top 10 do's and don'ts for digital pricing transformations with CPQ for Microsoft Dynamics CRM

Sales Executives: Top 10 Do’s & Don’ts for Digital Pricing Transformations

Sales processes are more complicated than ever and making a digital pricing transformation is critical to your organization’s success. If you’re still stuck in the past, and haven’t implemented and adopted CPQ (Configure Price Quote) software, then you’re still probably navigating through a plethora of challenges and obstacles. 

Some of these challenges include semi-automated workflows that are inefficient and require tedious manual tasks to complete. And even though your Microsoft Dynamics CRM may store customer data, it does not offer your sales team with a centralized source of customer data that also provides them with a guided selling process. 

With complex sales processes, inefficient manual tasks, and a lack of CPQ for Microsoft Dynamics CRM, Sales Executives will find it difficult to scale without having to hire more sales administrators. Lastly, CPQ software makes it possible to measure margin efficiency across all sales pipelines. In this article we cover the top 10 do’s and don’ts every Sales Executive should know about when embarking on your digital pricing transformation with CPQ for Microsoft Dynamics CRM.

Top 5 do’s when deploying your digital pricing transformation with a CPQ for Microsoft Dynamics CRM

With years of experience working with top Sales Executives, we’ve gathered some hard earned insights for you to learn from and help you avoid these common mistakes. To guarantee your digital pricing transformation is a success, make sure you’re following these five critical “do’s” to streamline your sales process, eliminate mistakes and errors, and improve the seller and buyer experience. 

1. Do automate complex sales processes 

Complicated sales processes easily frustrate sales reps, lead to lost time, and potentially lost deals. For example, reps may find it difficult to generate quotes accurately, especially if working with multiple SKUs for the same product, which can ultimately lead to lost revenue. Quote generation can be a tedious process and also be full of inaccuracies. It’s crucial to automate key parts of the sales process, like quote generation, to ensure a frictionless seller experience. 

2. Do monitor how long it takes sales reps to generate quotes

It’s important to frequently monitor and be attentive to how long it takes your sales reps to create quotes. There’s a significant probability your clients are having to wait longer than is reasonable or advantageous to closing deals faster. While sales velocity and generating quotes quickly is important, speed isn’t everything. It’s paramount to your organization’s credibility that quotes are accurate as well. 

3. Do make sure that you are maximizing revenue opportunities with every customer quote

Your sales team should be maximizing every revenue opportunity when generating customer quotes. The best way to accomplish this? Ensure your sales reps are offering customers optimal packages to maximize revenue. With guided selling, sales reps are provided with the best possible product bundles, including upsell and cross-sell bundles, to ensure your sales team is maximizing revenue. 

4. Do consider the customer experience and make the buying process smooth and effortless

Long and drawn out sales processes that slow down the negotiation phase can result in lost deals and reduced organizational credibility. Gartner research shows, “delivering a great experience to prospective buyers has the biggest impact on whether or not they will buy something. The overall buying experience actually outranks product and price.” With that being said, it’s important to ensure your sales reps are providing customers with prompt and efficient service so customers can fully trust that quotes will always be done accurately and quickly in the future. 

5. Do invest in CPQ software to create a frictionless sales process and enhance your Microsoft Dynamics CRM experience

CPQ software improves the seller and customer experience by optimizing the sales process, minimizing administrative work, and ensuring the delivery of accurate and prompt quotes to the customer. Modern and powerful CPQ software also measures customer engagement, tracks deal progress, and gives sales process insights to act on. In the current B2B sales environment, filled with complex and sometimes fragmented sales processes, CPQ software is a must in order to enhance your Microsoft Dynamics CRM experience.

Top 10 do's and don'ts for Sales Executives when planning and deploying digital pricing transformation with CPQ for Microsoft Dynamics CRM infographic
Top 10 Do’s and Don’ts for Digital Pricing Transformations with CPQ for Microsoft Dynamics CRM

Top 5 don’ts when completing your digital pricing transformation with a CPQ for Microsoft Dynamics CRM

Sales reps are either taught strategies and tips or they presume that certain actions are acceptable. Unfortunately, many of these employees are doing the incorrect things and, as a result, are not experiencing the desired outcomes. This is not a problem they created; but a problem technology created for them. Make sure your sales team is avoiding these top 5 “don’ts” when making your digital pricing transformation. 

1. Don’t burden your sales rep with manual pricing calculations

Manual pricing calculations are risky, as it opens the door to human error and mistakes. Sales reps can potentially create quotes and contracts that either undercharge or overcharge the customer. And manually calculated pricing discounts also bear the possibility of error. 

CPQ technology takes the guesswork out of manual pricing calculations. All the sales rep has to do is input the correct product packages and CPQ software calculates all pricing and discounts automatically. Automated approval workflows are sent to the appropriate department when pricing and discounting fall outside of predetermined guidelines set by administration.

2. Don’t copy and paste customer details from one tool to another

As mentioned above, manual tasks that allow for human error can lead to lost revenue. Pasting customer details from one tool to another – also known as “chair swiveling” – is ineffective, time consuming, and error prone. With automated synchronization between your CRM and CPQ software, you eliminate the opportunity for your sales reps to make unnecessary and costly mistakes.

3. Don’t expect sales reps to be unofficial “in-house lawyers”

Sales reps should not be creating their own contracts, and this also applies to changes made to Terms and Conditions during the negotiation process. CPQ software allows your legal department to set legal standards and make changes on their own, safeguarding sales reps from making changes themselves. Legal can rest assured that every contract sent is approved by them, even if changes need to be made after the quote is sent.  

4. Don’t let approval workflows work against you, but rather for you

Internal processes should not slow down the sales process. For example, approval workflows should not delay sales reps from “passing on the baton”. Various departments that need to be brought into the process are seamlessly looped in via the CPQ solution. Moreover, automated approval workflows remove unnecessary back and forth communication and confusion that can hold up the quote-to-close process. 

5. Don’t implement tools that aren’t user-friendly and complicated 

If you want 100% sales team adoption, don’t implement CPQ software that is not user friendly and complicated to use. Remember, CPQ software should streamline and automate key parts of the sales process, not frustrate your sales teams. The solution needs to be quick to implement, modern, and most importantly – easy to use!

Provide a frictionless sales process with a CPQ for Microsoft Dynamics CRM

When embarking on digital transformations many leaders mistakenly think it’s all about the solution you implement. Our hard-earned insights and experience has shown, more often than not, that it’s about the processes that underlie the solution choice. Is it simple enough? Is the logic right? Does it leave room for my specific organization’s context? 

With CPQ software, like DealHub CPQ, you can easily avoid many of the aforementioned “don’ts” easily and efficiently. DealHub CPQ automates nearly every aspect of the sales process, eliminates human mistakes and errors, and provides your sales team and customers with the most modern and efficient sales journey. 

When completing your digital pricing transformation, it’s crucial to integrate DealHub CPQ software with your current Microsoft Dynamics CRM. By doing so, Sales Executives can eliminate manual pricing calculations, copying and pasting from one tool to another, unprofessionally generated quotes and contracts, and ineffective communication and approval workflows. 

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