As you can see, these quotes are different. But they get the information needed to deliver the quote. It's clear what the customer expects and how much it'll cost.
Get Legally Binding Acceptance of Your Quote
As mentioned above, a quote isn't legally binding until it is accepted by both parties. Here is the process to make a quote legally binding.
While handshake agreements and verbal contracts are binding, provided they encompass consideration and acceptance from both parties. The challenge lies in enforcing them due to the difficulty in proving their existence. While a verbal contract holds legal weight, the lack of tangible evidence often makes it hard to demonstrate that an offer was made or accepted.
It's much safer to get written acceptance of the quote from the client. This can be in the form of a signed document, an email confirmation, or a formal acceptance letter. Ensure that the client explicitly states that they accept the terms and conditions of the quote.
Clearly communicate the process of acceptance to the client. Inform them that by accepting the quote, they are entering into a contractual agreement. This can be included in the quote document itself or a separate communication.
Include detailed terms and conditions with the quote. These should cover payment terms, delivery schedules, cancellation policies, and what happens in case of changes to the project scope. Make sure the client has access to these terms when they are making their acceptance.
In some cases, asking for a deposit or an advance payment upon acceptance can serve as a confirmation of the agreement. This not only secures a commitment from the client but can establish the acceptance as legally binding.
Keep a record of the acceptance. If the acceptance is in the form of an email or a letter, save a copy. If it's a verbal acceptance, follow up with a written confirmation summarizing the conversation and request a written acknowledgment from the client.
Once you receive the acceptance, send a confirmation communication to the client. This could be a thank you email, a formal acknowledgment letter, or a contract agreement reiterating the terms and the fact that the quote has been accepted and is now binding.
Ensure that your quote and acceptance process complies with relevant laws and regulations. This will vary depending on your industry and location.
If you're unsure about the legalities, or if the project is particularly large or complex, it might be wise to consult with a legal professional to ensure that your process for acceptance is legally sound.
How to Get Price Quotes Accepted
Quoting a price for a prospect means you're trying to close the sale. It's crucial to make a good impression on any potential clients.
Your price quoting process can convert clients or scare them away. The former is the preferred outcome for any business owner.
A quoting strategy can help you maximize sales and boost profits. Here are 5 tips for getting quotes accepted.
Ensure quotes are professional
Use our quoting software
Send quotes quickly
1. Ensure quotes are professional
Professionalism ensures you make a good impression on prospects. Your quotes should look the part because they represent your business.
But there's more to professional quotes than looking good.
The best price quotes are clear, accurate, and brief. Yet they're comprehensive and cover everything the potential customer needs to know.
Professional quotes address customer expectations and help you close more deals.
2. Use our quoting software
Yes, this is a shameless plug. We know our software is incredible for quoting, among other uses. Thousands of businesses use our software to automate their quoting process and grow their business.
Embed a quoting tool on your website - do business 24/7. And it's way faster than manual quoting, allowing you to streamline the entire process.
A construction company can use our building cost calculator template and start getting quotes in minutes. Automating the process saves your business time and effort.
3. Send quotes quickly
You don't want to mess around when it comes to quoting a price. It's best to process quotes within 24 hours.
People usually request a quote because they're ready to buy. They only need to see if the price suits them - don't let the lead cool.
Price quoting software is perfect for this. Prospects can get a price instantly.
4. Quote follow-ups
Following up with potential customers is vital for closing sales. But doing it too soon can come across as pushy.
Two or three days is a great timeframe for following up on leads. That keeps your front of mind without being too forward.
Again, price quoting software is perfect for follow-ups. You can automate emails to reach out to prospects who request a quote.
Requesting feedback helps you identify any issues with your quoting process. Maybe the quote wasn't clear enough. Maybe you followed up too soon.
Whatever the problem, asking questions pinpoints it. You can use the feedback to improve your price quoting.
Better processes = more sales.