How to send a quotation to a customer

So a potential client has asked for a quote?

Or perhaps an existing lead, who you’ve already spoken to multiple times, has requested a quote to finalize the sale.

All you need to do is pop your pricing into an email and hit send, right? Done deal.

If only life were that simple!

Sending quotes can be a tricky business. While it looks simple on the surface, there are a lot of pitfalls that most salespeople fall head first into when creating and sending quotes. And, despite their best intentions, they end up losing potentially lucrative clients.

In this short guide, we’re going to show you exactly how to deal with quotes. Understanding how to tweak your quotes based on a client’s unique needs will go a long way in boosting your conversion rate.

Evaluating the position of your potential client

It’s difficult to tailor your quote for success if you don’t fully understand your prospective customer’s pain. Conversely, if you know exactly what information is being asked for, where a person sits in the decision-making process, and whether or not they’re ready to buy, you can use that understanding to better meet their needs.

Ask the following questions prior to putting together a quote:

Is a client evaluating multiple options?

If a client is evaluating multiple options, there’s a good chance on you to convince them that you’re the right service provider for the job. Rather than send a simple pricing table, you might also want to consider going into greater depth about your strengths, past experience, and any added-value you provide. Following up with potential new customers will also be more important if this is the case.

Has a client sent a detailed request for quotation (RFQ)?

How much detail does the sender really require?

Sometimes more is less when sending a quote. If you have received a full RFQ then it’s important to use the format provided and include all necessary information, spanning itemized pricing, deadlines, warranties, payment terms and more. If, on the other hand, a prospective client is only seeking a ballpark estimate as part of preliminary research, providing nuanced details might actually be counterproductive.

Is a client ready to buy?

Sometimes the purpose of sending a quote is to finalize a deal that has already been agreed. If a client or potential client is quite far along the sales cycle and has requested a quote more as a formality than anything else, then a quote should more closely resemble a contract. It should include all the necessary elements for the client to finalize the deal, such as electronic signature fields and detailed Ts&Cs.

Responding to a request for quotation

A request for quotation (RFQ) is a document designed to be sent to multiple suppliers. The purpose is to evaluate options prior to purchase. Despite the name, an RFQ is not the same as a generic request for a quote.

The main difference between an RFQ and a generic request is the level of detail included in each. An RFQ will usually ask suppliers to respond in a standardized format and will be very specific about the information required. An RFQ will usually be made up of descriptions of exact deliverables, timelines, and an outline of the evaluation process.

Use the structure below when responding to an RFQ:

Introduction

This section should comprise a brief introduction alongside details of what’s included in the quote.

Company overview

Give a short overview of your company, including key people. You can also highlight any core strengths, accolades, and relevant case studies in this section.

RFQ documentation

Provide any required information, in the relevant format, in this section. This is where you will include pricing and time frames.

Sometimes, RFQs will ask for responses to be in a specific format, without any extraneous information. If this is the case, stick to the prescribed template.

Responding a generic quote request

If you’re simply sending a generic quote, the following structure will usually suffice:

Introduction

A short introduction that sets the context for the quotation and includes your contact information.

Client details

Include the client’s company name and address to ensure that there’s no doubt about who the quotation is for.

Price table

This is the section for the specific price quotation. Make sure all the information is clear. A table format works well here. You may also want to include timelines. Whether or not you include a ballpark amount or an itemized breakdown will depend on the client’s wishes.

Terms and conditions and legal documents

Any additional relevant information and legal documents, such as a warranty, payment terms, contract, Ts&Cs, etc. can be put here.

Sending a quote with PandaDoc

Using quoting software like PandaDoc to send a quote has a myriad of benefits. PandaDoc enables you to dramatically streamline your document workflow while taking advantage of conversion-boosting tools like electronic signature fields, speedy payment options, and detailed analytics.

Follow the steps below to send a quote using PandaDoc:

  1. Log into PandaDoc.
  2. Select “New Document”.
  3. Type “Quote” into the search bar and select an appropriate quote template from the results
  4. Input the relevant details and click Start Editing.
  5. Alternatively, you can upload your own templates using the Upload tab.
  6. Once the quote has loaded you can drag-and-drop content blocks, pricing tables, signature fields, and more using the right-hand menu.
  7. When you’re finished click Send and write a short message to your recipient.

Conclusion

If you regularly send quotes, it’s worth considering a smart sales app for managing documents. Not only do these apps allow you to take advantage of templates for speedy quote creation, but they also provide you with an array of tools that save time and make it easier for clients to approve quotes.

If you would like to give one of these apps a try, sign up for a free 14-day PandaDoc trial.