Every successful company must balance the cost of marketing and sales with how much customers those efforts bring them. In other words, you need to calculate your Customer Acquisition Cost (CAC) and determine the best option for you. CAC is the total cost of marketing and sales efforts used to acquire a new customer. The goal is to keep the CAC as low as possible without compromising your sales and marketing strategy.
The sales process is a complex matter that can vary from industry to industry and from company to company. It is hard to create one solution that will be a perfect fit for everybody. However, some similarities can be found in most companies, and we can identify some comparable patterns and processes.
Maybe, you are thinking about upgrading your business by implementing CPQ software. But is it worth it? What about ROI? Spoiler alert - it is worth it! But let's take a look at how to calculate your Return on Investment (ROI).
Seling is not an easy job, and it certainly requires time, dedication, and focus. Using CPQ, the company can quickly provide accurate and highly configured quotes while making all the complex pricing, product, and business rules centralized, automatic, and available in real-time.
If you have come to the point where your product offering has grown, you're most likely to use CPQ software. When your company offers a broad range of products or services, managing product pricing can be (and probably will be) challenging.
Businesses that invest in customer experience witness a significant increase in cross-selling and up-selling opportunities, as well as in customer retention.