Improving Quote creation To Quote Acceptance Rate

August 04, 2017 Topics :

With more companies adopting innovative tools, the speed and efficiency of the quoting process is dramatically improved. Certainly, this leaves quote creation and acceptance as the prime focus to drive further improvements in sales processes.

You are reading this means you want to turn your quote into business. Almost every VAR business aspires to succeed. How price quotes are prepared and created can cost you business. So, how to stack the odds of winning in your favor? Making some small changes could mean a huge difference to your VAR business.

Let us have a look at some of the effective ways to improve quote creation and quote acceptance rate.

Quote creation to approval rate

  • Make sure that your sales quotes are aptly constructed

A sales quote/price quote is the first impression of your business and should portray a little bit about your business to the prospects. A simple yet clear quote reduces the back and forth efforts and increases the chance of a sale the first time. Leverage sales quoting software to standardize documents and drive document creation.

  • Get help! Have someone in the organization that will do analysis job on sales quotation Process

As a busy business owner, (and I know you are) you have numerous responsibilities to accomplish, and it might be hard for you to spare the time for long and complicated quotes and the attention it deserves. What can you do? Be smart and hand over the business processes reigns to someone capable. This person may be an employee or business partner, or you can even hire someone explicitly- quotes manager- for this important responsibility of handling the process from start to end. This person will majorly focus on how many quotes are created? How many get revised? How many are rejected? What can we do to improve ratio?  As the tasks associated with quotes will be handled by the person, you are free to focus on each thing else that needs to be done. Depending on your business type, requirement and complexity of quotes, you can go a step further and hire a sales quote team to work with the sales quote manager to accomplish the job.

  • Use the right type of sales quotation tool

sales quotation

If you are single employee company or large company, choosing appropriate tool to handle all type of your requirements is of utmost importance. No matter if you are writing your quotes or having someone do it for you, the right tools are must to get the job done efficiently. Considering the rushed quote creation process, it is indeed a smart move to use tools that efficiently let you create, store and manage the quote creation process and you can have better insights into sales pipeline and performance. Various tools including quote creation app, sales quoting software come in handy and help you make a massive difference in your rate of accepted quotes. You just need to think about your business needs and choose tools wisely to maximize the benefit. Look for the best sales quote solution that fits your business needs.

  • Understand customer requirement very well

It is important to intensify your customer focus. The most effective quote is the one that directly speaks to your customer’s needs and goals. And hence great emphasis should be on understanding and relating customers in terms that are meaningful to them.

  1. Know your customer
  2. Make your quotes simple, concise and clear.
  3. Make it action oriented – Give an option of acceptance of quote (button)
  4. Make the content in your quote completely relevant to your intended audience.
  5. It should sound like the right response to your client’s needs.

Certainly, your business quotes are a necessary part of your business success equation. Quoting is integral to your business.  Make it easier with online quotation software and you can spell more winning bids to grow your business. All above-mentioned points will help you improve quote acceptance and keep your business excelling.

Maximize Profit in low margin VAR business