Winning Bids in the Hyper-Competitive Sales Quoting Business
In the past few months I’ve looked in every nook and cranny of my business for ways to cut costs, especially the “hidden” costs that you don’t realize are adding up. Like inefficient use of time.
Turns out one of our big time sucks is sales quoting. Some of our services are straightforward and easy to quote…maybe take a minute or 2. But our really lucrative opportunities often take a couple of hours to research, price and “pretty up,” so the sales quote “look and feel” matches the value of our work.
In fact, it turns out we have been spending approximately $25 per sales estimate we create. I checked with some of my clients, and plugged in their numbers, and we got a range from $20 – $150. And as we all know, not every estimate turns into a sale. So this seemed like a great place for a re-think on cost savings.
I liked the solution I discovered so much, I decided to resell the quoting software to estimate-intensive, sales-driven organizations. Now instead of one-size-fits-all quotes going to my low-end and high-end opportunities, I can match the quote template to the project.
For example, the image on the top left is the “Celebrity Sales Quote” sales template. It puts your products’ images front and center, almost like a catalog, with complete product descriptions, part numbers, a catchy title–whatever info you have or want to show. But a Quick and Dirty Line Item Sales Estimate may be all you need if need to get something out fast and keep it simple. Finally, a third option is a formal Narrative Sales Proposal, which may be appropriate for responding to an RFP or other situations where the person presenting your products and services is not you. I did one like this years ago that was almost 50 pages. Today, I could create it once in my sales quoting software and use pieces and parts of it for any estimate, and it would only take me a matter of minutes.
On Tuesday, December 20, I’ll be holding a free 60-minute webinar demonstrating how a sales quoting system reduces the cost of calculating estimates and gives the competitive advantage of being first bidder to respond (because you’re so fast!)
Want to find out more? Register here. If you can’t make it live, I’ll be posting the recording here after the holidays.