Customer loyalty is the key to increasing your bottom line. Retaining customers comes down to providing a satisfying, positive customer experience. As such, you want to make sure that all their interactions with you – from inquiry to purchase – go smoothly.
Some companies overlook one part of the entire sales process: pricing. It may seem a small amount of the whole, but a potential buyer can take one look at your price and decline immediately.
Luckily, there’s a software dedicated to improving your pricing and sales quote processes – cloud CPQ.
Configure Price Quote (CPQ) software is a sales tool that centralizes and automatically produces accurate sales quotes for customers. Built on the cloud, the CPQ simplifies the complex process of determining the price for complex contracts and service packages.
The Salesforce CPQ software and Oracle CPQ Cloud are among the most popular solutions that provide this capability.
A CPQ helps you make an excellent first impression on your prospects. Some B2B customers have to wait for days for a quote, which may decrease their satisfaction with a service before it even starts. With CPQ software, you can make quick but strategic pricing decisions while keeping up with customer expectations and timelines.
Plus, CPQ technology is highly accurate, even with contracts that involve pre-negotiated terms, discounts, and other adjustments. You don’t have to worry about human error since the quotes are generated automatically by the software – you only need to input the contract’s specifics. You’ll get an accurate quote within minutes.
You can also approve special pricing requests automatically with CPQ technology. You can set rules on what the software can and can’t be approved to prevent granting the wrong requests. This way, your sales team can approve or deny discounts and other negotiations quickly when trying to close a deal. The customer gets a quick answer, and you close a sale on the spot – win-win!
CPQ systems also have benefits for existing customers, not just your prospects. Some CPQ software, like Salesforce, has a dynamic pricing feature. Items are automatically sorted based on the sales trends of specific customers or segments. Your customers receive pricing offers for products or services that appeal to their unique tastes and preference.
These packages and pricing offers are effective because they’re based on customer insights, so they’re more likely to sell. Plus, customization is essential to the customer experience, helping you build trust among your existing customers. Making an effort to curate something according to their taste lets them know that you genuinely listen to their needs and wants.
You can integrate your CPQ with other cloud-based software, such as your CRM (customer relationship management) and ERP (enterprise resource planning) systems. This integration lets you pull necessary data from anywhere, making pricing, and quoting much faster.
eVerge Group has a team of specialists who are highly skilled in the latest cloud platforms. We deliver high-impact solutions that address your unique challenges and needs, driving business success. Our expertise in multiple platforms lets us build innovative digital experiences that boost your revenues.