On the Par-5 15th hole at Augusta, Bubba Watson found himself left of the fairway, blocked by a small patch of pine trees. Maintaining a narrow lead on the final day of the Masters tournament, the decision on how to approach this next shot loomed large.
Turning to his caddy, Watson asked “What’s the smart shot?”
Without a moment’s hesitation, Ted Scott replied, “The smart shot is to hit it through that huge gap (in the trees) into the bunker (right of the green).” Watson took his caddy’s advice, and sure enough, the ball cleared the gap, and set him up to putt for par, and win his second Green Jacket in three years.
So What Does Bubba Watson Have to Do With Closing More Deals?
Your reps may not be at the Masters, but they sure could use a good caddy. With potentially millions of dollars on the line, there’s a tremendous amount of pressure for your reps to close bigger deals while maintaining margins, selling preferred product combinations, and meeting company deadlines. Without the help of good deal management software, supported by configure, price, quote (CPQ), it’s easy for your reps to get stuck in the cabbage.
Like a good caddy, CPQ with deal management software gives your reps the information they need to make better decisions when building a quote for a deal. CPQ makes complex catalog knowledge, up-to-date market conditions, and upsell and cross-sell opportunities available in real-time, so reps can configure more profitable deals, offer margin-friendly pricing, discount, and contract terms, and keep the sales cycle moving at a rapid pace. With the added benefit of built-in deal management, your business rules can be used as a guideline for building better quotes, or as a hard line in the sand that prohibits deals from moving forward unless they meet current business policies and requirements.
As Forrester Senior Analyst and Sales Enablement expert, Mark Lindwall, wrote in his post Key Learnings from the Sales Enablement Forum, “To truly transform sales performance, overcome the challenges of this new economy, win new customers, and elevate value for business stakeholders, a new 21st century selling system is the only way forward.”
Why Sales Reps Love Deal Management
When reps want to price or discount deals, they’re making decisions from a limited vantage point. With automated deal management, they have a full perspective. Visual indicators help them easily see how their deal ranks against established parameters, receive recommendations for improvement, and gain insight on how their adjustments will impact the approval process. As a result they are able to shorten sales cycles, drive more revenue, and focus on closing deals, which is a hole-in-one for any company.