I read a fascinating story recently. Pac-Man, the arcade game much beloved of my generation, was so complex that when, finally, Billy Mitchell achieved the perfect score in 1999… well, I won't tell you. Go ahead and read it first.
To ensure your configure, price, quote (or larger sales) transformation investment gets the desired results, there are three essential change management steps you should follow. These steps are critical because CPQ is – at the end of the day – used by people with different needs and different expectations. If you want to maximize user adoption and success, you need to listen to your CPQ constituents closely and most importantly, early in the transformation process.
Realize your potential. This is the theme of this year’s PROS Outperform conference, which opens today in Orlando. The recent gyrations in global stock and oil markets remind us of how volatile the global economy is and underscores the need for business to address both top-line and bottom-line growth. Data-driven pricing, revenue management, and CPQ and sales optimization are all helping industry-leading companies thrive in spite of these market challenges.
With more chocolate lovers than ever, you’d expect candy producers to be on cloud nine. After all, according to Euromonitor International, global demand for chocolate rose 0.6% to a record 7.1 million tons last year, thanks in part to a 5.9% spike in Asia where chocolate consumption is surging. However, instead of elation in the board room, there’s the real fear of a chocolate shortage.
Sales and marketing have changed. Were they not fictional, Don Draper from Mad Men, and Blake from Glengarry Glen Ross would be shocked by common practices in commerce today. We have moved away from combative, zero-sum activities towards a more complex, nuanced world of “synergies,” joint-ventures between competitors, and a desire for negotiations to be “win-win” rather than “win-loss.”
Companies continuously look for ways to leverage revenue growth by getting scalability out of the sales organization and keeping field selling costs down. Many of them now measure sales performance in terms of both revenue and margin impact. In this environment, hitting your quota is a real challenge, one that requires discipline and sales effectiveness.
Shorter sales cycles, savvier buyers, and increasing pressure to grow both revenue and margins are taxing CSOs and senior sales leadership. To help lighten the load, sales enablement – distinct from sales operations – is emerging as an essential function in successful companies.
When you’re looking for ways to accurately forecast the impact of a mass price change, the key is precision in your data and analysis, your pricing strategy and process.