A price quote can help to seal the deal for a client who's on the fence between two companies' products and services. If they have two quotes in their hands for around the same price, you can bet they're going to choose the more professional-looking one.
Here's how you can ensure that your price quote template has all the ingredients to help make the sale for you.
What is a Price Quote?
A price quote is a formal document that lays out what the client will pay for your goods or services. It includes precise details and most companies will elevate the costs slightly to cover eventualities.
That's because a quote, unlike an estimate, is legally binding. So it's important to find a happy medium between offering an attractive price and making a profit when you're compiling your quote price.
How to Compile a New Price Quote
When you receive a price quote via email, it's difficult to gauge exactly what the customer wants. A first step in compiling an accurate quote is to get the person on the phone and ask them a few questions.
For starters, you need to know if you're dealing with a decision-maker or just someone who's vaguely interested in your product or service.
Find out what their expectations are if they have a time limit, and if you can meet these criteria. Don't offer a quote if you're uncertain about whether you can deliver. If you're offering a service, like painting, that depends on a lot of external factors it's always best to visit the job site before compiling pricing quotes.
If you can meet their requirements, it's important to deliver a professional-looking accurate price quote that helps to seal the deal.
The Correct Format for a Price Quote
Using the accepted standard layout for a quote makes your document easier to read and understand. Every price quote should have the following sections:
A Header
A header stating simply ''Quotation'' or ''Quote'' to distinguish your document from an estimate. You should also include your logo, contact details, payment terms, and tax registration number at the top of the page as well as the client's name and details.
The Body
This is where you describe the services or goods in detail and provide specific pricing information. Avoid guessing, work everything out in minute detail. Including images as an example of the finished product is a nice touch and helps the client visualize what they stand to gain.
A Footer
At the bottom of the page, include totals relating to the number of items and tax amount involved. It's important to mention the validity of the price quote. Always provide a call to action, such as the client's signature to show acceptance.
Apart from the client's details and specifics relating to the job, you can standardize all these elements. Making the effort to set up a price quote template will save you a lot of time down the line. You'll find many excellent free quote templates to get you started online.
An attractive, professional-looking price quote helps to seal the deal with a prospective customer. If you close more deals, your business will continue to grow.
Get More Tips On Writing A Price Quote
Getting the basics right when preparing a price quote does a lot to convince clients that you mean business. Keep reading our blog for more valuable business tips to close more deals. Visit the Sales and Finance sections of our blog right now!
