The Relation of Quotation and Sales
A quotation is the foundation stone of a business deal. The foundation must be strong to support the entire infrastructure.
Whether you are an online business or a physical brick and mortar store, your sales proposal represents you.
A quotation paints a picture of your products and services to your client with its pricing. The clearer the picture, the better are the chances of getting business.
Hence in any business, the importance of quotations is well understood and companies invest their time and resources to prepare the best possible sales proposal.
The Requirement of Quoting Tool
Got a product inquiry? You need to send a sales quotation.
Now, will you start digging into your files for information regarding pricing? Will you prepare a spreadsheet with products-wise prices?
Remember you have to include the taxes too as per the current norms. Are the documents complete? Did you check the inventory?
Phew!! By the time you are done with the entire process of preparing a quotation, attaching related documents and drafting an email for the same, I am afraid your client may lose interest.
The quicker and more efficient way to respond to your prospective customer with an impressive quotation is by using a quotation tool.
Nowadays, there are tools that can do all the above-mentioned work to create a quotation for you in a few clicks.
You can connect with your clients immediately when your product and services are fresh in their minds.
We are witnessing an era of automation. To improve productivity in your sales process, start with a sales quote tool. Sales are the most important part of a business and product quotation is critical.
To make your business profitable you are required to generate more sales. Instead of wasting your time in monotonous tasks of creating a quotation, utilize that time to bring more prospects to your business and increase your sales productivity.
Few Clicks and Done
A quoting tool does the job of creating a product quotation in a few clicks, hence improving your sales productivity. You can impress your prospect with your quick responses regarding the sales quotes.
These quotations are updated as per the current tax, compliance and legal requirements. Documents are listed and you are notified in case you are missing any of them. You can choose a template from the library, attach your branding and use it to give a professional look to your quotation.
Believe it or not, a polished quotation affects the mind of your prospect positively towards your products or services as compared to one which looks shabby.
Improved Sales Productivity
Sales productivity is directly related to the revenue earned by a business. So, any steps taken to improve sales productivity show results which are visible in terms of profits.
Often the sales team is busy with their effort to generate leads and converting them. The time consumed in coordinating with the members in the back end and accounts can be utilized by communicating with the clients.
A quotation tool needs less coordination time between the sales force and other team members as the process is automated and runs with some basic inputs.
A lot of these tools are now cloud-based which means that
- The data can be accessed from anywhere, anytime with any device.
- The information once fed can be used for reference anytime.
Both benefits help in increasing sales productivity.
Case 1 – Imagine a scenario when a salesperson interacting with a client needs some information “quickly” regarding the pricing. At the stage of negotiation, this “quick” has to be really quick.
With the use of a quoting tool for finding out such information not only the salesperson gets the data in a few seconds, but the customer also experiences a professional approach which is great in building the trust about the enterprise.
Case 2 – The client is interested in the product or services that you are discussing and asks for a quotation. You know that there are other players in the market and the only way to win this deal is to offer competitive pricing and quick response.
The “quick response” is taken care of by the quoting tool as it does the job of days into minutes.
With the use of this tool, you can also compare prices to offer a better deal to your prospect. With the advancement in technology, we are proceeding towards such tools with artificial intelligence (AI).
Quoting tools with AI interpret the requirement of the client and prepare the quotation accordingly. This way the chances of success for the salesperson are higher.
Also, these quoting tools don’t miss out details like taxes, post-processing costs, etc. which are static and are supposed to be included every time.
Quoting tools have features that can link it to other software. So, in case of rush orders, the salesperson can check the inventory and processing with the integrated systems to commit accordingly.
Fast and accurate communication is always appreciated in business. If we look at the big picture of sales and profit, the impression your client carries about you creates a long term impact on your business.
If you follow processes that streamline your business, what you get is the timely and accurate information. This information when passed on to your prospect in an impressive way creates an opinion about your professionalism.
In short, less time taken in preparing attractive product quotations helps increase sales productivity by saving time and effort. Also, it projects the way you do business as an efficient approach in front of your customers.