To successfully sell to B2B customers, communication service providers (CSPs) need the sales team to be at the top of their game. That means being responsive to customers, producing accurate quotes faster, and maximizing sales opportunities while also meeting margin expectations. While every team has star performers, the trick is to make each person on your team an MVP seller who can see past short-term upsells or cross-sells and truly understand evolving customer needs.
Improving CPQ processes transforms your sales team in a number of ways:
1. Happier, more productive salespeople – Since they need less time to support the CPQ process, salespeople have more time to find business, generate more profitable deals, and earn more commission, keeping them motivated. Professionalism improves, making salespeople look more efficient in front of their customers. Less time spent on emails and spreadsheets not only means more time in front of customers, but also improves morale and reduces staff churn.
2. Happier customers – Delivering a more efficient CPQ process optimizes the first touchpoint in the B2B customer experience (enquiry-to-quote), starting the relationship with the customer on the right foot. Integrating CPQ with self-service websites lets CSPs meet B2B customers’ expectations for increased independence, as well as free up staff to provide more personalized support where needed.
3. Reduced errors – When everyone is working from the latest product and pricing data, bottlenecks are opened up and the number of errors reduced. This lowers the amount of rework required, as well as the impact of costly, or embarrassing, errors.
4. Eliminating extra work – By reducing the need to continually re-enter data into different systems, emails or spreadsheets, sales time is freed up, processes speed up, and operational costs are reduced.
5. Optimized sales opportunities – Automated CPQ processes guide sales teams through product configurations quickly and efficiently, with potential upsell and cross-sell recommendations highlighted. This ensures opportunities are not being missed by busy salespeople who may not be experts in the full breadth of increasingly complex and large product sets.
6. Reduced internal conflict – Pressure is removed from product and pricing staff because their knowledge is accurately captured in the system. Conflicting interests can be quickly analyzed and business decisions can be based on accurate data.
7. More effective sales managers – Giving better visibility and control to sales managers improves their performance, helps them instill disciplined pricing, and enhances their ability to monitor key performance metrics. Greater visibility of deals in-progress, and a more easily digestible format, means they can get access to the data they need to work effectively, while simultaneously reducing the administrative burden on their staff.
8. Improved corporate governance – Improved visibility of key data ensures compliance with relevant regulation or legislation (such as SOX). It also clearly displays profit margins from complex deals and anything risky. When senior executives see this data in near real-time, they deliver better business results.
To learn more about the role of CPQ in B2B revenue, download our whitepaper.