The Power of CPQ: Making the most out of every commercial interaction

The Power of CPQ: Making the most out of every commercial interaction

To make the most out of every commercial interaction, more than anything else, you need the power of Salesforce CPQ.

It’s for two very special Salesforce CPQ Features. First, it records users’ activity from start to finish; second, it integrates recorded customer information with other Salesforce service clouds for every service rep to access it seamlessly.

The CPQ platform indexes customer information, arranges it coherently industry-wise, and curates it on basis of revenue, location, and even contact files.

Salesforce CPQ Solutions also documents interactions customers have with your sales reps.

So every time they show up, all necessary details from previous interactions will emerge for your sales rep to sell smart and personalized service.

Integrating Salesforce CPQ Billing with the Salesforce Commerce Cloud offers a range of insights.

It also brings automation to your selling and marketing processes. This helps turn commercial interactions into leads, or even sales.

Going by the Forbes report, globally the manufacturing industry will rake up, by the end of 2020, up to $685 billion in value-added revenue simply by deploying connected devices.

And Salesforce and its various service clouds by far offer the best integrated and connected experience to businesses, no matter their industry!

Here’s how deploying CPQ helps make the most of consumer interactions.

a) CPQ Offers Improved Product Views

How products are viewed by consumers as they interact with your business determines whether or not they buy.

Salesforce B2B eCommerce coupled with CPQ delivers much better product information.

CPQ offers sales reps a complete picture of customers’ product interests. Building on that, sales reps can target consumers with personalized marketing messages likely to convert.

b) CPQ Offers a Complete Picture of Commercial Interactions

CPQ dives deeper into commercial interactions to unravel underlying factors determining consumer behavior.

It furnishes complete information on why they buy and what they buy in correspondence with product selections previously bought.

For B2B eCommerce Salesforce, that’s the additional power that comes through CPQ. And it bridges the gap between buyer and seller.

At the same time, it allows businesses to offer more exciting options and product combinations to buyers.

c) Sales History from CPQ Is More Detailed and Comprehensive

A business can extract profits from any commercial interaction provided they have a customer’s sales history at the front. And there’s no tool better than CPQ to provide you with a detailed customer history.

All your positives and negatives, what worked and what backfired in earlier interactions, empower you to overcome your shortcomings beforehand.

Therefore, when you enter the next sales cycle, fully equipped with deeper insights, you’ll be better positioned to close much larger sales, much faster.

d) CPQ Provides Enhanced Pricing and Discounting Utilizing AI

Another remarkable Salesforce CPQ functionality, which propels the growth of B2B eCommerce, is the function of pricing.

According to the IBM report, a staggering 73 percent of deals or sales are lost due to erroneous pricing. That shows how important smart pricing is!

Automatically going through a customer’s purchase history, Salesforce CPQ, powered by artificial intelligence,  accurately determines whether or not to offer a discount or how much discount to offer to a particular customer.

Moreover, with data provided by CPQ,  special promotions are run to capture and cash in on previously inconspicuous opportunities.

Product configurations that aren’t selling can be discarded or revamped to push forth newer and more attractive product combinations.

e) CPQ Offers Insights on Customer ‘Perceptions’ When Buying from You

Commercial interactions in business-to-business commerce are much more complex than you can anticipate.

And neither B2B Commerce Cloudcraze nor B2B eCommerce Stats suffice to make you understand the customers’ tendency when buying from you, or what’s driving their buying decision.

Salesforce CPQ provides businesses detailed information, even to such deeper levels where you’re given a peek into perceptions that drive customers’ sales decisions.

Therefore, revamping your campaign just in time may save you many more deals by taking into account customer perceptions.

Sales reps with the deployment of CPQ feel relieved from recurring manual tasks, and administrative load. Buyers, on the other hand, get well-constructed, personalized proposals that boost sales.

3 Ways to Get CPQ Right

1) Consider CPQ not an add-on, but disruptive technology.

Salesforce CPQ is not an add-on or plug-in to utilize in your business-to-business commerce. Its real potential lies in its disruptiveness, or the way it brings products to the marketplace.

Deploy it to sell better, catch hold of new opportunities, and effectively market your business using various digital channels.

2) Deploy CPQ to go beyond sales.

Deploy Salesforce CPQ not only to streamline sales process alone but also to:

  • Implement Marketing – to create, launch, and implement marketing strategies and plans.
  • Offer Customer Support – to offer customers personalized support and solutions.

3) Leverage CPQ to integrate sales channels.

Go beyond individual sales channels to offer a unified buying experience to customers by integrating various sales channels through CPQ.

Salesforce CPQ powers businesses by providing a unified data viewing experience. By integrating data across sales channels, CPQ boosts customer retention, and propels brand loyalty.

Final words on CPQ

The job of sales reps has always been that of multi-tasking. From leveraging their persuasive skills to entice customers into buying a product or service to making efforts to close the deal on high, they do it all.

However, despite such herculean efforts, their sales quotes, always fraught with mistakes and errors, make worse of sincere efforts and yield no results.

You can empower sales reps by deploying CPQ, which generates accurate, error-free sales quotes a lot faster.

Business to business sales are more complicated and the order is in bulk. So much so that, to manually generate error-free quotes on such a scale is just impossible.

CPQ, on the other hand, automates the pricing process and solves the above problem once for all.

It can easily handle a large amount of customer data, cater to the needs of plenty of customers, and provide each customer a personalized quote, which is a remarkable achievement of Salesforce and the digital solutions it offers.