Taking Companies Beyond the Sale - salesElement

Easy proposals and quotes

Taking Companies Beyond the Sale Combining Proposal and Quoting Software with CRM

Amit Davé, President T: 646.837.0767 x12 I F: 800.862.0442 I E: [email protected] I Follow us on Twitter: @salesElement

Taking Companies Beyond the Sale

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Proposal software and CRM: taking companies beyond the sale The sales process is about more than immediate revenue generation. It’s about launching and growing relationships over time, and to achieve that goal, your company needs to stand out from the pack and excel at your business. Proposal software, likewise, is not just a tool to fashion a strong proposal. Using the right programs in a way that gets the most out of your sales force can be the difference between consistent growth and a constant struggle with prospects, customers, and your own employees. Companies have the opportunity to avoid the struggle by upgrading their proposal process with technology that is simple, scalable, and promotes collaboration across sales, marketing, and legal teams. Of course, few companies make the decision to overhaul their processes without a significant event shaking up the organization. Whether it’s a complex issue like moving into a new market or a simple one like a proposal with inaccurate information that killed a deal, those that see trouble manifesting through their sales opportunities should evolve the process into an airtight asset that moves the company forward. This can help them achieve three critical goals as they grow: curbing revenue loss, retaining the best sales people, and avoiding mistakes that can cause legal setbacks. Such an airtight system ideally takes shape through a combination of Customer Relationship Management (CRM) systems and advanced proposal and quoting software. CRM is a proven, flexible tool that can improve collaboration between teams and put a wealth of data at their fingertips. It’s the “first port of call” for sales teams—the information they rely on most lives in the CRM system. The systems are easy to use, they organize complex information, help monitor business processes, and track prospects through the customer life-cycle. CRM cannot stand alone—it needs other applications to unlock its full value. Proposal and quoting software is a prime example: when married with CRM, the two combine to serve as a hub of information that drives faster, more accurate proposals. Conversations are logged and notes are readily available, helping sales teams and relationship managers operate with a full understanding of what was promised, what pricing strategy was laid out, and what kind of interest was shown in which products. Proposals are crafted based on this consistent communication and a historical record that details exactly what prospects are expecting and what customers are experiencing. With these elements in place, companies can more confidently address the three factors that should be top of mind whenever proposals are signed, sealed, and delivered:

Curbing revenue loss Sales teams are certainly focused on closing more deals, but they should also be thinking about preventing revenue loss. When proposals and quotes are drafted incorrectly, they can lead to refunds, disputes, or missed opportunities. Proposal software and CRM take the guesswork out of proposal drafting, allowing salespeople to quickly and confidently create documents that address the real issues that customers are facing. Pre-approved content can be stored centrally and used to auto-populate proposals, reducing content errors. When previously greenlit content must be changed to meet new terms, those edits are automatically sent back through the approval chain.

T: 646.837.0767 x12 I F: 800.862.0442 I E: [email protected] I Follow us on Twitter: @salesElement


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This way, the best content in an organization is used consistently. There is no hunting down old proposals, cover letters, and images, and embarrassing mistakes, like leaving the wrong name or services in the proposal, are eliminated. And slick, templated designs can add a professional look and feel that keeps the company’s brand front and center—which translates into greater brand recognition among prospects and customers. Brand identity and a clean visual representation of the material are critical to appealing to the emotional side of a prospect’s decision making process. According to business design author Mike Parkinson, “Study after study…has proven graphics have an immense influence over the audience’s perception of the subject matter and, by association, the presenter…The audience’s understanding of the presented material, opinion of the presented material and the presenter, and their emotional state are crucial factors in any decision.” To wit, 46 percent of participants in a study by the Stanford Persuasive Technology Lab pointed to design as the primary factor in determining credibility of the material.

Upgrade your proposal process with technology that promotes collaboration across teams.

