Take advantage to sell more
Posted: Mon Dec 23, 2024 3:40 am
The budget as a business tool
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Friday, July 19, 2024 11:58
Written by Luis Miguel Valle Ramirez
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Following a commercial contact with a buyer (real or potential), the seller usually sends a brief summary containing the characteristics of the good offered and the proposed sales conditions: this is known as a budget or commercial proposal.
In this article we give a few tips so that this element of communication to a buyer is not simply an informative document and becomes an effective marketing tool that helps the sale.
Tips for turning your budget into a business tool
1.- Create a quality design
The budget is currently the only commercial document that any potential buyer will really pay attention to. Therefore, it must give a very positive image of the company or professional who issues it.
Therefore, it is advisable to spend time thinking about what information it will contain and what its design will be . To do this, we do not need great artistic talent or programming experience.
There are currently various free image banks and free programs and applications, such as Canva, which allow you to generate and publish PDF documents with very good quality without having prior design knowledge, using templates. Thus, including photographs of the product or company, the logo and corporate colors in the quote can enhance the image that the client has of us.
Sales consultant presenting a budget to a client in paper format with an open laptop
2.- Be precise and rigorous
The goal of any client reviewing a quote is to understand in the simplest possible way what the proposal we offer consists of.
We should therefore avoid giving insufficient information about the product or service we want to sell (or, on the contrary, offering too much). We should also avoid having the recipient of the document calculate (by adding, subtracting or grouping) the amount of our offer if they ask for several products or pieces or if a discount should be applied. All operations must be carried out and explained.
It is advisable to personalize the quote by including the details of the client to whom it is addressed and to give them a reference number to avoid subsequent errors in the preparation or shipment of orders and also to improve traceability, in the event that the client has doubts later on about the quote, makes a counteroffer or makes a subsequent claim about the product or service that we provide once said quote has been accepted.
It is also highly recommended to include the date of issue and the validity of said estimate in the quote. Failure to do so may lead some recipient to place an order later, when it is not possible to maintain these conditions.
3.- Generate trust
One of the elements that any client looks for in a company or professional is that they are trustworthy. Therefore, using the budget to give arguments that allow them to trust us, such as, for example, opinions and evaluations from clients, company commitments, certifications or awards obtained, or experience in years or work carried out, is an ideal accompaniment to any type of budget.
4.-
The budget can be, in addition to an explanatory document, a commercial communication to offer other products or services that are combined or alternative to those budgeted. This is what is called cross-selling. Look, for example, at how a platform like Amazon does it when you go to buy something.
Even if the quote is not ultimately accepted, by introducing other offers we can leave the door open to obtaining subsequent sales from that client.
It can also be a tool to show the advantages that the buyer of our products or services can have if they complete the order, such as discounts on subsequent purchases, prizes or participation in loyalty programs.
5.- Track all issued budgets
In a commercial context as competitive as the current one, every commercial proposal must be followed by a call or at least an email contact to ask the client's opinion.
To avoid generating rejection, you can ask about any possible doubts that the recipient of the quote might have, you can offer additional discounts to those included in the quote, or even tell them that they must make the korean phone number whatsapp decision to buy before a certain date due to stock shortages or staff vacations.
Tracking not only helps us to increase the number of clients who ultimately decide to accept our offer, but also to know which elements of the quote are most valued or rejected by the recipient of the quote.
5.-Check how other companies do it
Reviewing the practices of other companies, whether competitors or from other sectors or sizes, can be a source of inspiration for incorporating or rejecting ideas or strategies in the design or issuance of the budget. Research should be carried out periodically to incorporate new developments or discard ineffective proposals.
6.- Use Artificial Intelligence to create budgets.
Currently, these free tools such as Chat GPT, Microsoft Pilot or Google Gemini allow us to quickly and easily obtain information on comparisons or trends that may be of interest to us to include in our budget, although it is advisable to check the information they publish.
They can also be asked to generate a budget for a product like ours. Even if we modify it later by including other elements, the generated example can serve as a guide for preparing it and can give us ideas for creating it.
