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B2B manufacturers are learning the importance of personalized online experiences to compete in our digital economy. For example, being able to empower the customer to receive quotes and make a purchasing decision without vendor assistance is in high demand from B2B shoppers. One of the worst statements a company can hear is, “you’re not easy to do business with.''
When working with a global transportation manufacturer, the enterprise was scrambling to invest in solutions to accelerate the buying process for their customers. They were losing market share and channel partners to competitors who had already invested in digital B2B sales. After performing a 12-month analysis of their buying process the general consensus was buying from the supplier was difficult and that difficulty started with quoting.
Quote requests are the first step in the customer’s buying journey and with the changing landscape of the experience economy that first interaction has to be simple.
Think about your buying processes in the B2C world like for furniture for example. You have the ability to design the product to your preferred style/needs and generate a cost with the option to purchase, nearly in real-time. The tools retailers have invested in enable the buyer to have a seamless experience in their journey which builds confidence in the company. This also enables a purchasing decision.
Manufacturers need to invest in automated solutions for their customers to deliver downstream efficiencies to benefit sales and marketing. The truth is that e-commerce and sales automation tools like CRM are not always the right tool for your complex sales process. E-commerce can digitize your transactional, commodity sales and CRM can help track purchases and customer history. But for manufacturers of complex, engineered solutions there is a gap in customer-facing tools.
CPQ and Product Visualization technologies are tools to fill this gap. Product configurators allow customers to interact with your products in real time and provide a personalized experienceThis enables revenue gains and cost efficiencies for your customers, sales and marketing teams.
CPQ and Visual Configuration can guide the buyer through the complexities of product designs. Price optimization can automate accurate costs in real-time with pricing rules specific to buyers, resellers, and partners. Quotes and proposals can generate bill of materials and approval drawings for customer and sales confidence. These technologies can interface with commerce sites and your CRM to create a best of breed environment.
By investing in CPQ and Visual Configuration, you will have the ability to respond to customer requests quickly, with fewer costs all while creating confidence in your product to strengthen customer relationships.
Sound like something you’re interested in? Let’s chat!