CPQ and the sales cycle

- [Instructor] Let's talk about your sales team…and how they manage their Sales Cycle…and how CPQ fits into that process.…Your sales process starts with talking to your customers…and it ends when you present your customers…with a proposal and they sign off on it.…CPQ works with the last,…and most important part of the sales process,…which is finalizing the terms and pricing.…CPQ stands for Configurative Price Quote.…So, we can think about it like this;…configure: What products are involved?…Price: How much do these products cost?…And Quote: How do we charge for this specific…combination of products?…So, let's walk through each of these areas.…

C is for Configure.…CPQ uses a process call guided selling so that they will…walk your sales team through some questions…to help them configure the quote for their customer.…You start by answering a few simple questions…about your customer and what they're looking for.…Are they a commercial, government, or academic institution?…Based on how you answer these questions…you will see a specific list of products…