• The secret to higher sales: Make the RFQ process simple

    The power of simplicity in RFQ - Request for quote

    There is a big problem in the e-commerce landscape: many businesses make the buying process needlessly complicated. Especially for those business structures that need to hide their prices from customers and let their customers request quotes, this can become an even bigger problem.

    People keep seeking solutions on “Big” things: Maybe my marketing strategy is not good enough, maybe my price is not cheap enough, etc. But the solution is simple: Make everything … SIMPLE. Because of one reason: Shoppers don’t like complex things. 

  • Transactional emails in RFQ: Don't send boring emails!

    The power of transactional emails during Request for quote (RFQ) process

    Transactional emails are those messages sent after the customer takes action. Did you know that transaction emails can have a mind-blowing open rate of80-85%? Surprising, right? These are the emails customers never ignore. But here's the catch: they often feel robotic and devoid of emotion, simply because we automate them for efficiency.

    But what if we told you that transactional emails have untapped potential? This blog post will show you how to transform these seemingly cold messages into conversion machines that forge strong customer relationships.  

    1. What is transactional email?

    2. Marketing emails vs. Transactional emails

    3. How to use the full power of transactional email?

    4. Why is transactional email important?

    What is transactional email?

    The emails that seem to be emotionless in fact hold a big power inside. Most marketing emails are happy with17-28% open rates and2-5% clicks. Yet transactional emails regularly get40-50% of recipients to open up. Even better,10-20% click rate - way above marketing messages. It will be a huge waste if you as a business owner only use these emails to send “robotic” messages.

    Marketing emails vs. Transactional emails

    Transaction emails can do beyond the basic functions! How?

    So, the important question is, how to utilize these transactional emails to make the most of them? Simple, with these….

    Practical tips to fully use the power of transactional emails

    Tip 1: Personalize, personalize, personalize

    Avoid sending emails like “Hi there, my valued customer”. It makes recipients realize it’s a mass email you send to all of your “valued customers”.  Add a personal touch to your email, simply use their name whenever possible. Personalized subject lines increase open rates by29-50%! You don’t want to miss this huge profit.

    Personalize transactional emails for better performance

    Tip 2: Give them more information

    When customers submit a quote request, they're expressing a strong interest in your offerings. However, simply slashing prices to the extreme won't guarantee conversions. To truly seal the deal and turn thatquote into cash, it's crucial to demonstrate the unique value your business brings to the table. Take advantage of the RFQ process by highlighting the following added values in your emails:

    • Product knowledge: Share insights, tips, and highlight key features and benefits. Help customers optimize product usage and make informed decisions.
    • Make comparisons: If customers are considering multiple options, provide a comparative analysis. Show them why your offering stands out and meets their unique needs.
    • Success stories or social proofs:People love to hear from other successful stories to build trust and start using themselves.
    • Extra value: For example, if you are selling technical devices, emphasize that your customers receive a package with 2 years of maintenance. This way, they perceive they're getting more value and long-term support.

    By providing this valuable information, you'll deepen their understanding of your business and foster a stronger sense of trust.

    Give readers more information in the email

    Tip 3: Upselling & cross-selling, why not?

    Normally, we use marketing emails to encourage increased purchases. But sadly, most of these emails are not even given a glance from the customers. However, when sending transactional emails during the process of Request-for-quote (RFQ), you can promote related products or services. It would be best if these recommendations were related to the ones they are showing interest in. With some existingautomation tools built for Shopify, you can easily access the “Customer also viewed” inside a quote request to know more about their interests and give them tailored suggestions.

    Give additional information through transactional emails in Request for Quote process

    Show how extras provide extra benefits. Give discounts for multi-item orders. Clients like saving money. Custom solutions show you understand their needs. It helps form a long partnership, not just one-time sales. The goal is to add as much value as possible every step of the way.

    Tip 4:Make it visually appealing

    An image of a juicy, flavorful beef hamburger worth a thousand words. Make your emails easier to read with blocks of text, bullet points, formatting, and white space. So your customers can scan and read easily. Some websites to get inspired by the email templates you can find are:reallygoodemails.com;mailbakery.com; andpinterest.com. Or you might use the templates provided in theShopify applications to quickly have a branded and professional email to send. 

    Get more transactional email templates in Quote Snap

    Transactional emails are important! Here’s why

     Let’s quickly go through the importance of transactional emails during the RFQ Process:

    1. Building customer trust

    This is an example of the importance of trust, especially in the world of e-commerce, where you make anything delivered to your bed in a click.

