Use VARStreet sales quoting software to create attractive, winning quotes for your potential buyers.

What is a Sales Quotation?

A sales quotation, also known as a sale Quote, is a document that allows a potential buyer to view the cost involved in purchasing specific products or services. It is commonly used by resellers/suppliers to initiate a business transaction. A sales quote contains an itemized list of products and services specifying the prices and terms of sale and payment. It is created at the request of a prospective buyer who is interested in knowing the cost of certain products before making a purchase.

A sales quote is just a formal statement, hence cannot be termed as a legally binding contract. However, once the quote has been accepted, the customer is committed to making a purchase at the specified price.

Tips to Create Winning Quotes

As a reseller, here’s what you can do to create effective quotes:

• Understand Customer Needs

Before you actually start creating a quote, know what the customer exactly wants. Developing a quote without having a good understanding of customer needs can result in loss of sale. Before you ask for an initial meeting, browse through their websites, brochures, etc., to understand the nature and purpose of their business. When you are actually having a conversation with your customers, carefully listen to their needs, engage in dialogue and ensure that you cater to their requirements.

• Customize the Quote to Suit Customer Requirements

Customization is the key to making your customer feel valued, which can go a long way in strengthening business partnerships. Hence, follow a customer-centric approach when creating a sales quote. Once you have understood their needs, it is important to customize the quote that meets the requirements of their unique business. You can customize the quote by adding appropriate products, changing prices, discount levels, shipping options, images, etc.

• Include Appropriate Details – Neither More Nor Less

It goes without saying that your quote has to be properly constructed, well-formatted and should stand-out from your competitor’s quotes. Although you are advised to include all the necessary details in the quote, ensure that your document is brief and to the point. Unnecessary elaborate or lengthy quotes are not desired. Keeping your quotes short will enable your customers to appreciate your quote and view its content clearly.

• Customize your Template

If you want to connect with your potential buyer and create a winning quote, it is important to customize your existing template to your specific buyer. Don’t just cut and copy the same template information on every quote. It should have your logo and look/feel in the background along with custom images. Every single quote you send should represent both your brand and his business. After viewing the quote, the buyer should feel as though the business relationship has already begun.

• Deliver on Time

Delivering the quote on time is critical to increasing your chances of winning the deal. Customers often request a quote from multiple suppliers, hence failing to send the quote on time will make you lose the deal to your competitors. Inability to send quotes quickly can also have a negative impact on your future dealings. So respond to quote requests at the earliest to get your offer noticed and maximize sales.

• Include a Call to Action

A compelling and effective sales quote is incomplete without a powerful call to action (CTA) that nudges potential buyers to convert. A CTA states what it wants customers to do. It gives your customers a very specific instruction such as ‘Click Here to Confirm the Quote’. Effective CTAs can bring you one step closer to seal the deal.

• Give Customers Options

Multiple options within a quote provide an excellent opportunity to close a deal quickly. Many times, customers are not sure about product quantity they want to purchase. In such a scenario, instead of sending a non-editable document in PDF format, it is always better to send an interactive quote that provides options to create a unique personal experience.

You can include dropdown menus in the quote so that your customers can select the product quantity and other options they need. Prices should adjust automatically depending upon the product quantity selected. Also, when you provide a sense of optionality, it will dissuade customers from contacting your competitors for other alternative options.

• Include Digital Signature Options

If you are still faxing or scanning quote document to obtain your customer’s signature for approval, you can save a lot of time by using digital signatures. A digital signature is a type of electronic signature that provides an easy way for customers to accept a quote anywhere, anytime. Digital signatures eliminate the paperwork required to approve a quote, thereby helping to close a faster. So implement a digital signature technology into your quotes for faster conversions.

• Embed Payment Feature

After your customer has accepted the quote, making payments shouldn’t be a struggle. Multiple steps to reach payment details page can frustrate the customer to no end, which can have a negative impact on conversions.

For faster and easier conversions, ensure that a payment feature is embedded into your sales quote. For instance, you can include a link in the quote that allows your customers to directly access the payment details page. A better option is to allow them to enter credit card number to complete the process. This will enable them to make payment on the spot without any delay and close the deal quickly.

• Use a Sales Quoting Software

Manual methods of quoting are time-consuming and error-prone, rendering your sales team inefficient. Make your quoting process effortless and fast by using an appropriate Sales Quoting Software like VARStreet.

With a quoting tool, your organization can respond to a large number of quotes in the minimum amount of time. The software application comes with a wide range of professional templates that will allow you to create intuitive and attractive sales quotes in minutes.

Usage of sales quoting software has shown to increase productivity, maximize margins and boost customer satisfaction. Hence by incorporating a quoting application into your business organization, you can definitely accelerate your sales cycle, create winning quotes and close deals faster.

• Follow Up

A follow up is an integral part of the sales process and omitting it means missed opportunity for conversion. It is one of the strongest ‘pushes’ that can help you to convert a quote into a sale. A follow up is all about convincing your buyers that your quote is the right one and create a sense of urgency for buying. After you have sent your quote, follow up within 2-3 days and inquire whether the buyer has any issues with the quote. It’s a good way to stay on their radar and increase your chances of sealing the deal.

Learn More About Sales Quotation:

• 84 Motivational Sales Quotes to Inspire your Sales Team in 2018
• Sales Quotation Best Practices To Create Phenomenal Conversions

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