Today’s business buyers expect a streamlined, digital purchase experience. If you’re still using manual processes to create and send quotes, you’re likely losing out on sales. A product configurator can help you automate the quoting process, making it easier and faster for your sales team to close deals.
Product configurators are software applications that allow users to configure products or services to meet their specific needs. By automating the quoting process with a product configurator, you can quickly generate accurate quotes that reflect each customer’s unique requirements.
Here’s everything you need to know about using a product configurator to automate your B2B quoting process.
What is a product configurator?
A product configurator is a software application that enables businesses to create customized quotes for their products and services. By inputting key information about the product or service being offered, the configurator can generate a tailored quote that considers the customer’s specific needs.
Product configurators are excellent for B2B companies that offer complex products or services. By automating the quoting process, businesses can save time and resources while providing their customers with accurate, personalized quotes.
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Benefits of using a product configurator
A product configurator offers several benefits for businesses, including:
Faster quote turnaround
Customers today expect a quick and easy purchase experience. They don’t want to wait days or weeks to receive a quote. In this case, it’s up to businesses to provide a fast and efficient quoting process.
A product configurator can help businesses speed up their quote turnaround times by automating the process. When customers have already designed their product or service using the configurator, all that’s left for the business to do is generate the quote. This can be done in a matter of minutes, allowing businesses to close deals faster.
Increased accuracy
When quotes are generated manually, there’s always a risk of human error. This can lead to inaccurate quotes that don’t reflect the true cost of the product or service.
A product configurator eliminates this risk by automatically generating accurate and up-to-date quotes. This ensures that customers receive an accurate quote the first time, every time. For example, if the price of a product changes, the configurator will automatically update the quote to reflect the new price.
Improved customer satisfaction
Personalized, accurate quotes lead to happier customers. If they receive a quote that doesn’t reflect their needs or budget, they’re likely to be disappointed and may even look elsewhere for a better deal.
On the other hand, if they receive a quote tailored to their specific needs, they’re more likely to be satisfied with the purchase. A product configurator can help businesses create quotes tailored to each customer, leading to improved customer satisfaction. It can also help businesses upsell and cross-sell by suggesting additional products or services that the customer may be interested in.
Better conversion rates
When customers are satisfied with the quoting process, they’re more likely to convert into paying customers. The higher conversion is a result of both the improved customer satisfaction and the faster quote turnaround time.
A product configurator can help businesses increase their conversion rates by automating the quoting process and creating personalized quotes tailored to each customer’s needs. For example, if a customer is interested in purchasing a product but isn’t sure which model to choose, the configurator can suggest different models that meet their needs. This helps businesses close more deals and grow their revenue.
Lowered costs
Manually generating quotes can be time-consuming and expensive. Businesses need to dedicate staff members to the task, and they may even need to outsource it to a third-party company.
A product configurator can help businesses save money by automating the quoting process. By using a configurator, companies can generate quotes quickly and efficiently, without the need for extra staff or outsourcing.
Tips for using a product configurator
When you’re using a CPQ for a B2B business, there are a few things to keep in mind:
- Ensure that the configurator is easy to use: Your customers should be able to design their product or service using the configurator easily. They’re likely to give up and look elsewhere if it’s too difficult to use.
- Make sure that the configurator is accurate: The configurator should generate accurate quotes that reflect the true cost of the product or service. This will ensure that your customers are satisfied with their purchases.
- Ensure that the configurator is up-to-date: The configurator should be regularly updated to reflect any changes in pricing or product availability. This will ensure that your customers always receive accurate quotes.
- Offer customer support: If your customers have any questions about using the configurator, ensure that you offer customer support. This will help them use the configurator more effectively and be satisfied with their purchase.
Start automating your B2B quotes
CPQs are a valuable tool for any B2B business. By automating the quoting process, they can help businesses save time and money. They can also improve customer satisfaction by creating personalized quotes that cater to each customer’s needs.
When using a CPQ, it’s important to keep a few tips, such as ensuring that the configurator is easy to use and accurate. By following these tips, you can make the most out of a configurator and grow your business.
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