When a Sales rep offers a deal to a customer, it starts all with a quotation and that quotation my friend is the main pillar of the sales deal. Today we will talk about how a sales rep or an organization itself can make profit with the help of a beautiful feature we have in Salesforce CPQ solutions.
Multidimension seems so overwhelming at first when one reads it & it might feel like one is talking about some science fiction topic. However, it’s just we are breaking a subscription into smaller time intervals to treat each interval differently as per the customer need. This breaking of a larger segment into smaller one is what gives you profit, and everybody wants profit in their business and this what we are here for.
Let’s get started…
For example, as a sales rep you might have 3 years of subscription and you wanted to discount only the first year or maybe you change the subscription in the last year. We like this flexibility as salespeople because we know that those customers who starts small are willing to commit longer and increase their service over the time.
Let’s start by making one MDQ (Multidimension Quoting) subscription together to see how it works and how it will do amazing wonders for businesses!
Not a typical One-Dimensional deal
Imagine you have a $30 monthly subscription product, Virtual meeting license product that you want to sell yearly so sales rep can increase the number of licenses in the second year or so.
- By going through products tab under Salesforce, you can create a dimensions name field as Yearly ramps and now you will see CPQ already splits the overall subscription length into yearly segments.
- That’s it. Now your Virtual meeting license supports MDQ and will make thing different when added to a quote.
- With the help of Quote line editor under quotes section, you will see an interface like below image and will make the 24 months subscriptions term prices different for two different years.
Proposal Options
So, we know by now that Multidimensional quoting allows sales reps to put more information in a subscription over its duration. And to be transparent, it’s important that your customer can see those MDQ (Multidimensional quoting) details when they receive a proposal from you.
Salesforce CPQ solutions gives you three ways to present MDQ subscriptions to your customers.
- It makes the multiple quote lines like any other, so they appear as rows in the line items in tabular form.
- You can make CPQ to put all MDQ subscriptions into their own specially made table, with a row for each segment, along with a summary row. This is a great opportunity for MDQ subscriptions with many segments, like if you sell quarterly segments over several years.
- You can have CPQ made a special table for each MDQ subscription.
MDQ or not?
Its great that now we can sell the licenses in yearly segments, but what if a certain year your quote doesn’t need special treatment?
In that case, it’s possible to convert a MDQ subscription into a normal one by just clicking a button.
Just go to quotes section and under edit lines you can see that magic wand icon, click on it and poof… it’s the old subscription. To summarize it, MDQ or Multidimensional Quoting is very useful when your sales rep has a detailed control over pricing specific interval of time within one subscription. And this will make you’re your complex deals configure on a faster scale.
For detailed information I would like you to suggest the Trailhead and Salesforce help.