How to explain CPQ to your relatives this Holidays & all year round
For people who work in the industry, we often forget that the jargon and acronyms we speak fluently day-to-day are a foreign language to the outside world. We need a way to normalize the cutting-edge technology we work with so that it’s relatable for everyone.
Sharing a table with our closest, there always pop up questions about work. Most likely we are eager to spin the story about our great business victories and nuances. But what if the story talks about CPQ and no matter how many features and benefits we describe, all we get in response are baffled looks and blank stares?
A user story is a key to make it relatable to your audience. Find a common ground - place your story in an everyday context, well-known to your listeners.
Another trick is creating moments of "Wow", which are the moments where people see the light - they just can’t help but say: ‘Wow’. You give a solution to a long-term pain or an operational hack that will save time and money. It’s important to pause after revealing the wow trigger, to let its glory sink in the audience’s minds.
Let’s launch into the 8-step CPQ story for anyone to enjoy.
Take a fundamental commodity: cars
Petroleum-fuelled cars have been around since 1886 - everyone is familiar with them. It’s fundamental to lay a foundation for the story, so invest a moment or two in setting up a great comparison for your audience to make.
Demonstrate the evolution: consumer customization
If a product has evolved from standardized to highly customizable, this will show the value of CPQ for the 21st-century business later in your narrative.
‘Configure’: navigating the product catalog
Take it to the back-office and reveal the ins-and-outs of a classically complex product catalog.
The mind-reader: Guided Selling
Time to add in some wizardry. Show that CPQ can get predictive via recommendations, and how this is win-win for everyone: the rep gets the up-sell, and the customer will receive a more comprehensive offering.
Wow number 1 - Check.
‘Price’: instant maths
Add more complexity: Discounts
Discounts are great to add in - because everyone loves a bargain. When bringing in customer pain points, hit your audience where it hurts: their hard earned cash.
Wow number 2 - Check.
‘Quote’: one-click wonder!
Paint the big picture
Step away from your chosen example, and mention the industries that mirror the same process. If a single sales rep is both a) saving hours a week on administration, and b) increasing the value of every closed won deal - multiply that over hundreds of personnel, and you have phenomenal figures per organization. It becomes earth-shattering innovation.
Wow number 3 - Check.
In our opinion, this is the recipe of a compelling story; one that is relatable and logical. By the time you’re finished with your story, you may find that you have new-found CPQ evangelists: “CPQ is the future!”.
Enxoo Configure-Price-Quote is a heart of our Enxoo Commerce solution, created to streamline quote-to-cash for Telecoms. Wondering how CPQ could boost your business?