In a perfect world, we have enough resources to respond to all Requests for Quotation (RfQ’s) and Tenders that come on our path. All customers, or potential customers, who ask for a quote will be served with one, way ahead of their deadlines….. 


Alas, we do not live in a perfect world. 


You’ll probably recognize this. A customer comes with a RfQ and you simply don’t have the time and resources to give an answer. There are too many customers, to many quotes to do, too little people and experts to answer them, or the deadline is ridiculous. Maybe you do get an answer out in time, and after you delivered it to the client, you start wondering…. 

  • – Did I quote the products the client really asked for? 

  • – Do I even have the products in stock? 

  • – Could I have offered the customer better alternatives? 

  • – And so on….. 

     

Answering RfQ’s or responding to tenders is hard work and you never really know if you got it right. So why bother anyway? 

Well, it is a simple fact of selling in this free world. If you participate in more, you win more! And winning more means more revenue. A truth of business life! 

 

Let’s say you can respond to five RfQ’s a month. That’s 60 per year. And you have an average win rate of 30%. This means you can win 18 quotes. Now let’s say, you can up your game and respond to two times, five times, or maybe even ten times that amount. When you respond to 600 requests a year, you can, with the same win rate, win 180 quotes. This is simple math, but will mean serious cash! 

But how can you “Up your game”? The answer is not in working harder. This is a road to mistakes. Answering RfQ’s, and getting out those quotes means using experts to do the work. And they are scarce and expensive. 

 

We believe the answer lies in working smarter. Find out where the bottleneck in your quotation process lies. And believe me, in our experience it lies in the same place for everyone: matching the products you clients need to your own assortment. Our own research has shown that 70% to 90% of the time spent on making quotes goes into product cross referencing. So, most of your time is simply spent on making sense out of what your clients wants and connecting it to what you have to offer. Before you even can make a nice price for it. 

So, if you want to Keep on Selling in the Free World (to misquote Mr. Young) and up your quotation game, you need eliminate this bottleneck

 

We believe that automating the product cross referencing is the way to go. Make sure you can “auto-match” most of the products your clients ask for. This will save you a lot of time. Time you can spend on building the relationships with your customers.  

Start working smarter, and not working harder. So you can send out more quotes and make more money. Our Mydatamatcher could be your solution in doing so. Our customers agree on this. 

Related articles

Comments are closed.