Have you ever managed a sales team? If so, then you know the #1 way to stir them to action is to tweak the commission structure in the right direction, letting them know that they can get even more money and not have to do much differently to get it.
Quote management software delivers the exact same benefit without forcing you to tweak your commission structure in the slightest. Because a proposal automation tool means each rep can configure, send, and track more proposals in the same amount of time. And more proposals in circulation means more proposals that will close. And that means more money in each rep’s pocket.
B2B selling with CPQ: a win-win-win-win
Your reps are always looking for a win-win, because that means 1) they have a happy customer, and 2) they made money landing that happy customer.
So what’s the third win? The third win is for your other reps, because quote management software includes tools—like templates, cloud catalog for products and pricing, customer contact lists—to @@make successful sales processes into repeatable sales processes.@@ And a winning, repeatable process is one every rep benefits from.
What’s the fourth win? It’s for your overall business, and this has two sub-wins:
- A proposal management solution (standalone, or as CPQ integrated with CRM) enables you to send cleaner, more consistent proposals that build your brand in the eyes of prospects and customers alike.
- The quote tracking tools built into a reliable CPQ solution deliver immediate and comprehensive insight into your sales process: you can see where quotes are closing quickly, and where they might be getting hung-up.
More in the pipeline means more in the pocket
We confess: this article’s headline is a bit misleading. Using quote management software doesn’t mean BIGGER commissions, but it can mean MORE commissions.
On the one hand, it’s just simple math: more quotes in the pipeline = more shots at commissions—it’s all about quantity. But on the other hand, it’s all about quality, too.
A CPQ solution can serve as de facto quality control, and not just because it means you only send clean, on-brand quotes to prospects. But because it allows central control of pricing and product configuration, you can also ensure every rep is putting the best possible offer in front of customers.
It enables you to learn which products, prices, upsells, and cross-sells are winning you the most business, and then immediately @@ensure every rep is using the same product configurations in similar situations.@@
Because while a properly constructed quote that reflects your brand can be a key business driver, a properly configured and priced product can do even more. And that means a win-win-win-win-win-win-ad infinitum.
If you'd like to learn more about this topic or see IQX for yourself with a free demo, contact us.