When tracking return on investment (ROI) on your digital transformation, the word creative usually doesn’t come to mind.
Words like logical and calculated would be more common. But just because you’re looking for hard data and quantitative proof that your digital transformation is working, it doesn’t mean you have to follow basic ROI calculations – especially if you’re quantifying your Salesforce CPQ investment.
To impress the C-Suite and rebuff any skeptics, take note of these five creative strategies that not only measure your CPQ ROI, but generate key performance indicators that showcase the true value of your digital transformation and your decision.
Start with an adoption strategy
Without end-user adoption it can be difficult to classify a digital transformation as a success. And as our Simplus Change Management Lead Eloise Roberts explains, adoption isn’t about the technology, it’s about the people.
“If you want people using the new tech to full effect on the go-live day and not two years after implantation, you need a strategy for how that’s going to happen.”
End-user adoption will serve as one of your earliest and most powerful KPIs, so put a change management strategy in place to help others adapt to your new CPQ system. And then start tracking that adoption!
Lookout for errors
We say lookout for them because it will be a shock when you find them. A key benefit of a CPQ system is it streamlines and automates the quoting process and reduces the chances of the copy-and-paste error we’re all guilty of.
With an average 42% reduction of pricing errors in quotes after implementing CPQ, tracking your reduction in error rates is a creative way to show how CPQ helps curb lost revenue and sales opportunities.
More time selling, less time on administration
Any system investment that makes teams more efficient and increases general productivity is music to the C-Suite’s ears. With CPQ designed to unify the end-to-end sales process and automate time consuming jobs like quoting, invoicing and billing, your executives should be made aware of how much CPQ reduces administrative tasks.
When employees are spending less time on complex, labor-intensive processes, their time is freed up to focus on building relationships with customers and providing exceptional customer service.
Demonstrates the benefits of artificial intelligence
With artificial intelligence built into the CPQ platform, the ROI businesses receive is much more than saving time. With AI’s ability to suggest cross-selling and upselling opportunities to customers, as well as automating the process of configuring optimal product bundles, the C-Suite should made aware of these benefits.
In this situation, the saying “show, don’t tell” runs true. Show how CPQ and AI has helped in increasing the size of contracts and land new customers and accounts.
Get feedback from your employees and customers
There’s nothing more powerful than testimonials, whether your pitching for new work or sharing success stories. Once employees adapt to Salesforce CPQ, they’ll quickly realise they are spending less time on laborious manual tasks. When that moment occurs, ask them for a testimonial and how the CPQ system has improved their workflow and productivity.
Furthermore, customers will begin to have overwhelmingly positive interactions with your company as they get the information, offers, and updates they want in an efficient, frictionless manner. Record any feedback teams receive from their customers and have ready to reference at your next boardroom meeting.
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