Thoughtful Thursdays – What goes into a successful sales proposal?
There are few sales highs better than being told that your proposal has been accepted. On the other side of the coin it is disappointing when your bid is unsuccessful.
Today’s sales thought is about why a sales proposal might not be successful.
In cases where the product or service is a pure commodity, price may be the deciding factor. Most of the time there are other reasons why your proposal was not accepted.
Responses to formal Requests for Proposals (RFQ’s) must follow the format requested in every detail. One page to many can be the reason for elimination. Failing to address all the requested points also increases the chances of being rejected. Being late is a sure way for your proposal to find the trash.
If a presentation is required:
- Know who your audience is going to be and use words they will understand. If there will be several in attendance, bring appropriate members of your team as well.
- Be sure you are ready. Have you asked all the questions necessary and received all the answers? Is your customer in agreement with your situation analysis.
- Are you addressing all of the concerns?
- Reinforce the value of working with you.
- Practice the presentation.
Less formal situations generally cover similar points of discussion. Be sure you are talking the correct people. Be empathetic to any concerns. Anticipate objections and think about your responses ahead of time.
Be mindful that buying is a process just like selling. Cover all the concerns before they have time to become issues, be confident and make the sale. After all, you are an expert in your field.
Have a question about sales? Contact Sakanashi and Associates Inc. and I will be happy to respond.
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