Sales kickoff 2022 is an opportunity to reduce sales hire ramp-up time with DealHub CPQ
Sales Kickoff

SKO 2022: Reduce Sales Hire Ramp-up Time by 85%

Digital transformation of sales is an important strategic mission for forward-thinking revenue leaders. In 2020 alone, spending on digital transformation technologies topped $1.3 trillion.

Winning strategies tend to be those that successfully combine familiar ways of doing things with new technologies and processes. But unfortunately, revenue and sales leaders’ focus on improving technological capabilities doesn’t always translate into improved internal processes.

Why? Although the benefits of digital transformation may be clear, and the threat of falling behind may be well-understood, processes are difficult to change. People are resistant to change. And many of the benefits that would help achieve organizational buy-in may not be immediately obvious.

Ramping up sales reps is one process that can be dramatically improved through the use of new technologies. And DealHub’s guided selling solution for CPQ is the bridge between “technology” and “processes” that revenue leaders have been waiting for.

An advanced CPQ optimizes your sales process

In the past, quoting was accepted to be a lengthy, time-consuming and error-prone necessity. Despite being the core element of a sales proposal, it existed on a sort of island – detached from the broader processes that make up the quote-to-close sales cycle.

The introduction of CPQ technology disrupted this decades-long equilibrium. Price and product books that were once distributed across spreadsheets and computer files became centralized into a single  repository. Creating dependencies between list items in quotes became automatic. Calculating discounts became instantaneous.

Today, CPQ adoption is considered a must-have for sales organizations of even mild complexity.

But in terms of using it to streamline the quote-to-cash process, many companies are lagging behind. They still view the benefits of CPQ purely from a quote-generation perspective. They’re missing the full potential of this technology to generate massive revenue impact across the sales cycle.

Visionary leaders recognize this, and are using DealHub’s advanced CPQ technology to evolve how they manage their technology, processes and people across the entire pipeline. One of the most exciting ways this is currently being done is by accelerating the sales team onboarding process.

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The challenges of sales rep ramp-up

Ramping up sales reps is notoriously difficult. New hires come into the organization with lots of enthusiasm but no knowledge of the company. Even if they know the space, they have no understanding of the specific sales strategies developed by management and/or the C-Suite.

This presents three major problems for sales and revenue leaders. First is the amount of time spent on onboarding and training. Although sales reps can perform some value-generating activities while getting ramped up, their impact is usually minimal. Every day that a rep must spend their time learning about products and pricing is a day they aren’t selling. This problem is magnified as companies scale and hire more and more sales reps — exponentially increasing the amount of salary paid out to non-productive employees.

Second is their understanding of how to maximize the value of every account – particularly subscription contracts. Even if reps understand the correct product and pricing strategies, it takes longer for them to learn how to negotiate complex subscription contracts and increase renewals. Knowing where to find upsell and cross sell opportunities, as well as how to structure recurring revenue contracts to deliver a predictable and growing revenue pipeline, requires a more nuanced understanding.

Third is the challenge of empowering reps to make pricing decisions independently. A rep’s ability to navigate the decision-making process is a prerequisite to doing their job effectively. If the ramp-up process requires them to interact with multiple levels of an organization before they can begin to create quotes, it limits their ability to deliver immediate revenue impact.

3 onboarding challenges for sales reps

Better onboarding should be part of your digital transformation strategy

These problems present significant challenges for sales and revenue leaders looking to hit sales targets and close the revenue gap. Ramping up new employees more effectively is one of the best ways to increase sales and revenue achievement. But if every new hire requires a huge onboarding investment, the cure can quickly become worse than the disease.

Visionary leaders must take onboarding efforts seriously. And it’s not just a hiring issue — it’s the tip of the spear in a larger digital transformation strategy.

Given the centrality of CPQ and sales onboarding to revenue generation, sales organizations that use next-generation technology to bridge the two will experience greater success.

DealHub CPQ is that next-gen technology. DealHub reduces onboarding time for new sales hires by 85%, empowering leaders to close their revenue gap not just by growing their team, but by empowering new hires to deliver revenue quickly.

