Lets analyses this situation.
1) Why do your client wants a formal quotation?
a) because they want you to honor what you says
b) because they want to confirm the sales
c) because they need to submit to the higher management for approval
d) because they needed "THREE" quotations for comparison
e) because they want a way out from the sales pitch
There may be many more possibilities for wanting to get a formal quotation.
Answers (a to c) are very common. In my opinion, they are valid and fair. What I dislike most is answer d and e. Have you ever been strapped in such situation, wasting your time and effort in servicing the client?
DO NOT FEAR. As an Entrepreneur myself, I often meet these situations and along the years, I have some tactics to handle it.
Scenario: "because they needed "THREE" quotations for comparison"
This is very common in the business world, especially with big organization. Most companies or agencies have their own policies governing the needs for "THREE" quotations. For example, if the quoted amount exceeded certain limit, then they may need a few more quotes to compare. This is very fair if this is the reason. What happen if this is not the underlying reason? To handle the problem, we must first understand it.
- Internally, they may have already "set on" using a particular supplier. They just needed another quote in accordance to their policy of getting quotation and justifying it.
- They needed your quotation so that they can use it to pressurize other suppliers for better price.
- They need your "professional" contents in the quotation so that they know the correct term to ask from other supplier.
- Build a relationship with the requester if the deal means a lot to you
- Be frank and say "I want the deal", how to "confirm" the deal?
- Ask them about their budget. Do not be afraid to ask the golden question "I can do it at your price. Can you confirm the business?"
- Show them you care about them and advise them to precaution on some unscrupulous tactics used by the industry (this way, you create a fear back to them).
They simply want a way out. After they received the quotation from you, they will act blur, delay and give all kinds of reasons for it. You are wasting your effort and chasing them like a "mad-dog" for the approval and confirmation.
What shall you do then?
- Be reluctant to give them the quotation. Prompt them to chase after you for the quotation
- Hint to them that you can only give out a quotation upon any positive verbal confirmation
I need to put up a disclaimer. I am not saying that this will work miracle. There may be other factors affecting the confirmation as well. Please comment and share your views. Lets help one-another.
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