Spaulding Ridge’s Salesforce practice focuses on aligning these features to your business processes and helping you get the most out of your investment.įounded in 2018, Spaulding Ridge is a top management consulting firm, dedicated to client success and helping organizations implement and adopt best-in-cloud technology to solve their most pressing challenges. That’s all you need to do to set up a product for Multi-Dimensional Quoting.īefore you think custom coding or costly implementation, truly understand the benefits CPQ offers from day one. Simply apply a Price Dimension to a Subscription Product and define the term segment as Year, Quarter, Month, or Custom. Building out different pricing details month-over-month or year-over-year is completely out-of-the-box with Multi-Dimensional Quoting. Clients often bring use cases to Spaulding Ridge around offering a 13th month free, or ramping discounts up or down over time. Multi-Dimensional QuotingĪnother powerful feature in CPQ pricing strategies is Multi-Dimensional Quoting. Marketing and Sales Directors can create Promotions against Campaigns, and Discounts will automatically flow into Quotes until the Campaign and Promotion ends. A simple Price Lookup rule that targets the Campaign object can be used to pull in Discounts that are maintained on the Campaign record. Price lookup rules are very common, but it is less common to see them used for Promotional Pricing. You must rely on Sales teams to promote and sell correctly based off of the promotion.Ī very simple and easily maintainable solution is available in CPQ. But in a B2B setting, it’s not always as easy to automate that process. One of the best ways to win new business is with Promotions. Your Sales team will have access to all of the tiers for a selected product in CPQ, and this enables them to confidently upsell knowing the pricing right away rather than having to seek approval. Tiered discounts encourage upsells to clients. We recommend leveraging CPQ to automate this process. It’s an obvious decision to give a client a discount if they are willing to provide us with more revenue, but Sales teams do not always know the optimal discount based on a larger revenue deal. This feature streamlines the discounting decisions for Sales Reps. These features allow your Prices or Discount to automatically update based on longer contract terms or higher quantity amounts. Many organizations using CPQ do not utilize the Tiered Pricing that is offered in CPQ within either Block Pricing or Discount Schedules. If you’re preparing for a CPQ project, already have CPQ implemented, or if you’re considering new ways to price your products without a CPQ solution – take a look at these three key CPQ features. The “if it isn’t broken, don’t fix it” mentality can prevent healthy change, but CPQ can accommodate a wide variety of Pricing Use Cases, and oftentimes some great ‘out-of-the-box’ features that organizations don’t utilize. Most clients that we’ve worked with do not generally have the appetite to revise their pricing structures or strategies.
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