    David - a photography enthusiast, just submitted a quote request for a specific camera model. After that, he didn't receive anything: no email, no confirmation. Days passed, and David started to doubt if his request had been received at all. The lack of communication left him feeling uncertain and frustrated. As a result, David lost trust in the store's professionalism and decided to explore other options.

    Transactional emails create high credibility for customers

    2. Enhancing Customer Experience

    David’s experience could become more delightful if there were some quick catch-ups after he submitted a quote form. Transactional emails play an important role in providing the customer with transparent communication. 

    Types of transactional emails for RFQ Process

    3. Drive revenue growth

    There are a lot of tools to set up an automatic flow of sending transactional emails. This contributes significantly to the process of getting more sales from quote requests. A timely transactional email will keep customers like David engaging with the brand and have a higher commitment to the deal provided by your business. Moreover, this kind of email can be a perfect channel for upselling or cross-selling opportunities, which will be discussed in the next part of this blog.

     

    Don't Just Send, Sell: Boost Transactional Emails with Automation

    In conclusion, transactional emails are a powerful way to forge strong relationships and drive sales if handled properly. Tactics like personalization, rich information, upselling, and design can transform these emails into powerful conversion drivers.

    There are manypowerful tools that automate workflows while maintaining a human touch. Businesses can easily set up request forms, automated email sequences, and get detailed reports. This gives the best of both worlds - efficiency through automation, but also a personalized experience every time. Transactional emails are one of the greatest untapped channels - so don't waste any more time utilizing their full power to boost your business.

    Get Quote email templates that actually convert with Quote Snap

  • Get success in Request for Quote (RFQ) in just 2 easy steps

    2 steps to create a succesful Request for Quote (RFQ)

    Businesses that havecomplicated pricing models or offer customized products and services greatly benefit from using Request for Quotation (RFQ). It is a document asking the store owners to tell you how much they would charge for something you want to buy, so you can decide where to get the best deal. Whether you're an established online retailer, a budding startup, or an ambitious entrepreneur, mastering the art of creating a successful RFQ is crucial to your success.

    How to create a successful Request for Quote? Let's find out the 2 easy steps to success through this blog.

    Table of contents

             1. Step 1: Building trust

                     1.1. Why is trust important?

             2. Step 2: Being professional

             3. How to Build Trust and Professionalism with RFQs

                     3.1. Understanding the process of Request for Quote

                     3.2. Where's the space for professionalism and trust-building?

    Businesses that havecomplicated pricing models or offer customized products and services greatly benefit from using Request for Quotation (RFQ). It is a document asking the store owners to tell you how much they would charge for something you want to buy, so you can decide where to get the best deal. Whether you're an established online retailer, a budding startup, or an ambitious entrepreneur, mastering the art of creating a successful RFQ is crucial to your success.

    In this blog, we will explore the two key factors that can make all the difference in your RFQ journey: trust and professionalism. 

    Key factor #1: Trust

    E-commerce is a high-risk landscape. To make a buying decision, customers need to carefully consider many factors. Consequently, as an e-commerce seller, establishing trust becomes crucial. For businesses that deal with custom products or services that have no fixed pricing, this is even more important. Because customers might feel confused and not safe if the price is unclear. With businesses that have the above traits, the Request for Quote (RFQ) process is a critical stage in the customer journey where trust can be fostered. 

    Why is trust important?

    Imagine you as a customer, browsing the website to find a gift for your lovely mom for her birthday. You already have what you want to buy in mind, but now the problem arises, the website selling it looks unsafe. The product has no review, and the price is hidden. Will you buy it confidently without any fear of getting scammed? I doubt that.

    You should not ignore the importance of trust in your eCommerce business. Why? Because:

    1. Trust increases the conversion rate:Trustworthy e-commerce businesses are more likely to convert RFQs into actual sales. The more sales you make, the more revenue you get.
    2. Trust reduces risk:Businesses that use RFQs often deal with complex, high-value transactions. Trust reduces the perception of risk for both parties, making customers more comfortable with making larger purchases.
    3. Trust creates repeated buyers:Satisfied customers are more likely to return for repeat purchases. 
    4. Trust improves negotiation: Trust can facilitate smoother negotiations during the RFQ process. When both parties trust each other, they are more willing to collaborate, leading to mutually beneficial agreements.
    5. Trust creates better relationships with Suppliers:Trust is not limited to customers; it also extends to your suppliers. Suppliers are more likely to offer favorable terms and pricing when you have a reputation for reliability. This can lead to cost savings and improved product availability.
    6. Trust makes business growth: Ultimately, trust can lead to business growth. Satisfied customers, positive reviews, and strong relationships can attract more customers and opportunities, leading to expansion and increased revenue.

