How do I use CPQ in Salesforce?
CPQ in Salesforce is any Configure Price Quote Software sales tool that lets salespeople make quotes with customized products and price settings based on the buyer’s wants. These interactions are then synced with the documents for a deal in the Salesforce CRM.
In Salesforce, CPQ gives sales reps the data they need to simultaneously work on various campaign goals for different products and channels.
The people who make decisions can also keep track of progress so that changes can be made as new facts come to light. Any changes needed to make more money in the current market can include discounts, product categories, and marketing strategies within a category.
Similar Terms:
- Salesforce CPQ Set up price quote tools for Salesforce
CPQ in the Salesforce AppExchange
Why using a CPQ tool in Salesforce is a good idea
CPQ helps people at all company levels, from sales reps to chief revenue officers and managers of sales operations.
These are the main reasons why you should use a CPQ tool in Salesforce:
1. CPQ Gives Correct Quotes
CPQ in Salesforce simplifies setting up products, pricing them, and making quotes. People in sales don’t have to use price books and lists of products to make exact quotes; everything they need is built into the tool. Deals are protected by discounts and approval rules built into the CPQ software. This means that thieves can no longer take advantage of discounts.
Guided selling playbooks in next-generation CPQ systems make it possible to get accurate quotes. With this cutting-edge technology, sales reps can choose a product using several drop-down menus.
Backend systems can do many things, like choosing a product, making documentation, setting price and discounting rules, and ensuring the product is correct by asking simple questions about opportunities from a drop-down menu.
As a result, price quotes that are 100% correct and match current sales strategies are made automatically.
2. CPQ makes things run more smoothly
CPQ speeds up the delivery of quotes. Sales teams can focus on customers when they spend less time on administrative chores and quoting and more time making sales more efficient.
By automating searches in the product catalog, price decisions, and discounting rules, CPQ in Salesforce eliminates all the waste in the quote process. It also makes doing the tasks needed to close a deal more accessible, like making documents, customizing them, and filling out order forms.
This means that sales reps don’t have to look through product catalogs and email chains or make their proposal documents. They don’t have to do any paperwork, so they can spend their time selling things instead. Streamlining the sales process also shortens the time it takes to make a sale and helps salespeople close deals more quickly.
This is important because studies have shown that quickly answering sales questions is one of the most essential things for closing a deal. About half of the time, the first salesperson to reply to a prospect turns that into a closed or won deal.
Sales Performance Data for CPQ and Non-CPQ
3. CPQ helps buyers trust you
When salespeople use a CPQ in Salesforce, they can quickly access information about buyers as they work through the sales process, from chance to close.
Deals stay on track, and there are no delays in the contract approval process when the right product and price are offered. This way, buyers never feel like a salesperson isn’t responding to their needs.
Buyers like building product configurations and getting sales prices based on their specific needs.
4. CPQ makes the most of the benefits of current customers and prospects
It is easier to sell to people who are already interested and have bought from you than to find new ones. The same playbooks that ensure prices are correct also tell sales reps about up-selling and cross-selling possibilities that align with thinking about margins. Sales reps can ensure they take advantage of all the changes each client and customer in their sales pipeline gives them.
5. CPQ Brings in More Money
When you use a CPQ tool in Salesforce, you can get correct quotes, work faster, see the whole buying process, and build trust with buyers. Putting all these things together leads to bigger deals and more money.
With CPQ, you can eliminate the need for manual data entry, make more exact prices and quotes, and give buyers a better experience while up-selling and cross-selling to them.
Problems with Salesforce CPQ
Steelbrick was founded in 2010 and was bought by Salesforce in 2015. It was then renamed Salesforce CPQ. As expected, it takes on many of the choices about product architecture that come with older CPQ systems.
Over the past few years, the CPQ market has grown amazingly. Deployments that used to take 9–15 months can now be completed in just a few weeks thanks to new, cutting-edge software like DealHub CPQ.
Alternative to Salesforce CPQ
While looking at CPQ options, you should also look at alternatives to Salesforce CPQ. If you buy the right CPQ, it will make your Salesforce purchase more valuable. It should make your CRM more straightforward to use and let your sales team make quotes quickly and without any mistakes. Please find out how to make it easier to handle quotes and set up products in Salesforce.
