Sales executives are consumers as well—and as consumers, we know when we’re trying to be upsold on a product - and usually we don’t like it. Sales reps can be pushy sometimes, and that can be frustrating for consumers.
In fact, a NewVoiceMedia white paper says that 57% of people would be more likely to purchase from a sales rep that doesn’t try to pressure or hassle them when following up.
However, upselling and cross-selling are still important for maximizing revenue. For example, online retail giant Amazon attributes up to 35% of its revenue to cross-selling initiatives - namely the “Frequently Bought Together” and “Customers Who Bought This Item Also Bought” sections.
In addition, with the right tools in place, upselling and cross-selling can improve the customer experience. For companies that offer custom, built-to-order products, that tool can be Configure-Price-Quote, or CPQ software.
CPQ is a tool that streamlines business operations, reduces customer pain points and helps sales reps do their jobs better.
So, how can CPQ software turn upselling from a pushy sales tactic into a value added service? Here are just a few of the ways:
1. Upselling opportunities are actually built into the system.
CPQ software provides a place for all products and accessories to be housed together. As a sales rep develops an order or quote, the software automatically suggests other products and accessories. This means:
- Sales reps don’t need to spend time searching the company’s catalog for product information
- Sales reps don’t need to have in-depth knowledge of each product to get add-ons
- Sales reps can move away from pushing the products they’re most comfortable with, and instead find the best, most comprehensive solutions for their customers
2. Pricing information is available in real-time for every product.
CPQ software provides access to the most up-to-date pricing information, which allows sales reps to enhance their upselling service by:
- Offering more cost transparency to customers, helping to build a trusting relationship
- Showing add-on options at multiple price points to meet the customer’s needs
3. Quotes are generated more quickly and accurately.
In our experience, two of the most common customer complaints are incorrect quotes and the amount of time it takes to get a quote. With all products and prices available in real-time — along with the automated add-on suggestions — CPQ software helps sales reps avoid:
- Generating inaccurate quotes that lead to customer disappointment and frustration
- Lengthy research and legwork to generate an accurate quote in a timely fashion
- Missing out on add-on opportunities that would benefit the customer - as well as increase the total sale amount
CPQ software allows your sales reps to provide quality service while also getting the highest dollar amount for each sale. Since this is done organically, reps are able to seamlessly present solutions to customers - instead of pushing them to get something they may or may not need.
To learn more about how CPQ software can improve your upselling and cross-selling business tactics, contact us today.