Internally, an automated and well-oiled process that incorporates design, content, and customer needs not only reduces human error, it also speeds up turnaround time— another critical piece of closing business. Inc. magazine noted that according to a 2012 AskForensics survey, “the most common comments [among respondents] related to promptness, responsiveness and meeting time commitments. If you are late or slow in the selling process, customers expect you will be worse when you get the contract.” Finally, a CRM and proposal software system enables teams to engage the full life-cycle of a deal, from prospect to close to relationship-sustainability—and nothing promotes stable revenue better than mutually beneficial, long-term agreements. Companies hold onto customers longer when they have a better understanding of what was sold, what needs have arisen, and how to quickly address them through tailored proposals as the relationship expands.

Retaining top sales talent Customer relationships are the heart of any business, but most CEOs agree that employees are the soul. Creating a culture that attracts and retains the best of the best is one of the hardest achievements in business, especially when it comes to salespeople who can be lured by high commissions or more senior roles with competitors. Losing those people means losing their familiarity with the product, their contacts, and their proven ability to close deals. Strong salespeople often get dissatisfied when their core strength—selling—is limited due to operational distractions. Needing to relay information about prospects, help update proposals to reflect new circumstances, or chase down contact information takes them out of the sales game and makes other, more sophisticated employers seem appealing. Simply put, compensation packages and equity are the first lines of defense for keeping good talent, but giving them the tools to succeed makes a tremendous difference in their day-to-day lives. In fact, the less time they spend in the office chasing administrative issues, the more effective they can be.



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This is true across most roles and responsibilities—another reason that having universal access to highquality content and information is key. A comprehensive survey by Dell underscored this, finding that, “More than six in ten employees want to be ‘measured by the quality of the work they deliver’ (62%) rather than ‘time spent in the office’ (25%).” When there is turnover among salespeople, CRM and centralized proposal software also simplify the onboarding process for incoming employees. The rich history of every lead is easily accessible, making for a smooth transition that keeps relationships intact. Replacements also avoid awkward—and risky—visits to customer sites to “re-learn” that history and determine where the selling points are.

Limiting liability from contract breaches One of the most perilous areas of business—and perhaps the least addressed area for small- to mid-sized companies—is creating consistent, accurate customer agreements. “Any contract is a good contract” is a common mindset, but the truth is that hazy contract terms can sour relationships and contribute to lost business. A CRM and proposal process that minimizes errors and creates an easily traceable record limits that exposure. Something as simple as using the legal name for a customer (or the provider) can defuse potentially explosive situations. “This is a simple step that can save controversy in a lawsuit. Determine the correct legal name of your company and use it consistently in contracts,” notes Entrepreneur Magazine. “Otherwise it creates the opportunity for disputes, and the whole point of a contract is to avoid disputes and create rules for resolving controversies.” The naming example is an extreme case; however, an inefficient proposal process opens numerous doors for similar mistakes. When proposals are drafted using old content, or terms for the relationship are relayed incorrectly between teams, any range of errors can find their way into the final contract. If a relationship sours, those mistakes will come back to haunt the company. When CRM and proposal software are working together, teams are accessing the same information straight from the source. This serves as a crucial mechanism for feeding accurate language, customer details, and relationship terms into an agreement. Proposal software and CRM have come a long way, and they create a powerful combination for successful companies. CRM helps team members organize and communicate with one another, while proposals can be generated quickly with content that reflects a deep understanding of the relationship in play. As these tools evolve, they should no longer be thought of exclusively in terms of sales. When customized to fit the needs of a business, they can be sophisticated cross-functional tools that support teams for the full lifecycle of a deal—from prospect to close to relationship sustainability. To maximize the potential of your sales force and minimize lost opportunities, look to a combination of CRM and proposal software that can be optimized for your organization. i ii iii iv v

Do-It-Yourself Billion Dollar Business Graphics, Mike Parkinson, PepperLip, Inc., 2007 Ibid Three sales mistakes to avoid, Tom Searcy, Inc.com, April 14, 2012 The evolving workplace, report #2, Dell/Intel, 2011 Secrets to a successful business contract, Laura Plimpton, Entrepreneur.com, March 2007
