Generate Bigger Deals with Guided Selling

Lead to Money:

Generate Bigger Deals with Guided Selling

July 31, 2013

Lead 2 Money

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

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

© 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


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


Configure, Price, Quote – CPQ

Introduction to CPQ

Foundation

Traditional ROI

Trends

Lead to Money (Sales Velocity)

#CPQ


Configure, Price, Quote – CPQ

Cloud-based application to increase deal size, reduce error by automating the process

#CPQ


What could go wrong?

#CPQ


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


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


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


Mobile Graphic

#CPQ


Poll

Have you made a

purchase where you

swiped your credit card on

a mobile application?

#CPQ


Adaptation maze

Emerging : Telecom

High Tech

Manufacturing

#CPQ


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


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


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


Pipeline Management

Bad data in SFDC or your CRM

CPQ Manages data

#CPQ


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


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

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

Upsells and Guided Selling

#CPQ


#CPQ

Commissions Display Affects Behavior

#CPQ

Embedded Learning

#CPQ


#CPQ


#CPQ


#CPQ

Electronic Delivery and Acceptance

#CPQ


#CPQ


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#CPQ

Approval Probabilities Reduce Noise

#CPQ

Budget-Based Deal Making

#CPQ

Margin Health

#CPQ

Collaboration Across the Enterprise

#CPQ


#CPQ


#CPQ


#CPQ

Gamification

Competition, Recognition, Mastery

#CPQ

Gamification


#CPQ

Gamification


#CPQ

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

Q&A

#CPQ

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 [email protected]

Chris Lesar VP CPQ Sales

CallidusCloud

Email: [email protected]

Doug Erb

Principal Partner

Canidium

Email: [email protected]

Twitter: @erbdoug

#CPQ

http://www3.calliduscloud.com/CPQ-Free-Trial.html?utm_source=webinar&utm_medium=ppt&utm_campaign=Q3-13-cpq-webcast