Quoting Success: More Than Just a Formula.

 

Quoting has long been considered the most important component in the formula for success, but what an organization really has to put into perspective is that a quote tells a well-formed story of a company - and should be sent out with diligent care.

Whether you’ve thought about it or not, your customer will scrutinise your sales quote and form an opinion, whether true or not, of you, your brand and your company. A quote should answer questions that your potential customer is asking themselves at every interaction they have with you. Does this supplier understand our business? Do they understand our goals, long term and short? Are they responsive, reliable? And the list goes on.

A great quote will elicit change, by helping your customer make a decision, and hopefully with the help of the quote, will win the sale. How do we lead the customer through the buying decision, and more importantly to choose us over our competitors through a quote?

A sales quote sent out to potential clients should stand out from the competition in several categories. A good sales quote is both accurate and easy to comprehend. This is critical, especially in markets that supply vastly complicated products and features. This transactional step ties up sales reps and technical staff in a back-and-forth discussion about what is realistically possible to deliver along with timeline and price questions that can cause long delays, taking up time, money, and customer concern that can ultimately change a customer’s mind. The time and effort it takes to correct and explain various portions of a poorly sent quote can have detrimental effects to your business. This is why it’s so important to have a well-crafted and correct quote the first time around.

A professional quote can not only strengthen your brand, save you time and effort, but also build rapport and trust with your potential clients.  The business savvy organization will look at the quotation process as a potential for not just a competitive edge, but a strong way to differentiate them from the competition.

Typically, a quote needs to be understood by a variety of people in an organization, many of whom have different job responsibilities.  A great quote will be understood by everyone involved in the decision-making process. It should answer any questions a customer is concerned with and have enough content included that it will clearly define your organization as an industry leader that understands what the business you are quoting is attempting to achieve, both long term and short term. If there is a need to have a technical drawing, demo, or relevant meeting after the quote is sent as a follow up, it shows the level of commitment as a future partner.

If your sales and solutions team can do the above, then more than likely you are at the top of the list of vendors to buy from and, equally as importantly, to trust. Removing concerns about the buying process and understanding their business situation is critical when trying to build a relationship.

What do your sales quotes say about your organization? Have you felt the buying cycle to be too long and complicated? We get it. Let us show you what our CPQ (Configure Price Quote) solution can do for your quoting process and brand.