Putting a price on products and services is one of the more challenging aspects of running a business. There’s so much to take into account, and there is pressure to balance competitive with revenue-generating pricing. It helps that Salesforce has a tool that deals with CPQ, but sales teams must learn how to use it to make the most of it.

What is Salesforce CPQ?

A quick review of what CPQ is: the initials stand for Configure, Price, and Quote. It is an extension of customer relationship management systems, such as Salesforce, which helps sales teams generate quotes easily for configurable products. It is a tool designed mainly to hasten proposals and automatically factor in other aspects such as discounts.

Sales best practices state that sales representatives should avoid talking about pricing until the end of a customer call. However, many will inevitably ask about prices at the beginning of the conversation (from a lead’s perspective, it‘s a waste of time talking to suppliers whose products and services they can’t afford anyway). Salespeople, therefore, need the ability to quote prices for products and services quickly and accurately.

CPQ gives that power to salespeople. Integrated into Salesforce CRM, CPQ can give sales reps accurate estimates of how low or high they can go in quoting variable products and services, and if they can afford to offer a discount. It’s a very useful tool, especially for companies that deliver project-based services. This explains the importance of Salesforce CPQ training and certification.

CPQ Training: Who Needs It?

Like any powerful software tool designed to change the game for users and their industries, Salesforce CPQ has a dedicated training program wherein salespeople can learn how to use the software and maximize its functions and benefits. Graduates of the course will become Certified CPQ Specialists, a certification that holds so much value for companies today.

There are no pre-requisites for the Salesforce CPQ training program (also known as “Trail”). Anyone is welcome to join and earn a credential for CPQ.

The Business Advantages of Mastering Salesforce CPQ

It’s easy to assume that companies will have a clear-cut database of all their products and pricing. Although this is typical in a convenience store, where every product has a fixed price, it’s a different story for contractors, consultants, service providers, and even manufacturers. Sales representatives may sometimes throw in a discount to secure a huge contract or offer a free service to a warm lead who is obviously price-shopping.

These are acceptable practices, but it can be tricky for salespeople to give accurate quotes if they must do it on the spot (i.e., a lead asks for a quote during a phone consultation). If salespeople have Salesforce CPQ software and have mastered its use, they can confidently give a discount or adjust quotes without worrying about shortchanging the company.

This alone leads to the following advantages:

• Reduce wasted time in sales – Salespeople can shorten (even eliminate) the waiting time between the first phone call and the follow-up call. They can give a quote right away if customers ask for it.
• Make the sales process leaner – CPQ can simplify the process of providing quotes and submitting project proposals to clients.
• Increase your bottom line – Giving quotes when a lead requests them can make or break a sale.
• Adjust prices quickly – Sometimes, companies are forced to re-evaluate their current price lists because of major economic and political events. If that time comes, you won’t scramble to sort out your price schedules.

Take Full Advantage of What CPQ Can Bring to Your Business

Register your sales team for a Salesforce CPQ certification course. Invest in their skills development, and your company will reap the benefits in the long run.

This article is just the tip of the iceberg. Salesforce CPQ can offer more benefits, given its compatibility with the CRM and other applications.

If you want to learn more about the program and training, get in touch with eVerge Group today.