Posts Tagged ‘Technology’

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3 Stages of Bundles

December 24, 2020

The 3 Stages of Bundles

Manufacturers like bundles: it improves margin, drives up the Average Unit Price (AUP) and aids marketing (selling solutions versus a bunch of parts).

Configure Price Quote (CPQ) can enable bundles if it can handle all three stages of the process of delivering them:

Stage 1 – Bundle Creation

Deciding which products to group should be simple, it is not. Limiting the portfolio will reduce the attractiveness, increasing flexibility will increase the complexity for transactional partners (e.g. Distribution).

Whether you describe this as Big Data or Artificial Intelligence: if you have quote/sales data that is fresh, relevant and dynamic, it can be leveraged to ensure products are market appropriate. Your CPQ application should be able to do this and provide a vehicle to create starter kits, which users should be able to customize. Critically it must track product lifecycle status and ideally, local inventory.

Historically, without CPQ, eCommerce has relied on virtual part numbers to manage bundles. This approach is problematic. A rule that says ten systems can have ten options and ten services creates 1000 virtual parts. Most of which will never be used.

Stage 2 – Bundle Customer Experience (CX)

Where the tyre meets the tarmac. A user will only choose a bundle route if the experience is flawless:

  1. When a user chooses a product that is available in one or more bundles offer them but do not mandate them.
  1. Some users will enjoy a solution experience, so also offer that route.
  1. Ensure that if a user breaks a bundle (by removing a component), the user can undo to restore it.
  1. Offer proximity alerts – add X product or service to enable this bundle and make $Y saving.

Stage 3 – Rebate Claiming

Manufacturers that sell through a Channel invariably compensate the Seller retrospectively for the Bundle discount. With very flexible bundles, the Seller needs to validate their claim – CPQ can pre-validate claims using the same rules set to create them. Claiming issues is a key barrier to adoption in Channel.

Summary

If you are serious about bundles – you need CPQ. If you are in the Tech Sector – you need channelcentral.

Watch the summary video here:

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How can CPQ applications best drive eCommerce and sales enablement for the IT Channel?

June 25, 2020

A Configure Price Quote (CPQ) vendor with a vertical market focus, can understand quickly and precisely what you need. channelcentral operates exclusively in the heart of the IT Channel.

Good CPQ should improve the customer experience (CX) while lowering the cost of sales. Your sales staff and customers need to quote quickly, accurately, with compatible options and your latest prices. Forrester reveals that the reduced sales rep time on admin and lower-value tasks accounts for 65% of the total revenue benefit resulting from sales enablement modernization.1 Free up your staff to build more meaningful customer relationships and work on higher-value deals.

CPQ can improve customer engagement and the experience sellers create with buyers. Linking your webstore to your CPQ application gives your customers a seamless and more meaningful buying experience.

CPQ applications can leverage inventory and influence demand shaping. Optimizing configurations for in-stock products, using top-recommended options, auto-add, finders and product associations.

CPQ can create measurability – where there is an expectation of meeting or exceeding sales targets. Our CPQ applications easily accommodate sales promotions and SPIFs to incentivize sales.

Enable customers to self-serve and access anywhere.  More than ever B2B buyers are expecting to self-serve.  Infact, 67% of buyers prefer to avoid interacting with sales as a primary source of information.Our CPQ applications can be used from wherever a user is working from.

When a customer needs to have contact with sales, provide your sellers with technology, content, and insights that make them relevant and effective in front of buyers. 84% of buyers want sales staff to understand their industries, business and products.3

Technology should be designed around sales processes. Let our IT Channel CPQ drive your sales and eCommerce.

1 Forrester’s Q2 2019 Global Sales Enablement ROI Survey. See the Forrester report “Building The Business Case For A Modern Sales Enablement Toolset”, November 6, 2019

2 “Now Tech: Sales Enablement Automation, Q2 2020, Forrester Research, Inc.

3 Forrester Consulting’s Q3 2019 Global Marketing Content Credibility Study. See the Forrester report “Credible Empathetic Content Wins Over Elusive B2B Buyers”, April 30, 2020

Watch the video summary here: