Follow-Up Ideas to Improve Your Quote Win-Loss Ratio
Last week, I received a call from a printer asking how the firm could better follow-up on quotes. The caller explained how the company spends so much time getting the opportunity to quote that it is critical to be available to help customers through the final stages of the decision process. The problem was that the company did not have a reliable, predictable follow-up process.
Maybe most printers may have this covered, but these thoughts may help you refine or improve your process.
We may think customers and prospects prefer we sit tight and wait rather than following up, but customers appreciate follow-up for several reasons. They may:
1) have a question about the quote and need clarification,
2) be procrastinating and need a little encouragement or help to make the project easier to implement, [Maybe you can help them.]
3) have lost the quote document and need you to resend it and maybe assumed you are no bidding the project, [Ugh!]
4) like you, but another printer is following up better and they may feel guilty not giving it to them, or [Early bird gets the worm. Squeaky wheel gets the attention.]
5) have some changes to the scope of the project and they have questions for you. [Maybe they are going in a different direction and not sure you can do it.]
While it is a numbers game, the win/loss ratio will improve with a little TLC. Many customers appreciate follow-up. If you do well in the quote process and deliver superior product and service, you have a winning combination to share.
Open quotes typically fall into three buckets:
1) The project is delayed.
2) The project isn’t going to happen.
3) They gave it to someone else.
For the most part, you can control two of those three reasons by understanding the reason for the delay and offering advice, or understanding what you need to do to win over your competition.