SHARE
Rate this article12345(3 votes)
Friday, July 19, 2024 11:58
Written by Luis Miguel Valle Ramirez
☛ Send to a friend
Following a commercial contact with a buyer (real or potential), the seller usually sends a brief summary containing the characteristics of the good offered and the proposed sales conditions: this is known as a budget or commercial proposal.
In this article we give a few tips so that this element of communication to a buyer is not simply an informative document and becomes an effective marketing tool that helps the sale.
Tips for turning your budget into a business tool
1.- Create a quality design
The budget is currently the only commercial document that any potential buyer will really pay attention to. Therefore, it must give a very positive image of the company or professional who issues it.
Therefore, it is advisable to spend time thinking about what information it will contain and what its design will be . To do this, we do not need great artistic talent or programming experience.
There are currently various free image banks and free programs and applications, such as Canva, which allow you to generate and publish PDF documents with very good quality without having prior design knowledge, using templates. Thus, including photographs of the product or company, the logo and corporate colors in the quote can enhance the image that the client has of us.
Sales consultant presenting a budget to a client in paper format with an open laptop
2.- Be precise and rigorous
The goal of any client reviewing a quote is to understand in the simplest possible way what the proposal we offer consists of.
We should therefore avoid giving insufficient information about the product or service we want to sell (or, on the contrary, offering too much). We should also avoid having the recipient of the document calculate (by adding, subtracting or grouping) the amount of our offer if they ask for several products or pieces or if a discount should be applied. All operations must be carried out and explained.
It is advisable to personalize the quote by including the details of the client to whom it is addressed and to give them a reference number to avoid subsequent errors in the preparation or shipment of orders and also to improve traceability, in the event that the client has doubts later on about the quote, makes a counteroffer or makes a subsequent claim about the product or service that we provide once said quote has been accepted.
It is also highly recommended to include the date of issue and the validity of said estimate in the quote. Failure to do so may lead some recipient to place an order later, when it is not possible to maintain these conditions.
3.- Generate trust
One of the elements that any client looks for in a company or professional is that they are trustworthy. Therefore, using the budget to give arguments that allow them to trust us, such as, for example, opinions and evaluations from clients, company commitments, certifications or awards obtained, or experience in years or work carried out, is an ideal accompaniment to any type of budget.
4.-
The budget can be, in addition to an explanatory document, a commercial communication to offer other products or services that are combined or alternative to those budgeted. This is what is called cross-selling. Look, for example, at how a platform like Amazon does it when you go to buy something.
Even if the quote is not ultimately accepted, by introducing other offers we can leave the door open to obtaining subsequent sales from that client.
It can also be a tool to show the advantages that the buyer of our products or services can have if they complete the order, such as discounts on subsequent purchases, prizes or participation in loyalty programs.
5.- Track all issued budgets
In a commercial context as competitive as the current one, every commercial proposal must be followed by a call or at least an email contact to ask the client's opinion.
To avoid generating rejection, you can ask about any possible doubts that the recipient of the quote might have, you can offer additional discounts to those included in the quote, or even tell them that they must make the korean phone number whatsapp decision to buy before a certain date due to stock shortages or staff vacations.
Tracking not only helps us to increase the number of clients who ultimately decide to accept our offer, but also to know which elements of the quote are most valued or rejected by the recipient of the quote.
5.-Check how other companies do it
Reviewing the practices of other companies, whether competitors or from other sectors or sizes, can be a source of inspiration for incorporating or rejecting ideas or strategies in the design or issuance of the budget. Research should be carried out periodically to incorporate new developments or discard ineffective proposals.
6.- Use Artificial Intelligence to create budgets.
Currently, these free tools such as Chat GPT, Microsoft Pilot or Google Gemini allow us to quickly and easily obtain information on comparisons or trends that may be of interest to us to include in our budget, although it is advisable to check the information they publish.
They can also be asked to generate a budget for a product like ours. Even if we modify it later by including other elements, the generated example can serve as a guide for preparing it and can give us ideas for creating it.