In the dynamic Telco market, the ability to quickly launch new type of offering is essential. Telecommunication companies are launching new products going into more of converged offering adding commodities and tech products to their portfolio. They have the infrastructure which could support such services in their offer and make them market leaders, but issue was always the time to market and market acceptance.
The Configure, Price, Quote (CPQ) solutions have emerged as a tools, to help them on their path, revolutionizing the way Telco companies bring their offerings to market. From product management and marketing ideas to implementation and handover to the sales force, an efficient product launch process is crucial for achieving maximum market results and what is even more important test how the market will react to the new offer.
In this article, you will explore common problems faced in Telco product launch activities and reveal strategies to streamline the process using CPQ solutions. With a focus on Configure, Price, Quote solutions, you will discover how Telco companies can empower their sales force and accelerate time to market.
Simplifying configuration - A game-changer for telco product launches
Telco product launches often face challenges in configuring new offers quickly and accurately and distributing new portfolio to whole salesforce sales force including new products, prices, and rules. Without a user-friendly CPQ solution, valuable time is wasted on manual processes, excels and discontinued processes, slowing down time to market. CPQ solutions enable Telco product management teams with a tool for streamlined configuration, enabling creation of quick and error-free portfolio offers available instantly for all sales-reps. This process brings faster time to market and a competitive edge in the industry.
With a no-code CPQ solution, product management teams can configure new offers and products themselves thus eliminating dependency upon external IT teams. It reduces cost of launch, minimizes delays, and enables sales teams to respond quickly to competitive market portfolios. With the ability to quickly adapt to market trends and customer needs, CSPs marketing and product teams can seize opportunities and stay one step ahead of the competition.
Accelerating implementation: overcoming resting and long cycles
Product underperformance on the market or commercial failure combined with long implementation cycles can significantly impact revenues. By adopting agile methodologies and embracing iterative development and involving end-users in the product market acceptance phase, Telco companies can gather valuable feedback directly from the target audience, make necessary adjustments and improvements to the product, and shorten the implementation process thus coming up with targeted offer and shorter implementation period. With a no-code CPQ tool Telco marketing and sales teams together can easily create, manage, and test such an offer on their friendly customers and win the market race by targeting better and saving more.
Bridging the gap between teams
Disconnection between product management, marketing and sales force can disrupt effective product launches. Lack of communication and collaboration can result in misalignment and missed opportunities. CPQ solution offers an integrated platform that enables collaboration and communication among these teams. By streamlining workflows and providing real-time access to product information and pricing details, CPQ tools bridge the gap between teams, ensuring alignment and synergy throughout the product launch journey.
Monitoring sales proposals and gathering feedback
Without a proper tool to monitor sales proposals, quotes and gathering insights on those, Telco companies may miss crucial information into the success of their product reach and sales strategies. CPQ solution empowers Telco companies with real time insights in sales proposals, tracks customer responses, and captures feedback from the sales force and the market. This approach enables informed decision-making, enabling companies to optimize their sales strategies, product portfolio properties and prices and maximize market results.
The challenge of educating sales teams on portfolio changes
Educating sales force on new portfolio and offering can often be a time-consuming task with many errors. CPQ enables real-time updates of portfolio available to your sales force and ability to test the value proposition, CPQ solution ensures that sales teams have guided sales within user interface thus leading to promotion of new offers effectively on the market.
Wrap-up: streamlining telco product launch for success
Achieving fast time to market with targeted offer accepted by the market in Telco industry is essential for success. By embracing CPQ solutions, Telco companies can streamline their product launch processes and empower their sales force. With tools for simple configuration, agile methodologies for testing and implementing, improved collaboration between teams, real-time insights into sales proposals, and real-time portfolio updates, CPQ solutions enhance efficiency and effectiveness of all your product launch and sales teams.
So, embrace CPQ solutions to revolutionize your Telco product launches, leading your company ahead in the race for market dominance.
