Why You Should Always Follow Up On A Quote

Securing a business deal is always a great accomplishment. This usually means that multiple negotiations were involved before an agreement was reached. Part of these negotiations typically involves quotes or the estimated pricing for rendering professional services.

These calculations are usually based on market factors such as supply and demand, including the amount of time it requires to complete the job. If it’s an emergency or an urgent request, the quote will likely cost more than a job that can wait a few days to complete. Don’t let the opportunity slip away

When customers ask for a quote on your products and services, it’s most likely that you’ve attracted their interest. But while it’s not a reason to celebrate just yet, it’s an excellent opportunity to convince a potential client right at the doorstep. This is why it’s essential to follow up on a quote or estimate – to find out as soon as possible if they’re still interested and, if not, to make adjustments that will suit their needs.

For a small business with limited resources, it might be helpful to start with an estimation template. Many software companies, such as Jobber[1], offer free templates companies can easily customise to look organised and professional. If you’re considering the use of quoting software, you have options to create, send, and track detailed quotes that are easy for customers to understand and approve.

Why You Should Always Follow Up On A Quote

But aside from getting your client’s approval, here are other reasons why it’s always important to follow up on a quote.

  1. It’s a reflection of good customer service

Trust can also be built between you and your customers when you learn how to follow up on a quote[2] correctly. Reaching out to your clients will help them feel that you care about the project and shows how eager you are to work with them. Sometimes, your clients may be so busy that they forget about the quote you sent them days or weeks ago.

By following up, you can get their feedback about whether they find it lacking or excessive. From there, adjustments can be made so you can come up with a new quote that’s more suitable for their needs. This might sound simple, but they can give the impression that you value their insights and your relationship with them.

Whether you choose to do it in-person and manually or through the aid of software programs, prioritising customer service is one of the best decisions you can make for your business’ success[3].

  1. It can help open up better communication towards negotiations

Negotiation is always a part of any business. It allows parties to discuss their needs and expectations, gauge the offer on the table, and understand factors that influence both parties’ decisions. However, not everyone likes to negotiate for several reasons, and the inability to communicate properly is one of them. (1)

When it comes to quotes, a good way to start negotiating your price is by following up. When you do this, clarifications and corrections can be made if needed. You can encourage potential clients to ask questions and find out if there’s something they’re hesitant about.

Once you feel that your client has opened up, you now have the opportunity to explain why their project costs this much or can only be done in this timeline. You get to present the variables that contributed to your quote and develop options that are workable for both of you. You can also offer the best walkaway – a combination of deliverables, price, and terms within the minimum quote you can accept at the end of the negotiation. (1)

In the process, you’re also building valuable and possible long-term relationships[4] with your potential clients. This can ultimately make future communications and negotiations with them easier.

  1. It’s an opportunity to convince potential customers and increase your revenue

Following up isn’t just a part of providing excellent customer service, it can also be one of the quickest ways to increase your profits. With a follow-up[5], you have a chance to change the minds of those who may think your quote won’t work for them.

You can discuss their objections, offer them alternatives, and modify the initial quote you made if needed. (2) From there, you have better chances to secure the deal, begin a new project, and increase your revenue eventually. So before thinking of skipping follow-ups as a crucial step, keep in mind that profits may be lost when you fail to follow up on quotes.

And your loss will be another business’ gain. Conclusion Securing a business deal isn’t always easy.

It requires time and patience, especially when you need to follow up on a quote you sent to a potential client. However, with the numerous benefits you can get from it, learning how to follow up a quote effectively will always be worth it. So, learn how to master this practice and look forward to watching your business grow.

References:

(1) “11 Ways to Negotiate Better,” Source: https://www.inc.com/jeff-haden/11-ways-to-negotiate-better-with-anyone-even-if-you-don-t-like-to-negotiate.html[6]

(2) “3 Different Ways To Increase Your Profits,” Source: https://entrepreneursbreak.com/3-different-ways-to-increase-your-profits.html[7]

References

  1. ^ Jobber (getjobber.com)
  2. ^ how to follow up on a quote (academy.getjobber.com)
  3. ^ business’ success (warehousenews.co.uk)
  4. ^ long-term relationships (www.forbes.com)
  5. ^ follow-up (www.entrepreneur.com)
  6. ^ https://www.inc.com/jeff-haden/11-ways-to-negotiate-better-with-anyone-even-if-you-don-t-like-to-negotiate.html (www.inc.com)
  7. ^ https://entrepreneursbreak.com/3-different-ways-to-increase-your-profits.html (entrepreneursbreak.com)


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