What comes to your mind when we say business quotation or proposal?
As any business owner, you might instantly think of a document that provides the pricing structure of different services. But let us tell you that your business quote or proposal is more than that!
Sure, some customers just want to find the cheapest option available in the market. But if you know your target audience recognizes and appreciates quality, value, and worth, they expect a little more than just price in a business quote or proposal.
So, how do you modify your existing business quotation or proposal in a way that generates more leads and increases your conversion rates?
Here are 10 tips to help you take your business quotation or proposal up a notch.
Tip 1: Provide Critical Details
Most times, you might provide a business quote or proposal to an individual customer. However, you might find a chance to provide it for a grant or a governmental tender. And you wouldn’t want to miss out on such a business opportunity just because you didn’t have enough details on your business quote.
Hence, you must modify your existing quote and include critical details. For example, your quote must have the ABN (Australian Business Number), your business address, and your business name. Remember, your trade name and trading entity might have different names. It would be beneficial to have them both on the business quote. Provide a quotation number and date of issue. And don’t forget to provide your business contact just in case a customer wants to ring you and clarify some doubts.
Tip 2: Choose a Template
As an active business, you will frequently be giving out quotes to your customers. Hence, choosing a template will be highly beneficial.
Create a business quote accurately in the first go and keep using it further. All you need to do is change a few details, such as the date of issue, quote number, services, and pricing structure. Once you have a quote template, it is a matter of just filling out information. Things like your business address, contact information, and trade name will stay the same.
Tip 3: Provide Minute Details
Apart from business information, the most important thing on a quote is the pricing structure for the said services. Now, depending on the product or service you sell, this information may vary.
For example, if you provide products like printers or cartridges, having the model number and name along with the price will suffice (three to four lines). However, if you sell a product or service worth $50K or a million-dollar project, you need to provide more than just the price.
You have to provide minute details about the product, service, or project to ensure the client understands that doing business with you is worth every penny.
Tip 4: Make Your Business Quote Aesthetically Pleasing
If you didn’t know this already, your business quote or proposal is a marketing document. Hence, making it aesthetically pleasing will play in your favor. Brand name and logo will always be a part of your business quote. However, you can also add some more information.
For example, apart from adding crucial text, you can also break the monotony with some awesome images. These images can be of your product or the project you provided services for. If you are the face of your business, as is with most small businesses, provide your corporate picture on the quote.
Tip 5: Remind the Customer Why They Should Choose You
A business proposal or quote offers you a chance to remind the customer why they should choose you over your competition. Provide information like your business is insured, licensed, specializes in providing a certain service, has years of experience, and more.
You can also provide information regarding any awards your business has won, any guarantee or warranty you provide, critical collaboration with industry experts, and more.
Any information that provides credibility to your business and reinforces that you are the best choice over your competition will be beneficial in the quote.
Tip 6: Use Concise English
You might be tempted to use industry-specific words or acronyms to sound expert on your business quote or proposal. However, remember your customer might not be proficient in the understanding industry-specific language. Hence, use simple and concise English understandable by a layman.
You must use an easy-to-read font style and font size. Format the text efficiently. Usually, dot points are the best choice to lay out the information easily.
Tip 7: Provide Customer Testimonials
A customer will most definitely ask you for former client references, reviews, and testimonials. Why not provide it even before it is asked?
Providing rave reviews and testimonials can help convince the customer of how great you are at delivering the products and services. Also, the best thing about reviews and testimonials is that your former customers highlight your good qualities and ability to deliver a certain product and service.
This helps you build confidence and trust with your new customers.
Tip 8: Provide a CTA (Call-to-action)
This goes without saying! You must always provide a call-to-action (CTA) with your business proposal or quotes. This makes it easier for your customers to connect with you and hire you for the products and services.
If you don’t provide a CTA, people assume you will do a follow-up call. But what if you don’t, in that case, having a CTA in the quote provides the customer a chance to get the ball rolling.
Tip 9: Provide Terms and Conditions (T&Cs)
Don’t forget to provide terms and conditions in your business quote or proposal. You want your customers to know the legal side of hiring you for a service. This is done in the best interest of customers.
While putting terms and conditions on the quote, don’t make it sound too legal and harsh. Use soft phrases like “we require”, “we ask”, instead of harsh words like “we demand” or “we expect”. You don’t want your customers to feel threatened by the legal side.
Tip 10: Proofread Your Quote
Before you send out the quote to your clients or governmental body, proofread it. Check the spelling and math. Make sure it’s right.
Whether spellings are your strong suit or not, get someone else to review and proofread the quote or proposal. Chances are they will be able to spot a few mistakes you might have missed out on.
Wrap It Up
Business proposals or quotes are essential marketing documents for your business. A striking business proposal or quote can help your business stand out amongst the competition and attract the attention of the target audience. Hence, working on building an effective business proposal or quote can be beneficial.
If you need assistance or training on developing business proposals or quotes that make an impression, contact us at Keystone Executive Coaching. We work with businesses of all industrial sectors and help them improve critical business functions for generating leads and increasing conversion rates.