’t always being undercut by his stiff competition.
  9. I reckon if the Grizz’s prices and products were more flflflffllexible, he could win more business against his bitter rivals ... But this sale is mine! We had a verbal agreement! You drive a hard sell, Grizz, but I wasn’t born yesterday ... If there’s anybody out there willing to beat the Grizz’s price, you’ll have my business! . . . Verbal agreements are for suckers, Grizz. I’ll sell for 10% less! NOT SO FAST!!
  10. 05 SWARM CPQ Colony Logic’s A streamlined CPQ application. The days of entering orders by hand are over. Build sales orders and send proposals from any device, anywhere. Swarm is transforming configure-price-quote software by making it ... easy. With an award-winning user experience, out-of-the-box implementation and streamlined admin, Swarm breaks new ground by making CPQ uncomplicated and affordable. WHAT’S THIS?! The Grizz appears to be closing the deal?!
  11. HONEY Sampler Deluxe With SWARM CPQ, the Grizz is vanquishing all those pesky sales challenges to win more deals and make more money! It was easy! With live quoting, I was able to apply a pre-approved discount of 15%, winning the deal thanks to... SWARM CPQ! With the Grizzs’ new application, he quickly quoted me the best price around, then instantly sent me a tailored proposal, giving me the instant gratification I deserve! the Grizz closed the deal with the help of