    The importance of building trust in e-commerce

    Key factor #2: Professionalism

    Imagine you need a laptop on a tight budget. You find a website selling it but hiding prices, so quote requests are necessary. The process was unprofessional, and filled with errors and delays. Buying a whole new laptop is a big decision that needs to be carefully considered. Will you easily choose to spend such a big amount of money on a firm that lacks professionalism? That’s why professionalism is important in building trust!


    Why is professionalism important in e-commerce?

    How to Build Trust and Professionalism with RFQs

    1.Understanding the process of Request for Quote:

    John, a potential customer, found your website. He wants to have a customized pen to give his beloved mom. Then, John filled out a quote form. He shared his dream pen's details, budget, and timeframe. Your team carefully reviewed his request and created a customized quote with different pricing options. Excitedly, you sent the quote to John via email. You continued to communicate through email, answering his questions and finding common ground. Together, you embarked on a journey to create his perfect pen.

    Understand request for quote process thorugh John's story

    Through John’s story, we can tell the typical RFQ process involves several key steps:

    • Get quote details:Customer fills out a quote form on your website. This provides their requirements, budget, timeframe, and contact details.
    • Prepare & send quote:The RFQ is reviewed, and a customized product/service quote with pricing options is emailed to the customer for their review and potential acceptance.
    • Follow-up:Communications continue between the customer and sales rep via email to finalize any questions and reach an agreement.

    Simplified Request for quotation (RFQ) life cycle process

    2. Where's the space for professionalism and trust-building?

    At every step, there is a great chance to demonstrate the professionalism of your business and gain trust. Our aim is to provide thorough guidance through this blog, so let's explore together how to make the most of each small step. 

    Step 1: Get Quote details

    The first meeting is crucial for making a good impression. If John can't figure out how to tell you what he needs, he might quickly lose interest. Typically, you can place contact information where it's easy to find, so customers can reach out to you. However, customers will appreciate it if you make the process more straightforward. Using advanced methods not only makes it more convenient for customers to send you a quote but also makes it easier for you to handle all the requests. And after all, a more professional image will be created in your customer’s mind.

    So what are the advanced ways that we are talking about?

      • Request a Quote Button: Add a "Request a Quote"button on product pages for quick access to a quote request form.
      • Dynamic Pricing Tool: Use a tool that shows real-time price changes as customers choose options, allowing them to request a quote based on their preferences.
      • Built-in form:Include short customizable quote request forms directly on product/category pages for one-click convenience.
      • Chatbots and AI Assistants: Implement chatbots or AI assistants for guidance and collecting information when customers request a quote.

    Insert an "Request for Quote" button on product page to make RFQ esier to customers

    Step 2: Prepare & Send Quote

    Now that you know what John needs, your duty is to review the Request or quote (RFQ) and prepare the customized pen that John asked for. Then, offer him the  During this process, by going above and beyond the basics, this is a great opportunity to showcase your business's professionalism. 

    • Timeliness: Once you receive the RFQ, quickly let the customer know you got it and that you're checking it. If you have any questions about it, ask right away. Sending an instant confirmation message after form submission is crucial. To automate this task, use a tool that automatically sends confirmation emails to customers. This eliminates the need for manual email sending and the constant monitoring of your inbox for new requests.
    • Attention to Detail: Even a tiny mistake, like getting the quantity or customer name wrong or making a typo, can make your business seem unprofessional.
    • Customization: Make sure to offer your customer a high level of service by providing personalized options or solutions to their demand.
    • Presentation: Presenting the quote in a visually appealing and well-organized format showcases professionalism. Using a consistent and branded template, including the company logo. If you use an application for this quoting process, there are many templates for you to choose from.

    Request for quote (RFQ) PDF templates

    Step 3: Follow-up communication

    Throughout the RFQ process, John has already shown a strong commitment to you. Now, it comes to the stage where you and John talk together to reach a consensus. However, it's important not to lose your focus at this point. During this process, you are closer to the end point of having the final deal and getting the revenue. By maintaining a professional approach, you can secure an enticing offer and potentially gain a loyal customer. Now, in this final stage, what should a professional business do?

    • Flexibility & Problem-solving: Be open to your customer’s specific requests or modifications to the quote. With any challenges, approach with a problem-solving mindset.
    • Written communications: Ensure proper grammar, spelling, and punctuation. Avoid slang and informal language. Maintain a well-structured, easy-to-read email. Address the customer respectfully and professionally.
    • Be transparent: Once you have reached an agreement, be sure to put it in writing. This will help to avoid any misunderstandings down the road.

