When launching a business, many entrepreneurs face the need to create a commercial proposal and quotation. In the early stages, this issue is not so relevant because the management, as well as subordinates, are busy with the realization of the product. However, as soon as the main work on the production of goods or services ends, there is a need to sell them. It is at this stage that the need to create a proposal and quotation becomes apparent. Not everyone pays due attention to this issue, which is a very grave mistake. In fact, a business proposal and quotation are some of the main tools that help you sell the product you have created. How to write them correctly and what advice to heed, you will learn further in the article below.
What is a Quotation?
It is important to understand what is hidden under this concept in order to draft a commercial proposal or quotation correctly. First of all, it is a document that is sent to potential clients in order to advertise goods and services. Most often, companies send it by e-mail but the brochure format can be used as well.
Commercial Proposals: Basic Types
Most often, proposals are classified into three main types. The first is an official document that is sent to the company that made the request for it. Such an offer includes rather limited information about the product – only those data that were not previously known to the potential buyer. This approach is easily explained – it should feature a minimum of the described advantages that will help make the final decision. An important part of creating such a proposal is to introduce the requirements of a particular company. It is necessary to indicate how your product or service can positively affect the customer.
Informal offers are used in business quite often. They are usually sent to potential customers who have shown interest in a product during a personal conversation. The customer does not directly ask for information about the product but shows a certain readiness to further discuss the purchase. In order to finally convince the customer to commit, it is important to mention in the proposal those points that interest their company the most.
The last option of offers is unsolicited offers. They are sent to any companies that may potentially be interested in the service or product. Of course, when drafting them, you will not be able to take into account the requirements of a particular company, so it is important to make a proper product card: describe its best aspects, demonstrate the principle of operation, and most importantly, indicate future opportunities.
Creating a Quotation: What You Need to Know
We have reached the question of how to write a quotation. In fact, there is nothing complicated in this process. It is only important to approach it with full responsibility, and then success will not make you wait long. It is important to know what elements such documents include in order to do everything correctly:
- cover page;
- table of contents;
- detailed product information;
- why the customer should be interested in your offering;
- contact details.
Depending on what product you are marketing, other items may be added, such as the problem or need statement, the proposed solution, and so on.
First Step: the Title of the Quotation
Would you like to know how to write a quotation letter in detail? Excellent! It’s a good idea to start with the title of your quotation. If you want to get your potential customers interested, you should choose a compelling headline that will encourage them to explore the information described below. In addition, it is important to pay due attention to the design of the cover page. The following data should be specified:
- the name of the company employee who the quotation comes from;
- the name of the company that sells the product or service;
- the name of the potential client;
- date of sending the letter..
The next stage is to write the table of contents.
Second Step: Table of Contents
Most often such documents are sent to people who may have insufficient time to explore the document in its entirety. The exception is parts of the quotation that may interest them the most. Therefore, try to make the task easier for the potential client, and prepare a short list of content. Make it enticing, and come up with interesting titles that will encourage readers to look at the information further. If you are sending a quotation by email, use hyperlinks to quickly navigate to the required data.
Third Step: Information about the Product or Service
The main purpose of the business proposal is to sell the product, so considerable attention should be paid to its description. Use the main information about it, and add its advantages and features that make it stand out among competitors. If you are creating a quotation for a specific company, be sure to add a paragraph on why the service or product will be interesting specifically for its business.
Forth Step: Pricing
It is obvious that no client will want to waste time on a company that has decided not to reveal the main secret, namely the cost of services or goods. Even if your offer turns out to be extremely interesting for a potential customer, you make a big mistake if you do not specify the cost. This is the information that can push the client to make a decision. In addition to the price, specify other, no less important information related to payment terms.
Fifth Step: Information about the Company
Often the client makes the final decision after realizing that they are satisfied with the prices you provide. Therefore, it is recommended to explain how to contact representatives of your company for further discussion of cooperation.
If the task of the quotation has been accomplished, and the buyer is ready to accept your terms and conditions and wants to purchase the product or service, then it is time for the final stage – the signing of the document. It is important to provide a place for this in advance. It is necessary to indicate the initials of the employee who will sign, as well as the current date.
Now you know how to send quotation to company to sell your product or service. If drafting such a document is quite difficult for you, it is recommended to use the template provided by PandaDoc. Thanks to the free sample, you will be able to easily create a quotation, spending a minimum of time and effort. It is worth noting that the company’s platform offers more ready-to-use templates that will help you quickly generate the necessary documents.