+46%
more subscriptions sold
+25%
faster accounting
+17%
higher revenue
Insight.
Politico, an American political journalism company based in Arlington County, Virginia, that covers politics and policy in the United States and internationally, needed to simplify how its customized subscriptions can be bought and sold and boost renewals.
Idea.
Politico’s sales and management teams worked with Bluewolf to implement Salesforce Configure-Price-Quote (CPQ) with a custom quote object to automate the entire subscription sales process–from creating product subscription packages, through pricing and approvals, to renewals. The completed quote subsequently synced with billing and accounting to automatically generate an invoice.
Impact.
Politico’s streamlined sales and approvals process that standardizes price quotes and helps with order management boosts subscriptions by 46% for its 14 unique offerings.
Average revenue contribution increased by 17% in the six months following the rollout of Politico’s CPQ solution. An accurate view of the sales pipeline helps eliminate the bottlenecks that used to delay new subscriptions and makes it easier for readers to renew year-after-year.
The sales and management team have a price catalog and rules for discount thresholds that speed up the subscription sales process with quality assurance and efficiency, so accounting is completed 25% faster.
New York