In the last few months leading up to the new year, we spoke with several manufacturers across all industries who were designing new products to introduce in the new year. These manufacturers ranged from multi-billion dollar to $50 million organizations, and they all asked the same question, “How do we change the way our reps and partners sell to easily launch new products?”. Suppliers are constantly evaluating margins and cost efficiencies, but rarely change the way they go-to-market. Sales has done well without change, and change can bring chaos. This is absolutely true, but a business that doesn’t change is a business that is going to die.
So how do manufacturers and suppliers change the way they sell? Traditional sales processes have been geared more towards customer relationships and being reactive to opportunities. New business and customer acquisitions are far and wide, and existing customers don’t have an immediate need for a new product. How are you going to deliver this new product to new customers? Historically sales technologies have been passive and reactive, like CRM. In all my years in sales, I’ve never heard a rep say CRM helped me close a deal. Manufacturers who are embracing digital change and technology are moving towards sales enablement tools to achieve excellence in their new business opportunities, more specifically CPQ technology.
CPQ technology provides the opportunity for sales to quote new products quickly and easily. With CPQ, manufacturers can launch new products proactively with sales prepared to engage new customers with the ability to sell and quote without product experts or engineers. CPQ gives suppliers the opportunity to build “bumper lanes” for sales with step-guided questionnaires that can quickly define the right product fit and customer value. OEM’s can streamline best practices and ensure continuous process improvement across the supply chain from sales to shop floor. This is how CPQ can move your business forward with positive change.
When a manufacturer is launching a new product, they can leverage CPQ to guide sales reps through the configuration process, automate bill of materials, price and generate accurate proposals in a matter of minutes. You’ll save your technical and engineering team time, you’ll be able to respond to new customer demands and have the opportunity to introduce new products with enabled sales reps for company growth and domination.