Guided Selling: Product Configuration Is the Key to Compatibility

Guided Selling: Product Configuration Is the Key to Compatibility

By Dan Goldberg
CallidusCloud

Product Configuration Is the Key to CompatibilityWhen I check out at the supermarket, the checker always asks the same question: “Find everything OK?”

Imagine if the checker looked at my items and said, “You have tomato sauce, pizza crust, mushrooms and pepperoni. Are you sure you don’t need some mozzarella?” She improved my customer satisfaction by saving me a trip for a forgotten item, and she’s generated more revenue for the store.

This is a simple example of guided selling. Apply this scenario to a company that has more complex products, bundles, solutions and promotions and all of a sudden this becomes extremely difficult. It requires multiple teams and can add days to the process of generating a quote.

Guided selling is a key component of a Configure Price Quote solution. Linked by rules to your product catalog and price book, reps can arrive at the right solution in real time and can then translate that into a proposal sitting in the customer’s inbox before they’re even finished with the meeting. Best in class companies are already reaping the benefits:

  • Minimized Selection Errors:  35% of CIOs say their top priority is offering the right product to their clients[1].

  • Faster Selling Cycles: Top sales organizations close deals with 33.7% fewer calls. With only 39% of reps’ time available for selling, shorter time counts[2].

  • Larger Deal Sizes: CPQ users typically close deals 25% larger than companies that don’t use a CPQ tool by including an optimized list of up-sell products, cross-sell products, and consulting services[3].

An effective product configuration process is just one more way to enable sales and provide them with the key tools they need to be successful.

Learn more about processes and tools for a successful CPQ program on our website.

[1] CSO Insights, Sales Performance Optimization: 2013 Sales Execution Analysis, 2013
[2] Gartner Research, Don’t Let Tactical ICM Wins Hinder a Strategic Approach to Sales Performance Management, 2012
[3] Peter Ostrow, CallidusCloud C3 Keynote, 2012