Salesforce CPQ Basics Flashcards
What is the role of Salesforce CPQ in the sales cycle?
- Configure what the client needs to buy
- Prices are calculated automatically for client’s products
- Quote is created which is a nice, consistent pdf
What are the inefficiencies common to legacy sales processes?
- Quotes are produced by hand and prices/products may show up inconsistent on the quote
- Client waits for a quote that may be inaccurate
- Business tells you to fix any discrepancies on prices/products if it arises
How does Salesforce CPQ addresses sales team pain points?
- Creates a consistent, accurate, and efficient process
List two meanings of the word quote in Salesforce CPQ.
- A pdf document that includes contact info of you and client, table of pricing for goods/services with grand total, and dates/signatures
- An electronic record that includes the expiration date and grand total and information on each product from the quote like discount percent and net amount
How does the Salesforce CPQ quote relate to opportunities and products in Salesforce?
There can be multiple quotes under one opportunity and multiple products under one quote.
This allows sales teams to present conservative/decked out quotes to clients
What are sale details that are common to most quotes?
- Products
- Cost of products
- Grand total of quote
What is the role of a primary quote?
The total amount and products of this quote is reflected onto the opportunity.
How are products added to a quote?
Products are added from existing Salesforce products
How does good product selection helps salespeople create viable quotes?
Allows you to create quotes efficiently the first time by choosing products that meets your clients requirements and combines products that require another to function
What are the three main ways Salesforce CPQ facilitates product selection?
- Creates a list of active products
- Customizable filters
- Products can be grouped by categories
What is the user experience when using guided selling?
- User adds products to quote
- User answers a series of questions
- CPQ suggest products
- CPQ may ask follow-up questions
- CPQ continues to dynamically suggest products
What are the important qualities of a bundle?
- Groups up products that require one another
- Reminds sales team of potential up-sales and future optional purchases
- Prevents invalid combinations which means less errors
How do businesses benefit from the Salesforce CPQ pricing calculator?
Provides accurate pricing at all times
When is the Salesforce CPQ pricing calculator used when you quote?
As soon as a product is added to the quote
What are the common pricing requirements you can meet with out-of-the-box Salesforce CPQ?
Contracted Pricing - a business gets special pricing for products
Cost Plus Markup Pricing - cost of the product plus whatever markup sales team wants
Block Pricing - when client buys a certain quantity they get a certain rate for that product
What are the advantages of using a Quote PDF generator?
Provides clients a summary/details of products/services that they want, breakdown of prices and totals of items, a way to sign electronically
Provides businesses a quick sales process
What is the common content included in a Quote PDF?
- List of products/services that are being quoted
- Prices/discounts on those items
- Totals/subtotals of prices/discounts
- Important terms and conditions
- Signature blocks
How does a single dynamic template result in the perfect Quote PDF?
Provides whatever the client or business wants to see on the quote and can be changed on the fly
How does Salesforce CPQ handle quote distribution?
Document is stored in the quote and opportunity and can be shared to client with a click of a button that will send the quote via email
How are contracts and Salesforce CPQ quotes related?
Contracts include products that you’re customer needs via subscription or what needs to be renewed later on
How can you amend contracts with Salesforce CPQ?
Salesforce CPQ creates a new quote and opportunity and the price of subscriptions are reflected with how much time is left on the contract
How does Salesforce CPQ automate renewal opportunities and quotes?
By creating a new opportunity and quote before the contract ends that reflects updated pricing and any subscription based products onto the quote
What are the advantages of contract and renewal automation?
Quickly sets up a new quote for a client with whatever products/subscriptions they need with the most up to date pricing
