Silent Auction Secrets: 5 simple changes to generate bigger bids
Generate Bigger Deals with Guided Selling
-
date post
17-Oct-2014 -
Category
Technology
-
view
863 -
download
1
description
Transcript of Generate Bigger Deals with Guided Selling
Lead to Money:
Generate Bigger Deals with Guided Selling
July 31, 2013
Lead 2 Money
Today’s Agenda
• Overview of Sales Performance Industry Trends
• Need to Drive Sales Efficiency AND Effectiveness
• Driving Sales Behavior with Guided Selling and CPQ
#CPQ
Today’s Experts
Doug Erb | Partner & Co-Founder, Canidium
• Guides Canidium’s vision to transform its customers sales operations into highly
efficient and analysis based sales organizations.
• Responsible for taking Canidium from start-up to a multimillion dollar organization,
while serving in a wide range of executive management roles including strategic
business development, sales, finance and operations.
Chris Lesar | VP CPQ Sales, CallidusCloud • 20+ years in Sales/Marketing.
• Vast experience in deploying sales productivity tools globally in North America, EMEA, Asia Pacific.
• True pioneer in sales and product configuration.
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Canidium at a Glance
Founded by industry veterans with 15+ years experience
Based in Houston, TX with 50+ expert consultants across North & Central America Partner with companies on a broad array of high value, ROI driving initiatives across the SPM lifecycle
Experience with all leading ICM / SPM solutions
Industry experience includes: Insurance, Financial Services, Banking, Retail, Telco, Healthcare, Pharmaceuticals
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Solution Strategy • Comp Plan Effectiveness
• Requirements Gathering
• Criteria Development
• Vendor Research
• Vendor Comparison
• RFP Development
• RFP Analysis
• Scorecard Development
• Negotiation Assistance
• Implementation Approach
Implementation & Upgrade • Requirements Confirmation
• Business Process Optimization
• Financial Plan Modeling
• Comp Plan Design & Development
• Technical / Architectural Design
• 3rd Party Solution Installation, Configuration, and Customization
• 3rd Party Solution Deployment/Upgrades
• End-to-end Solution Testing
• End User Training
Managed Services
• Comp Plan Design
• Comp Plan Refinement
• Performance Tuning
• Report Development
• Upgrade Analysis and Assessment
• Error Detection, Root Cause Analysis, and Correction
• Ongoing Education
• Enhancements
• Roadmap Setting / Revision
End-to-End SPM Services
Canidium Overview
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Configure, Price, Quote – CPQ
Introduction to CPQ
Foundation
Traditional ROI
Trends
Lead to Money (Sales Velocity)
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Configure, Price, Quote – CPQ
Cloud-based application to increase deal size, reduce error by automating the process
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
What could go wrong?
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
CPQ’s Foundation
Faster sales cycles
Accuracy of Data, reducing errors in proposals and quotes
Margin protection and rep understanding
Control over discounting
Reduction in pricing and bundling rollout
Quote error reduction
Greater collaboration
Less time on proposal generation and alteration
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Traditional ROI
How many quotes and proposals do your sales team generate in a week?
How much time do your sales people spend chasing proposal details? (Pricing, contract terms, etc.)
What is your hourly sales person cost?
ROI =
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Trends
Stronger integration and data coupling with CRM applications
Mobile device support
Greater analytics
Cloud-based options
Originally used mainly by manufacturing companies, but move to other industries being led by High Tech and Telecom
Gamification
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Mobile Graphic
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Poll
Have you made a
purchase where you
swiped your credit card on
a mobile application?
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Adaptation maze
Emerging : Telecom
High Tech
Manufacturing
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Gamification
Gamification techniques strive to leverage people's natural desires for competition, achievement, status, self-expression, altruism, and closure.
A core gamification strategy is rewards for players who accomplish desired tasks. Types of rewards include points, achievement badges or levels, the filling of a progress bar, and providing the user with virtual currency.
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Automate the Upsell
Guiding the sales process
Pipeline Management
Creating optimal deals
Bundling
Up and cross selling
Control discounting
Understanding commission impact (for reps)
Lead to money process (Sales Velocity)
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Automate the Upsell
“As top-performing selling teams continue searching for ways to reduce their sales cycles and increase their win/loss “batting average,” the use of contemporary technology tools holds significant promise for better sales team performance in 2012,” explained the Aberdeen Group in its 2012 Analyst insight paper – Lead-To-Win 2012: Managing People, Process and Technology to Optimize the Last Mile of the Sales Cycle.
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Pipeline Management
Bad data in SFDC or your CRM
CPQ Manages data
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Lead to Money
Sales Velocity is the time it takes for a lead to become a closed deal – There are four levers to Sales Velocity
Increase number of opportunities
Increase average deal value
Increase win rate
Reduce sales cycle
– Most people tend to focus on filling the pipeline by increasing the number of opportunities
Management tends to reinforce this by asking questions like “How many calls did you make? Or “How much did you add to your pipeline last month?”
# Deals * Average $* Win Rate% Length of Sales Cycle
#CPQ
© Canidium LLC 2013 © Canidium LLC 2013
Lead to Money – CPQ Style
By automating the workflow of the sales process you increase the sales reps ability to increase deal size
Traditional ROI in CPQ found in the reduction in errors and shortening of sales cycle
# Deals * Average $* Win Rate% Length of Sales Cycle
#CPQ
Guiding Sales Behavior with CPQ
• Upsells and Guided Selling
• Commissions Display Affects Behavior
• Embedded Learning
• Electronic Delivery and Acceptance
• Approval Probabilities Reduce Noise
• Budget-based Deal-making
• Margin Health
• Collaboration Across the Enterprise
• Gamification
#CPQ
Upsells and Guided Selling
#CPQ
Upsells and Guided Selling
#CPQ
Commissions Display Affects Behavior
#CPQ
Embedded Learning
#CPQ
Upsells and Guided Selling
#CPQ
Upsells and Guided Selling
#CPQ
Upsells and Guided Selling
#CPQ
Electronic Delivery and Acceptance
#CPQ
Electronic Delivery and Acceptance
#CPQ
Electronic Delivery and Acceptance
#CPQ
Electronic Delivery and Acceptance
#CPQ
Approval Probabilities Reduce Noise
#CPQ
Budget-Based Deal Making
#CPQ
Margin Health
#CPQ
Collaboration Across the Enterprise
#CPQ
Collaboration Across the Enterprise
#CPQ
Collaboration Across the Enterprise
#CPQ
Collaboration Across the Enterprise
#CPQ
Gamification
Competition, Recognition, Mastery
#CPQ
Gamification
Competition, Recognition, Mastery
#CPQ
Gamification
Competition, Recognition, Mastery
#CPQ
What’s In It For You?
Companies Using CPQ Experience:
• 38% Increase in Average Order Size
• 36% Increase in Lead Conversion Rate
• Reduced Quoting Time:
• On average from 6 Mth. to 30 Min.
• 9% Increase in Win Rate
• 4-Fold Increase in Support Attach Rate
• An improved market perception
Q&A
#CPQ
Get Started!
Interested in Implementing CPQ? Try a Free Trial of CallidusCloud CPQ:
Additional Questions?
Contact us at 1-866-812-5244 or email us at [email protected]
Chris Lesar VP CPQ Sales
CallidusCloud
Email: [email protected]
Doug Erb
Principal Partner
Canidium
Email: [email protected]
Twitter: @erbdoug
#CPQ