5 Tips to Maximize The Chances Of A Quote Converting To A Sale

Reading Time: 4 minutes
Maximize The Chances Of A Quote Converting
Reading Time: 4 minutes

Want to set up a ecommerce store? Great go ahead. Though it doesn’t just end there, setting up a store is the least of your worries. You want customers!

Customers are king and there are some do’s and don’ts when it comes to encouraging them to buy items from the store and trust the brand. Conversion is an important metric to watch when planning on building a business and increasing revenue.

See it as conversions are the bottom line of business, the end goal. Well-structured quotes provide reasons to choose a company.

Often consumers vaguely know what they want but need help clarifying exactly what product and specifics they need. That is when your quotes can provide valuable insights to them giving them value for their buck. Strike the right balance, and increase the conversion of quotes into sales.

consumers

Here are some pointers to Convert a Quote to a Sale

1. Products And Packaging

It all starts with the product. That is what makes the idea work in the first place. Then comes great marketing which makes the product sell. Ensuring high sales turnout depends on how the product is perceived by consumers or clients and what they would do to acquire the product and why they need them.

If products are not in demand or the demand has dipped, understand what is the reason behind it and address issues asap.

Get products right and then focus on how they are packaged and presented to clients. Great products miss the customer’s eye because they lack great packaging that makes products stand out on the shelves as well as on e-commerce website in a competitive market yet keeping price-conscious customers in mind.

Are products worth the price customers pay for? Are they willing to buy products for that price?

What is the pricing based on? Is it the product itself that is unique or in demand or is it the brand value that makes customers want to buy products?

Have a proper sales quotation system in place using a sale quotation software to convince customers why they should buy these products from you. In the age of apps, use business quote apps to get an idea of pricing and then estimate costs.

2. Address Needs Asap

Some theories suggest that queries addressed within the first sixty minutes are more likely to develop into meaningful conversions.

Show concern and willingness to address queries to build trust with customers. The more proactive steps that are taken by the enterprise, the more it goes into investing in a symbiotic relationship with customers and takes it further to build on business and sales conversions in the future.

Customers may have questions about quotes, product features and stock available.

These need to be addressed quickly to avoid a halt in conversions. For this, an efficient customer management solution is necessary.

VARStreet’s CRM software lets you structure customer contact details to manage quotes, invoices, orders, stock, inventory along with sales and marketing activities. Consider using a quotation application to streamline quotes.

These solutions help to comprehensively understand consumers and manage companies and quote contracts. This helps the sales staff as well to monitor real-time stock updates to address queries efficiently.

3. CRM

Customer Relationship Management (CRM) is an approach to manage a company’s interaction with current and potential customers. A CRM software uses data analysis about customers’ buying history and focuses on how to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.

CRM software enables organizations to develop quotes that target their specific needs of getting, storing and sorting information about contacts? A well-structured CRM system can be a powerful tool for converting quotes to sales.

Understand the customers, their likes and dislikes, their location, their spending patterns, age and gender, tastes, needs and buying habits. This gives a detailed picture of their spending power, making way for an opportunity to modify quotes and devise them according to their liking.

4. Use Old Templates

Manage the profitability of projects and jobs in real-time. How to go about this? Provide direct visibility of all processes, inputs and time. It also provides costs, including labour hours, materials, equipment hours and consulting hours.

Focussing on minute details gives more clarity to customers. A proper template simplifies the buying process and saves time too.

Understand what mistakes were made, customers’ responses and how the scenario changed post that. This helps to think out of the box and come up with a solution after being tweaked to give a fresh perspective to match customers’ requirements in the current scenario.

5. Offer Discounts Carefully

When the team gives a quote, are discounts part of their selling tactics and repertoire? If discounts are offered in the quote, do they make sense? When discounting prices the sales quotation system should include the real cost of discounts to the enterprise. Consider negative fall outs if other customers find out that some clients were given discounts and others were not.

New clients that accept discounts will also expect them when they return as customers. Hence discounts should be weaved into the quotation application before finally being presented to customers. On the other hand, if discounts motivate them to convert into a customer and refer other clients to the enterprise, consider that aspect too which could be well worth the discounted price.

Customers may be wary of whether discounts are true discounts. Have they just inflated prices that are later reduced to appear like good deals? Don’t feel pressured into giving discounts if it makes no sense to the enterprise and customers see through the inflated price and discount strategy which ruins chances of building a long term association.

Have customized quotes and consider a business quote app that adds value and are key differentiators are enough. Know customers and their thought processes and have the sales team gauge how customers react to differing prices for various products. Understand how the impact of the sale with a discount, before offering one.

 

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