Revenue, and especially revenue that is trending upwards, is a clear indicator of an organization’s health and potential. However, responding to fluid market shifts and staying abreast of technology advancements can pose the huge challenge to this consistent revenue growth if not adopted correctly. Organizations globally are struggling hard to streamline their sales cycle and accelerate revenue growth in today’s post-covid business landscape. And, many new technology choices are begging for attention with claims of improving work output and revenue. But, how to discern the right one for your particular organization?
Salesforce Revenue Cloud should be high on your list of considerations. With a proven track record and enormous following, it is a suite of Salesforce products that help you manage and improve your sales, operations, and finance, with the resulting surge of productivity in your workflow.
Let’s see how Revenue Cloud solves some of the common sales, sales operations, and finance pain points.
Pain Point: Lengthy Sales Cycle
Reducing the time for lead conversion is the key factor to winning deals and amplifying your revenue growth. So, when a prospect expresses an interest in your service/product, it’s important for your sales team to promise them a shortened sales cycle to close deals quicker.
Solution: Salesforce Revenue Cloud helps your reps to accelerate the lead-to-quote process with the help of Salesforce CPQ. It enables your reps to automate quote generation, keep product catalogs updated for streamlined pricing, and provides frictionless buying experience.
Pain Point: Complex Product Bundling
Companies do understand the importance and power of product bundling as a strategy for driving sales. When a product or service is incorrectly added to a bundle, it creates confusion among your teams, and in the end, your loyalty among customers suffers.
Solution: With Salesforce Revenue Cloud, your reps can easily bundle thousands of products and services for your customers within seconds, without having to check twice. CPQ offers high accuracy and the ability to pick products from a catalog and bundle them effectively.
Pain Point: Lengthy Product Adoption Periods
Increasing your product adoption is easy and encourages your customer to detect new business values, but you’ll have to handle the heavy-lifting to achieve consistent success. As the product adoption metrics increases, the rate of recurring users decreases. So a proper adoption strategy ticks all the boxes in the adoption rate metrics.
Solution: Revenue Cloud has a guided selling feature that supports your sales reps throughout the sales process and helps them close deals with great accuracy. This shortens the training period and enhances adoption.
Pain Point: A Complex Discount Approval system
Most of the businesses require a long discount approval process right from initial approval of the quotes from the sales manager to final approvals from the finance team. And this lengthy approval process results in extending your sales cycle and delaying the deal closure.
Solution: The discount approval system of CPQ helps the sales team to keep the discounts under control and maintain a desired profit margin. The approval process is automated for simplified and faster quoting.
Pain Point: Lack of Sales Insights
A manual or traditional route to the CPQ process leads to missing out on key customer data and sales insights. Hence, it’s essential that your sales reps have access to data-driven insights to offer personalized services for your customers. Knowing your customer’s intent is paramount.
Solution: Revenue Cloud provides your Sales team with deeper insights into your Sales and performance. This helps your reps to devise strategies and decide the next steps.
Pain Point: Defiance of Pricing Rules
When your business contains certain products that change in response to other products or services on the quote, the need for pricing rules increases. Inaccurate pricing rules may result in creating inappropriate or complex buying experience and also affects customer satisfaction.
Solution: The pricing and validation rules set by your organization should be strictly implemented by Revenue Cloud. It ensures that every sale made is validated accordingly.
Pain Point: Consumption of High Costs and Resources
Since the buyer behavior has lengthened the sales cycle, there is an increase in the operational costs and resources to meet the fluctuating customer requirements. And given the current situation, organizations can’t afford to spend more to streamline their sales cycle. This is where we need a sales automation tool that can take care of the entire quote-to-cash process.
Solution: Revenue Cloud lets your customers self-order products and provides them with self-service tools used for B2B commerce. This saves cost and resources that ultimately help you apply that time, money, and resources to other growth opportunities.
Pain Point: Accelerating Selling for Partners
When you link your sales reps directly to your partners, the selling process gets faster. Hence, it’s important that you have an automated lead routing process to ensure accelerated selling.
Solution: Salesforce PRM lets you customize guided selling for your partners to help them accelerate sales. For example, they can access product information and sales incentives, enabling them to boost their performance.
Pain Point: Shortage of Repeat Customers
A recent survey reveals that 55% of an organization’s revenue comes from repeat customers. So, it’s essential to take critical action to provide your customers with a hassle-free and seamless experience throughout the sales cycle.
Solution: When your customers experience a smooth and frictionless buying experience, they tend to be more loyal and will gravitate consistently to your products and services regularly.
Revenue Cloud enhances the revenue growth in your organization and lets your team simplify the selling process. It covers sales, operations, and finance, making Revenue Cloud a one-stop solution, and enables your reps to get the most out of your sales model.