    The bottom line

    A successful Request for Quote brings you the dream revenue and more potential loyal customers. To achieve that, trust and professionalism are absolutely the keys to opening the door to success. For businesses dealing with custom products and hidden pricing, earning your customers’ belief and showcasing your professionalism is even more important. 

    Maintaining a professional and trustworthy image is not easy. It requires experience, time, and effort. To make it simpler, you can use advanced tools like a user-friendly "Request a Quote" button and a quote management system. These tools simplify the process, help you pay attention to detail, and maintain transparent communication with your customers. One tool that can make your work easier while still being professional isQuote Snap - Request a Quote, Hide Price. If you're interested, you can request a demo or sign up now to see the amazing benefits for yourself. We guarantee you'll be pleased with the results!

    Download Request for Quote to hide price and manage quote

  • Quote to cash: How to push your cycles faster

    Every business, big or small, relies on a consistent and reliable sales cycle to generate revenue. However, the sales process can often be complex and time-consuming, leading to lost opportunities and delayed revenue. This is where the "Quote to Cash" (QTC) process comes in, providing a streamlined solution to improve the efficiency and effectiveness of the sales process.

    What is Quote to Cash?

    A quotation process starts right at the moment when your prospective buyer shows interest in your offerings and asks for a quote. A sales quotation process can be simple or complex, depending on the depth of your offerings and the type of organization. 

    The Quote to Cash (QTC) process is a workflow that encompasses all the activities required for a business to generate revenue, from the initial quote to the final payment. The process involves several stages, including quoting, contract management, ordering, invoicing, and payment collection. By integrating all these stages into one streamlined process, QTC helps businesses accelerate their sales cycles and improve their cash flow.

    How Quote to Cash improves sales cycles

    The QTC process offers numerous benefits for businesses looking to improve their sales cycles. Here are some of the ways that QTC can push your sales team into faster sales cycles:

    Streamlined workflow

    By integrating all stages of the sales process, QTC creates a unified workflow that simplifies the entire process from start to finish. This means that sales teams can quickly move from quoting to closing deals, leading to faster sales cycles and improved revenue generation.

    Improve accuracy

    The QTC process reduces errors and ensures that all information is accurate and up-to-date, reducing the need for manual intervention and improving the overall efficiency of the sales process. This accuracy also increases the likelihood of closing deals, as customers are more likely to trust businesses with a reliable and accurate sales process.

    Increase visibility

    The QTC process offers increased visibility into the sales process, allowing sales teams to track deals, monitor progress, and identify areas that need improvement. This visibility helps businesses make informed decisions and adjust their sales strategy accordingly, leading to improved sales cycles and increased revenue.

    Enhance customer experience

    By streamlining the sales process and improving accuracy, QTC also enhances the customer experience. Customers appreciate businesses that offer efficient and accurate sales processes, and this can lead to increased customer loyalty and repeat business.

    Implementing Quote to Cash

    To implement QTC effectively, businesses need to consider the following steps:

    Evaluate the current sales process

    The first step in implementing QTC is to evaluate the current sales process and identify areas that need improvement. This evaluation should consider factors such as the length of the sales cycle, the accuracy of the information, and customer feedback.

    Choose the right QTC solution

    Businesses need to select a QTC solution that meets their specific needs and integrates with their existing systems (ERP or CRM). QTC solutions vary in terms of complexity, features, and cost, so businesses should carefully evaluate their options before making a decision.

    You need to collect quotes from your online website with accurate information so your sales team can handle it seamlessly.

    Train sales teams

    To ensure successful implementation, businesses should provide training to sales teams on how to use the QTC solution effectively. This training should cover all aspects of the QTC process and include best practices for optimizing the sales cycle.

    Note: You can invite up to 10 members for handling your quotation requests together.

    Monitor and improve

    Once QTC is implemented, businesses should monitor its effectiveness and continuously improve the process. This may involve making adjustments to the sales strategy, updating the QTC solution, or providing additional training to sales teams.

    Conclusion

    The Quote to Cash process offers a powerful solution for businesses looking to streamline their sales cycle and generate revenue more efficiently. By integrating all stages of the sales process, improving accuracy, increasing visibility, and enhancing the customer experience, QTC can push your sales team into faster sales cycles and improve your bottom line. To implement QTC effectively, businesses need to evaluate their current sales process, choose the right QTC solution, train their sales teams, and continuously monitor and improve the process.

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