We can work it out: selling exercise equipment using CPQ tools

The fitness industry is BOOMING.

And it’s not just about how people are getting fit (cross training, yoga, spin classes, pilates, etc.), or about why (too many reasons to count): it’s about where.

Yes, they’re getting fit in gyms and rec centers, but also in exercise rooms at work, in hotels, schools, and just about anywhere you can fit an elliptical and a set of free weights.

As more commercial exercise companies rush into the space to sell the latest equipment, it becomes more important to be consistently using CPQ tools to sell in this explosive vertical. Because if you know anything at all about fitness and the people who work in the industry, you know it’s about being in top shape across the board — especially in how you sell.

@@Explore two ways CPQ tools support successful commercial fitness equipment vendors.@@

Vertical market: commercial exercise equipment

Preconfigured upsells: 

a CPQ tools staple

Every industry hopes to have an upsell as effective as, “fries with that?”

In fitness, the upsell opportunities are virtually limitless because every muscle group and body system (cardiovascular, respiratory, etc.) requires different kinds of training and equipment. No commercial exercise business buys one dumbbell — they buy multiple sets, and treadmills, and ellipticals, and yoga mats, etc.

One of the best tools in a CPQ solution to address these needs (and drive more revenue!) is a centralized, cloud-based product and pricing catalog. Because if customer A said “yes” to your “fries with that?” type of upsell in which you added, say, StairMaster to a treadmill order, then customer B probably will, too.

You’ll want to store and share your upsells across the organization, and in real-time, letting salespeople know what upsells work every time they access the catalog to build a quote.

Vertical market: commercial exercise equipment

Sales tracking and reporting: for the win

Every runner keeps track of his or her time for the mile/half-marathon/etc. and tries to beat it. Every weight lifter keeps track of reps and adds more over time. Keeping track of your activities is ingrained in the fitness industry, and should be ingrained into anyone selling into it, too.

The best CPQ tools on the market have analytics tools built in. And while these tools can help an individual rep track the progress of his or her sales — and, like a runner trying to improve their pace on a mile, try to make each sales cycle shorter than the last one — they’re even more impactful at the administrative level.

Compare a sales manager to, say, a baseball manager: when a baseball manager sees his team falling behind, he IDs the weak links and makes changes: put in a pinch hitter, bring in the relief pitcher, etc. In his case, his “analytics” are his eyes and the scoreboard.

When a sales manager sees sales slipping, he can — with a CPQ solution running — see where the weak links are, too, and help struggling salesperson X get stalled proposals moving, or move rockstar salesperson Y from inside sales to regional, all by looking at the numbers in the CPQ system.

Commercial exercise equipment is a competitive space because it attracts competitive people. But the people using CPQ tools will always have a leg up on the competition.

If you'd like to learn more about this topic or see IQX for yourself with a free demo, contact us.