Writing detailed and well-structured business quotes is a surefire way of convincing interested customers to hire your services while also attracting more customers and growing your business. It ensures that you and your clients are on the same page and helps you break down what’s needed for the job at hand. Additionally, quotes indicate the kind of electrical installation tasks you’ll handle, the price for each line item, and the method you’ll use.
Good quotes land jobs, however, creating them is a practiced skill and there are some key elements that you can include that will increase your chances of winning jobs.
Here are seven tips on making quotes that will help you win more bids:
- Use electrical contractor software for accuracy
- Provide essential information about your business
- Add your prospective client information
- Include the quote’s reference number
- Indicate the date of issue and the expiry date
- State the terms and conditions
- Outline any additional details
1. Use electrical contractor software for accuracy
Instead of preparing quotes manually, use automated electrical business contractor software, like Jobber. This will significantly improve the accuracy and professionalism of the quotes you send to clients.
Giving accurate prices for the different line items makes your clients trust your expertise and is an effective way of convincing them to hire you. Ensure you are realistic with the level of expenses required at that it meets your required level of profit margin
The software will help you achieve this as it can intelligently produce quotes based on similar past jobs. It eliminates the need to look back through old paperwork manually and you can much more easily update material costs which can fluctuate regularly, and estimated job durations for projects on a similar scale. By using resources such as this free downloadable electrical contractor estimate template, you get to:
- Create professional-looking estimates that impresses your clientele and helps you win more jobs
- Quickly customize your quotes for each job
- Keep track of the estimates once sent
- Easily convert the quote to an invoice for prompt payments
- Reduce the occurrence of errors associated with manual quotation methods (1)
2. Provide essential information about your business
Aside from the prices, clients are more confident with quotes if they include all the essential information about your business. Information to include are:
- Your business name and logo
- Physical location
- Email address
- Telephone number
This gives the client some assurance that the quote is actually coming from you, and not just a generic template from some unknown source.
3. Add your prospective client information
Including customers’ information in your business quote also makes it look more professional. You can mention conventional data like:
- Recipient name and address
- Email address
- Telephone number
- Company name
4. Include the quote’s reference number
Giving your quote a unique reference number is essential to you and your client. It enables you to effortlessly identify the quote in question, especially if you modify your quote or provide a new one. Also, it gives you an easy time when tracking your quotes and eliminates confusion.
5. Indicate the date of issue and the expiry date
Noting the date you send your quote to potential customers enables you to price your electrical products and services effectively. With time, factors such as supply and demand rates change, and so does your pricing. For instance, if the supply exceeds the demand for a good or service, the prices fall. Conversely, when the demand exceeds the supply, prices go up. (2)
Furthermore, you need to include an expiry date. This shows that your offer is limited to a particular time range. For instance, you may give it a reasonable period of 20 days from the day you issue it. This lets your customers know the amount of time they have to approve or dismiss the quotation. Thus, you get faster responses. You may consider sending a polite reminder before the expiration date to your clientele.
6. State the terms and conditions
Including a clear terms and conditions section in your quote makes it look better. It ensures your clients know the rules they ought to abide by while doing business with you. This goes a long way to establishing good customer service since there’ll be no unexpected frustrations. Also, it legally binds the contract between you and your customers, thus protecting you in case a dispute arises in the future. Some terms and conditions you’d want to include are: (3)
- The payment methods you accept
- Any deposit customers may need to make
- The time you expect clients to make their payments
- Expenses of extra work, if applicable
- Any unpredictable changes in the project
7. Outline any additional details
For your quote to stand out, you’d want to add any extra information you’d like your customers to be aware of. For instance, if there’s any possible decrease in price, you may consider adding it. This further convinces clients to choose you, hence you get more jobs. Other things you may add here include:
- A sign-off section
- A discount, if you’re offering
- The time customers should expect you to complete a particular task.
- A gratitude note thanking clients for allowing you to quote for them. You can also indicate that you’re ready and willing to work with them.
A good quote increases the chances of potential clients deciding to work with you. By remembering these tips on drafting comprehensive quotes, you will have an edge over competitors during the bidding process, allowing you to land more contracts.
- “6 Advantages of a Sales Quoting Software”, Source: https://medium.com/ecommerce-platform/6-advantages-of-a-sales-quoting-software-8b0e395f925e
- “How Does the Law of Supply and Demand Affect Prices?” Source: https://www.investopedia.com/ask/answers/033115/how-does-law-supply-and-demand-affect-prices.asp#:~:text=It’s%20a%20fundamental%20economic%20principle,services%20when%20demand%20is%20unchanged
- “Why your business needs good terms and conditions”, Source: https://www.forbessolicitors.co.uk/news/45129/why-your-business-needs-good-terms-and-conditions