Generate Bigger Deals with Guided Selling


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Best Practices in Guided Selling.

Are your sales reps leaving money on the table because you don't have a guided selling process in place? In this presentation industry experts discuss how implementing a guided selling process, utilizing configure, price, quote (CPQ), helps you deliver increased deal sizes with fewer errors.

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Generate Bigger Deals with Guided Selling

  1. 1. Lead to Money: Generate Bigger Deals with Guided Selling July 31, 2013
  2. 2. Lead 2 Money
  3. 3. 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
  4. 4. 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
  5. 5. © 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
  6. 6. © 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
  7. 7. © Canidium LLC 2013© Canidium LLC 2013 Configure, Price, Quote – CPQ Introduction to CPQ Foundation Traditional ROI Trends Lead to Money (Sales Velocity) #CPQ
  8. 8. © Canidium LLC 2013© Canidium LLC 2013 Configure, Price, Quote – CPQ Cloud-based application to increase deal size, reduce error by automating the process #CPQ
  9. 9. © Canidium LLC 2013© Canidium LLC 2013 What could go wrong? #CPQ
  10. 10. © 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
  11. 11. © 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
  12. 12. © 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
  13. 13. © Canidium LLC 2013© Canidium LLC 2013 Mobile Graphic #CPQ
  14. 14. © Canidium LLC 2013© Canidium LLC 2013 Poll Have you made a purchase where you swiped your credit card on a mobile application? #CPQ
  15. 15. © Canidium LLC 2013© Canidium LLC 2013 Adaptation maze Emerging : Telecom High Tech Manufacturing #CPQ
  16. 16. © 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
  17. 17. © 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
  18. 18. © 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
  19. 19. © Canidium LLC 2013© Canidium LLC 2013 Pipeline Management Bad data in SFDC or your CRM CPQ Manages data #CPQ
  20. 20. © 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
  21. 21. © 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
  22. 22. 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
  23. 23. Upsells and Guided Selling #CPQ
  24. 24. Upsells and Guided Selling #CPQ
  25. 25. Commissions Display Affects Behavior #CPQ
  26. 26. Embedded Learning #CPQ
  27. 27. Upsells and Guided Selling #CPQ
  28. 28. Upsells and Guided Selling #CPQ
  29. 29. Upsells and Guided Selling #CPQ
  30. 30. Electronic Delivery and Acceptance #CPQ
  31. 31. Electronic Delivery and Acceptance #CPQ
  32. 32. Electronic Delivery and Acceptance #CPQ
  33. 33. Electronic Delivery and Acceptance #CPQ
  34. 34. Approval Probabilities Reduce Noise #CPQ
  35. 35. Budget-Based Deal Making #CPQ
  36. 36. Margin Health #CPQ
  37. 37. Collaboration Across the Enterprise #CPQ
  38. 38. Collaboration Across the Enterprise #CPQ
  39. 39. Collaboration Across the Enterprise #CPQ
  40. 40. Collaboration Across the Enterprise #CPQ
  41. 41. Gamification Competition, Recognition, Mastery #CPQ
  42. 42. Gamification Competition, Recognition, Mastery #CPQ
  43. 43. Gamification Competition, Recognition, Mastery #CPQ
  44. 44. 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
  45. 45. Q&A #CPQ
  46. 46. 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 Chris Lesar VP CPQ Sales CallidusCloud Email: Doug Erb Principal Partner Canidium Email: Twitter: @erbdoug #CPQ
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