It’s rare to find any instance of Microsoft Dynamics 365 Sales (easily their most popular CRM for B2B salespeople) that’s exactly like another.
In B2B sales technology, the name of the game is customization, and every platform invariably will have its own bells and whistles added after the fact, or additional nuts and bolts added during implementation.
Which brings us to adding CPQ to Dynamics. For the uninitiated, CPQ (configure, price, quote) software enables near-total automation of the sales proposal process, a process that typically goes as follows:
Lead generation (trade shows, web promos, ads, door-knocking, you-name-it): essentially done outside D365 Sales, but tracked therein.
Lead conversion: from possible lead to active prospect (either after direct contact and conversation with a lead, or via them taking an action). A definitive moment in the funnel in Dynamics Sales (and in the customer relationship), when you may convert someone from a Lead to a Contact with an Account.
Opportunity: when you’ve moved a lead from being generally interested to being specifically interested and have discussion price points, deliverables, schedules, etc. Now we’re talking!
The sales proposal: practically a contract, with all that was discussed now in writing and awaiting signature. Sort of tracked in Dynamics, but not entirely (read below).
Delivery and execution: they’re a customer now — give ‘em what they want.
Retention: kind of like the lead generation stage, but with friends (customers) instead of strangers (leads).
CPQ belongs entirely to the sales proposal stage, helping you improve and manage it, and drive more business. Would anyone in their right mind consider that stage in the sales process one that would be addressed by a technology platform’s “bells & whistles?”
In fact, if a business could eliminate all the stages above save one, that “one” would be the signing of the sales proposal. (Imagine a world where we didn’t have to market, prospect, do webinars, send follow-up emails, etc., and people simply signed sales proposals on their own: magical!)
CPQ for Dynamics 365 Sales is nuts and bolts, and should be added to every instance.
Not only does it help speed the process, but it can further your brand via custom, professional sales proposal templates that stand apart from the crowd.
CPQ can optimize revenue by presenting product and pricing configurations that are proven to drive sales.
And with CPQ as a single sign-on integration to Dynamics, a business can even improve D365 adoption and everyday use, as reps will access their quotes (which they do daily) via CRM.
Finally, CPQ enables more robust tracking at the most critical juncture of any sales relationship: the day they put it in writing and sign your quote.
While Dynamics does a fantastic job of tracking leads-into-prospects-into-opportunities, it kind of drops the ball when tracking sales quotes, delivering very little data beyond whether a quote was sent or signed. CPQ gets granular, tracking every step and iteration in that process, enabling you to spot bottlenecks and create repeatable processes that drive sales.
So if you’re thinking of CPQ as just another app, an extension, a bell and/or whistle for Dynamics, it’s time to think again.
