Sales acquisition is a growing challenge
In today’s B2B world, increasing revenue is more challenging than ever before. This is due to:
- A longer sales cycle: the sales cycle has increased by 25% in the past six years, hitting an average lead-to-close length of 102 days.
- Fewer deals are closed: salespeople hitting their quotas dropped from 63% to 53% in the past six years.
- Un-optimized prices: companies not actively managing price today is losing 2%–4% in operating profit.
Furthermore, the buying process has changed. Buyers are more inclined to independently gather information. Gartner research tells us that when B2B buyers are considering a purchase‚ they spend just 17% of that time meeting with potential suppliers, and when buyers are comparing multiple suppliers‚ the amount of time spent with any one sales representative may be as low as 5% or 6%.
Personalize offers in real time with Capgemini’s Configure, Price, and Quote (CPQ) solution
Capgemini’ s CPQ offer helps our clients unleash CPQ’s potential to maximize hit ratio and value creation for our clients and their customers. We believe there are three sales dimensions which require transformation for maximized CPQ impact:
Rethink the offer portfolio
- Optimize the products and services portfolio to offer more clarity and a new level of customization depending on the organization’s size. This can be done in three steps to maximize value creation, that include know and segment your customers, refine and redefine your portfolio, and construct your go-to-market strategy.
- Implement a smart pricing strategy to ensure optimum prices bring high revenue and margin while remaining competitive. This requires fair, clear, and adjustable pricing.
Enhance the sales organization and processes
- Ensure customer-centric processes and optimize for ingenious quotations. This is twofold; structure your sales process insisting on lead qualification, proposal, negotiation, and sign off phases to maximize hit ratios and design it around customer profiling principles and logic; and integrate long-term customer care thinking into the process to adjust the quotation to the customers evolving needs and behaviours.
- Invest in an ambitious training plan for the sales force to guarantee full potential use of the new CPQ, boost performance, and maximize adoption.
Leverage the full technology potential
- Select, implement, and integrate the right CPQ tailored to the appropriate sector, offers, and extent of the range to empower the sales team, boost performances, and gain a comprehensive view of customers.
- Build a suited data architecture allowing CPQ to retrieve the right information in real time.