An often-overlooked benefit of modern configure, price and quote (CPQ) tools is the ability to accurately communicate complex product configurations using visualization tools. As offers become more complex, adding visualizations can help keep all parties – internal and external – aligned on what is being sold and delivered. While many sales leaders rely on CPQ tools to improve the quoting and sales process, CPQ visualizations can help buyers quickly move to final product decisions and help engineering teams to accurately deliver what was sold.
It may sound cliché to say a picture is worth a thousand words, but it is often true in complex selling situations with multiple product configurations and iterations. When you consider that 65% of the population learn best from visual presentations, visualizations begin to appear vital to the success of any sale. Visual aids also improved retention from 10% to 65% over simply reading a presentation.
Visual representations of a product remove the ambiguity that even a feature spec list can create. If a customer can see and react to a visual of the final product, it’s far easier to understand exactly what they’re buying. It also helps enhance the impact of a sales pitch. Research from the University of Minnesota showed that presentations using visual aids were 43% more persuasive than those without. How much more revenue could you drive by being 43% more persuasive?
How you choose to visualize your product will depend upon the needs of your business and the intricacy of your sale. Depending on how you want to integrate your buyer into the final product, you may choose a different form of CPQ visualization. As products become more complex or expansive, you and your customer may benefit from increasingly complex models, all the way up to fully immersive digital representations of your products. Sometimes, however, a simple diagram of the product features will suffice. When it comes to CPQ, knowing how to visualize your product can be just as important as a well-structured quote.
Modern tools like Oracle CPQ Cloud give unprecedented insight into the quoting process, allowing both parties to fully realize how the end products will arrive. But turning visual sales into a reality takes strategic thinking. We can help you determine how to enhance the CPQ process to empower your sales staff and partners deliver the best customer experience possible. Oracle CPQ Cloud leverages a number of leading-edge partners to deliver a wide range of visualization options to fit any selling circumstance, from 2D drawings to immersive, complex AR and VR applications.