CPQ

Sell More- Sell Faster with Salesforce

Date published • 18th October 2018

Every day you hear the same request from senior managers in both sales and marketing environments. “Drive more pipeline. Create more opportunities. Sell more. Deliver more revenue”.

More. More. More!

Do more with less

However, when you ask, “Can I have more budget, more resource, or more time”?

The reply is invariably, “No”.

So how do you generate more with less?

 The marketing team might embark on guerilla marketing activities, or more creative ways to target their potential customers, and sales leaders might hire more seasoned sales people. But the reality is that these small changes, will only deliver small incremental results.

In the B2B world and in particular sales environments, delivering more with less is not the same concept as minimalism, where less means more. The answer is much deeper in the automation of processes, so you really can deliver more, with less. Put simply, the answer lies in leveraging technology and harnessing artificial intelligence to make better informed and faster decisions.

But how do you know which technology will fit your business and which technology will drive sales and deliver the results you want?

Before I get in to the detail, let’s take a step back and have a macro view of the ideal world. You’ll need a marketing automation tool to drive leads in to the top of the funnel, then you’ll need a CRM tool to manage all the leads and push them down in to the middle of the funnel. In order to manage the middle of the funnel, the CRM will also need to be an “opportunity management” tool, so once prospects become customers, the CRM will also inform the marketing automation tool to send relevant communications, messages, updates and offers.

Also, wouldn’t it be great if the CRM fed data directly to the Quoting tool, so your sales teams could generate quotes from the Opportunity. While I think about it; it would be good for you to have the Quote become a Contract, ready for the customers signature, and the icing on the cake would be to have an Invoice generated from the data that feeds the Contract.

That’s it. If I were in your shoes, that’s what I would request from my senior management team. 

While senior management sit there with blank expressions and scratch their heads, quickly add that you’ve already done the homework and all of the above can be achieved by leveraging a single technology platform – Salesforce.

So not only are you doing more, with less, but you are in fact doing it more efficiently while delivering seamless data around the business for all senior managers to track, review, authorize, and report on. Creatively turning your vision in to a positive message for senior management to have the capability to pull sales reports and deliver performance dashboards across all sales teams.

Now, let’s get into some detail so you’ve got all the information at your fingertips to respond to any challenging questions.

You’ll be leveraging Salesforce as your technology platform and will require a number of Apps to manage the “Lead to Cash” automation process. Rather like buying an iPhone, or an iPad and then downloading various Apps to make the device work how you want it.

 I am going to help you focus on Sales and discuss the advantages of CPQ (Configure, Price, Quote) or Quote to Cash; but if you want to know more about feeding the top of the funnel with “leads”, then have a look at Pardot, as your marketing automation tool.

As we all know, sales people just want to close deals and move on to the next opportunity, so they can make as much commission as possible. However, many sales people have bad habits and often go rogue on discounts, procedures and approvals. 

This is where CPQ can be used to ensure that every opportunity is maximized by introducing add-on products to upsell. In addition to managing the product catalogue, CPQ can also enforce discount rules, to ensure that every opportunity has the maximum profit contained in the revenue being generated.

If your sales team could see how their personal commission was being impacted due to their discounting habits, I am sure they would very quickly realize how much income they were missing-out on, as well as how much profit was being wiped-off each deal.

The key thing to remember about Salesforce CPQ, is that all the data you need to create quotes and generate the contracts to send to your customers is already in the CRM. So your sales team don’t need to calculate their own discounts in Excel, or worry about re-typing long documents.

In one single move, you will streamline processes, give all departments visibility of deals, reduce errors and drive profitability. If your CFO is listening-in, then just mention how you’ll minimize revenue leakage, and help solve the issues around the new IFRS15 revenue recognition legislation.

This isn’t about delivering more with less, this is strapping a turbo charger to your business …Salesforce CPQ is your “rocket to revenue”!

If you want to sell more with less;

Join Gin Matharu, Quote to Cash specialist at Sapient.i7 for a 30minute overview and demo of the Salesforce Quote to Cash product, on October 25th at 10.00am BST. Register below:

Gin 2018-05-30 at 09.03.26

Words by:

Gin Matharu, CPQ Practice Lead

If you would like to know more about what we do, we’re happy to answer any questions you may have for us.

Share this article:

View more from the blog and events