Want to see DealHub in action? Request a demo

DealHub CPQ + accelerated sales ramp-up drives revenue

In addition to providing the modern capabilities of an advanced CPQ, DealHub CPQ addresses sale onboarding challenges and encourages seamless adoption by sales reps.

Shorten sales ramp-up with a guided selling playbook

Understanding how pricing and product combinations interact with customer profiles is a huge barrier to sales ramp-up. Old CPQ technology didn’t help with this. Even though it could quickly do the math, reps still needed to decide what to put into the quote for each customer.

DealHub CPQ offers a dynamic guided selling playbook that automates not just the mathematics, but also the selection of products and pricing that go into a quote. It does this by asking reps a series of questions about the core properties of the deal, and running their answers through a rule-base engine that’s been predefined by management. This engine then creates a quote that aligns perfectly with the strategies created by sales and revenue leaders.

This offloads the difficult task of figuring out the best pricing and product combination for any individual deal, and minimizes (if not eliminates) the need to understand how everything fits together. Instead, reps can begin selling as soon as they have strong knowledge of the products’ value propositions – something that’s significantly easier to achieve.

This is one way DealHub CPQ reduces onboarding and training time for new hires, while also helping them achieve immediate revenue impact.

How Guided Selling Works

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Maximize value and scale revenue with subscription management

DealHub CPQ uses advanced subscription management to automatically maximize the value of all deals, regardless of how experienced the relevant sales rep is.

New hires struggle with maximizing contract value because old CPQ technologies left product-bundling and staggered yearly renewal pricing models up to the sales rep. Getting those right is even more difficult than understanding basic pricing strategies, and some reps may never fully understand them.

In contrast, DealHub CPQ technology implements these strategies by automatically incorporating them into quotes. Leadership can input the most profitable bundles into the rule engine, and set them to be triggered whenever relevant – ensuring they never miss an upsell or cross-sell opportunity. In addition, DealHub CPQ automatically structures quotes for recurring-revenue contracts by allowing sales leaders to configure optimal buyer-specific pricing and interval increases.

Instead of settling for months or even years of sub-optimal quotes by new reps, leadership can now exert control over pricing strategy and execution at the point of quote creation. With all quotes accurately reflecting the latest strategy, regardless of who generates them, scaling teams doesn’t have to come at the expense of building predictable revenue pipeline.

Integrate employees faster with streamlined workflows

New reps need to be taught how the sales organization works together to close deals. In companies without an advanced CPQ, this leads to an inefficient combination of hierarchical decision-making and manual notifications. For example, if a rep wants to make changes to a quote that requires approval, they must know whom to send it to, and then manage potentially multiple threads of conversation.

Especially for new reps, this process is complex, error-prone and slows things down. They might need to get multiple approvals from siloed departments, forcing them to negotiate across competing departmental priorities and personalities. Things inevitably get missed or overlooked until the new hire becomes familiar with the structure and best practices of the organization. Even veterans make mistakes.

DealHub eliminates the need for those manual workflows that result from using old CPQ tools. DealHub CPQ enables sales leaders to set automated notifications that go out to all relevant stakeholders and departments, simultaneously. Instead of new hires having to spend months learning how to navigate the approvals process, they can slot themselves into the organization’s larger decision-making process from day one.

All of this adds up to one simple idea: a seamless and fully digital, high-value CPQ workflow that protects the integrity of your deals – so you can scale your sales organization effectively.

Accelerate your digital transformation and Close the Revenue Gap with DealHub

The current wave of digital transformation promises to create winners and losers in every industry. Visionary leaders must evolve to streamline their processes and empower their people.

The bar has been raised, and standing still in competitive marketplaces is no different than going in reverse. Accelerating revenue and sales ramp-up time requires a rethink of your revenue operations from end to end.

How you onboard sales reps is a key part of this conversation. Reps are the lifeblood of every successful sales team. Leaders that invest in DealHub CPQ’s advanced technology can significantly reduce onboarding time, accelerate sales processes, drive greater revenue, and realize the full potential of digital transformation.

Want to see DealHub in action? Request a demo