Is your Price Quote costing you sales?
(How to check, and 3 ways to fix it)
First, let’s clarify what exactly we mean by a Price Quote.
A Price Quotation or Quote is that ONE document you send to your potential client, right before you close the deal with him.
At that crucial time, your client is looking for prices, and exact details of WHAT he is getting in exchange for those prices.
Most importantly, he is wanting to compare your product with competitors. This is understandable as he is about to spend his money, and needs reassurance of his investment.
(… and THIS reassurance is exactly what even premium companies sometimes fail to provide. They present only the price breakdown, and fail to connect with the customer’s other needs).
Let’s take an example with you as the Client.
Imagine that you have been discussing a customized $50.000 sofa for 4 weeks with a company.
In the end, they give you a robotic Quote on an A4 page with one line on ‘product description, quantity, sub-total, taxes and grand total’. There are a few more words here & there, such as their address, their company motto and terms & conditions.
By looking at this lifeless document, would you still feel an ‘impulse’ to buy? Would you feel inspired?
When you show this Quote to friends & family, and they can’t visualize all you’ve discussed with the Salesperson, their reaction will be dull and will steer you away from your purchase.
You will think twice about ‘needing’ the product at all, and you may back out from the purchase for ‘another time’.
This basically means a lost deal for the company.. even after they almost won you over in the prior steps of the Sales Process.
In the precious last step, they failed.
This brings us to what your Client would rather see on your Quote:
- Powerful imagery of your future purchase, to create emotion in his mind
- Proof / Facts, to help him visualize a healthy ROI
- A brief market analysis to prove that he’s making the right choice.
THEN, seeing the price on the Quote, he will say, ‘Yes, I’m sure. Let’s go for it!’
So how can we apply these insights to your Business now?
Here are my top 3 recommendations:
1. Humanize the Quote
- Help your customer dream
Use powerful images of your product. Use arrows to mark special features.
- Design your Quote without speed-breakers
Give your Customer the right reading flow and balance information with enough images.
- Have an Introduction Letter speaking to the customer personally:
Don’t say hi and bye by just using your Price Breakdown as your Quote.
Make your Quote a warm, friendly document. Include the Intro Letter ideally from the Salesperson that dealt with the Customer, or from a higher authority, and mention facts:
1. Friendly Opening Line-
“Hope you are feeling better now, we were extremely sorry to hear about your accident” or “Hope your project is going well”
2. The purchase context-
“It’s been exciting to customize furniture for your new home”
3. Special features-
“We’ve given you a choice between dark wood and light wood polish”
“We’ve given you extra upholstery covers free of charge”
5. NON-PUSHY Conclusion-
“We hope this Quote inspires you. Please feel free to let us know if you’d like to discuss further. We are available any time as per your convenience.”
EXPERT TIP: Create a Quotation Template and change only 20% of the letter. Keep 80% the same for every client to save time
2. Avoid information holes
Include ALL related information of the purchase in the Quote, so that your customer does not have to write back to you for basic clarifications.
Each time he needs to ask you something, you create more friction in the process, meaning lesser chances of selling.
How to avoid information holes?
The simple foolproof way is to create an FAQ section, that is readable by a human.
Don’t make it like a legal disclaimer with small text. Make it graphically so nice, that people will ‘want’ to read it.
This will give clients gold standard confidence with you, show that you know your product, and have nothing to hide.
3. Use Emotional Branding on your quote
Your logo is NOT your brand.
Your brand is the impression you have on people.
Your brand is why people invest in you- with Time, Money, or Emotions.
They like to browse your website, your storefront, your products, NOT because they always want to buy, but BECAUSE you help them dream and give them value.
Your Quote is a continuation of this- selling them the dream and helping them get value from you.
So how to use emotional branding on your Quote?
- Good quality pictures which make people recognize your brand in a heartbeat
- Press features
- Global presence
- Founding Story
… All in the right balance. This is ONE secret to quietly making space in the customer’s heart, and getting him to take THE NEXT ACTION on your Quote- BUYING.
Book your free 30 minute call with me
A successful Price Quote speaks on your company’s behalf. It justifies your price tag, which is the deal-maker or deal-breaker when your product is high-end & premium. If your client sees the “value” and confidence in what he is buying, you will reach the final step of making the Sale!
Hello, I am Aanvi, Business Presentation Expert. I invest my time helping businesses level up their Sales Quality and get more customers. I can help you design a Price Quote for your business. Click below to view my portfolio: