How CPQ Fits Into the New Normal for B2B Sales
COVID-19 has left nothing unaffected. While the pandemic is lasting a lot longer than we all thought/hoped, it is important to identify the ways it has impacted us. In this short article, we will briefly discuss how B2B sales have been redefined since the start of the outbreak, and how CPQ can answer the (new) needs.
How CPQ fits into post-COVID B2B sales
COVID-19 has since its outbreak in the beginning of 2020, forced us to reinvent our habits and practises. Quarantining, lockdowns and travel restrictions have all driven us to use digital alternatives in a new, remote world. Sales representatives had to find a different way of communicating their traditional sales processes: Almost 90% of sales had moved to a videoconferencing (VC)/phone/web sales model (McKinsey, 2020). The effectiveness of remote selling is up for debate, though more than half believe it is equally or more effective than the traditional sales models.
Now that we have been dealing with the pandemic for a couple of months, it is clear that the sales business won’t be like it was before. We are slowly entering a new kind of normal. COVID-19 has accelerated previous trends like the consumerization of B2B, tech-enabled selling and e-commerce. How can companies adapt to this new environment?
It is important to look at your customers’ changed needs. During the pandemic, they experienced the efficiency of self-service tools. A fast digital service for your customers has been proven to be indispensable. However, make sure to tackle the biggest buyer frustrations too: a long ordering process and the difficulty of finding products will drive your customers away. Optimize your e-commerce platform while making sure you offer flexibility to help your customers.
And this is exactly where HiveCPQ can come into play. Our CPQ software offers you a direct channel for your customers to configure their own products in a self-serving instrument. They have immediate access to the right prices and price differences, and they have the option to download good-looking quotes within seconds. HiveCPQ lets them order, track the status and contact the customer service all in one platform.
HiveCPQ tackles some of the most important challenges B2B sales are facing after the COVID-19 pandemic: digitalization, e-commerce, automation and self-serving tools for customers. Now more than ever, we need a CPQ system for our industry.
Do you want to know more?
Follow us
Related articles
How to generate documents with CPQ
CPQ or Configure Price Quote software automates document generation for sales representatives. By seamlessly creating quotes, technical sheets, and more, CPQ saves time, reduce the risk of errors, and increases customer satisfaction. Let’s take a look at how exactly document generation in CPQ works.
Why you should create quotes using automation software
Quotes are formal documents sent to your clients to offer goods or services at the indicated price. A good and winning quote includes accurate prices and product information, and has proven to be a method to grow your business even further. However, if you are selling configurable products, writing quotes is usually a long and dreadful process. The complexity of the products and prices slows down the workflow, resulting in an enormous backlog of quote requests that are not followed up quickly enough to keep the customers interested.
Buy vs. Build CPQ software
Companies we talk to are often challenged to decide whether to buy a Configure, Price, Quote (CPQ) software or to build one themselves. Both approaches have their advantages and disadvantages. Today, we are making a comprehensive comparison of the two. We believe it is more beneficial for companies to buy CPQ software. Find out why below.
