For lasting success and increased revenue, it’s essential to both gain new clients and keep current ones.
While the tried-and-true methods of customer service and training customer success teams are essential, there’s another resource for providing a positive customer experience.
Configure price quote (CPQ) software is primarily a sales tool, but because of its many abilities and functions, it can also positively influence customer experience and engagement.
Customer engagement CPQ
So, what exactly is CPQ, and what does it have to do with customer engagement?
CPQ is a three-step process that sales professionals use to create quotes for complex products or services.
- Configure: Think of products with options and add-ons like computers or cars.
- Price: Once all of these customization options are considered, the product or service is assigned a price.
- Quote: The actual figure that’s delivered to a customer
In the past, sales teams had to do this process manually, using spreadsheets or other error-prone methods.
With CPQ software, sales reps can input necessary information or pull this in from a CRM system and, based on pre-approved pricing rules, can deliver fast, accurate quotes for highly customized products.
How does CPQ software enhance customer engagement?
CPQ solutions are beneficial for sales teams and customers.
Maintaining clear, consistent customer communication is critical during the sales cycle, especially when prospects are considering multiple options.
When they have to wait for a response, it could decrease their chances of signing or buying. That’s where CPQ software comes in.
Faster quotes and improved communication
Because sales reps no longer have to rely on manual processes for generating quotes, they can deliver fast, accurate proposals and respond to customers in a timely manner.
Reps are also more readily available to answer prospects’ questions when they’re spending less time on administrative tasks, providing the human touch that customers value.
Increased quote accuracy
With features like rules-based engines and dynamic pricing, CPQ software takes the guesswork out of the quoting process.
That means reps can deliver accurate quotes that reduce the need for back-and-forth communication.
Custom-tailored quotes
Prospects are looking for solutions. That means they want to select products or services that cater to their needs, align with their business goals, or solve their problems.
A one-size-fits-all pricing strategy won’t suffice.
CPQ tools enable sales reps to deliver personalized proposals and incorporate discounts or bundled pricing.
In the past, these things could slow down the quoting process because they required approvals from management or leadership.
With CPQ software, you can set rules to dictate when deals need to be approved based on a discount threshold or other criteria.
Self-service options
Some CPQ tools even allow buyers to follow a guided process and select different options to generate a quote. That means prospects can get pricing information without working with a sales rep.
Customer insights
CPQ software can offer valuable insights into customer preferences, frequently selected configurations, and pricing sensitivities.
This data enables sales teams to tailor follow-up conversations and present offers that resonate with customers’ needs.
When sales reps can spend less time on manual admin tasks and quote building, they have more time to focus on selling and talking to customers, improving the experience for everyone involved.
What is customer engagement in CRM?
Customer engagement in CRM is how a business uses the data from its customer relationship management (CRM) software to better understand customers and tailor communication and interactions to improve the customer experience.
CRM software centralizes real-time customer data in one convenient location to empower organizations to build customer relationships and identify sales opportunities based on user behavior and preferences.
Here are some key ways a CRM tool can enhance customer engagement.
- Provide better customer service: By reviewing the data in your CRM before or during customer interactions, reps can anticipate needs and objections and provide better service to solve specific problems.
- Streamline communication: With CRM software, you can automate follow-up messaging and keep track of customer interactions. This regular communication ensures no questions or messages go unanswered.
When you can access customer data, you can provide personalized service based on users’ pain points, behaviors, or preferences.
Why do we integrate CPQ and CRM?
CPQ and CRM systems complement each other. A CRM tool collects and stores customer data, and a CPQ platform uses those insights to create accurate, personalized quotes.
Two-way integration between these tools means customer data can be synced without manual input, and sales reps can access customer information, pricing, and product configurations when needed during the sales process.
Integrating CPQ and CRM software leads to faster, more accurate quotes that cater to customer needs.
PandaDoc CPQ integrates with popular CRM systems, including Salesforce and HubSpot, allowing reps to access customer data and generate quotes from one platform vs. switching between multiple tools.
Using PandaDoc CPQ for HubSpot, HAAS Alert saved their finance team 120 hours per month and increased document creation efficiency by 66.67%.
“Upgrading our subscription to take advantage of PandaDoc CPQ for HubSpot has been well worth it. I had tried other CPQ options, and they were all subpar. I’m super happy with our choice and can’t stress enough how much we needed this solution”
Emerson McCuin, Director of Revenue Operations at HAAS Alert
Improve customer engagement with CPQ software
CPQ software doesn’t just simplify and speed up the quoting process; it enhances the entire customer experience.
And happy customers become loyal brand advocates who are more likely to recommend your products and services to others.
PandaDoc CPQ combines quoting tools with end-to-end document management in an easy-to-use platform.
Want to learn more about how PandaDoc can help you improve customer engagement and business operations? Start your free 14-day trial today.
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