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Improving Your Sales Proposals, Part II
March 05, 2008
12 more ways to revamp your proposal creation process
By Jeff Schmitt
In Improving Your Sales Proposals, Part I, we discussed how teamwork, strategic planning and visual flair can enhance your proposals' effectiveness. But there are some other things you may want to keep in mind when creating a quality draft.
Here are 12 additional ways to get results:
1. Easy to Read
Writing is like feeding an infant: If you dump too much food on a spoon, it'll end up dribbling down the child's chin. In writing, the sentence is your spoon and your ideas are the food. Make your ideas easy to swallow, by keeping your sentences succinct. Otherwise, you'll potentially lose clarity and tax your reader's concentration.
2. Use Examples
When prospects are reading your proposal, they are often looking for proof. Establish your credibility by backing up your assertions with empirical data and real life narratives. For example, use before-and-after data or percentages from comparable clients to demonstrate ROI. Similarly, incorporate case studies to show your solution and team in action. Illustrate, step-by-step, how you solve problems. Make it real.
3. Get Feedback
Share your proposal with individuals outside your sales department. Get their feedback on the accuracy, fluency and effectiveness of your proposal. Often, you'll learn new applications and benefits of your solution. At worst, you'll end up correcting out-of-date or erroneous information.
4. Volume of Information
As a rule, you don't want to share too much information. You'll risk giving away trade secrets in proposals and prospects may then share them with favored competitors to drive down prices or prompt concessions. In preparing your proposal, ask yourself these questions:
• What is my objective? Am I looking for a return call; a face-to-face meeting; site visit; or test?
• How complex is the prospect's challenge? How intricate is my solution and the process needed to implement it?
• How far am I in the sales process? What steps are necessary before I can seal the deal?
• How much information is required to assuage their underlying concerns and exceed their expectations?
5. Creative Pricing
You want a competitive price point but you don't want to lose your shirt while distinguishing yourself from competitors. In pricing, look at offering volume incentives, such as rebates or reduced rates. Do you offer alternative solutions or value-adds such as extra features and training? If so, quote special rates on these options, to potentially broaden your revenue stream in the future. Even more, identify where you're open to concessions early, to prepare for later negotiations. Don't be afraid to use "To Be Determined" for pricing certain services that require additional data. You can always position their value or even concede them later in the process.
6. Summarize
You cannot assume your prospect will read every word or sentence. Chances are, they have five to 10 other proposals to read. As a result, you'll want to insert a summary page at the end of your proposal. List your most potent arguments in bullet point format, followed by one or two supporting statements. This summary provides an easy reference and helps readers better absorb your full pitch.
7. Proofread
Spelling and grammar errors are like specs on a windshield. You can't peer out without your eye being drawn to them. These errors reflect a lack of discipline and attention to detail. They undercut your corporate image and cast doubt on your team's credibility.
8. References
Never take your biggest supporters for granted—particularly when they serve as emissaries for your brand. Have you stayed in touch with individuals who act as references or offer testimonials in your proposals? Is your solution still working well for them? In short, what have you done to connect with and motivate these resources?
9. Follow Up
There is an adage that the definition of insanity is "doing the same thing over and over again and expecting the outcome to change." Even when you don't close the sale, former prospects can help you learn from your mistakes. Make a follow-up call. Find out what worked and what didn't in your proposal. Uncover the reasons why you weren't selected. Afterwards, send correspondence to stakeholders sharing "lessons learned."
10. Archive
Keep a master document of company facts and figures, answers to commonly-asked questions, case studies and testimonials. Use this document as a starting point in composing responses. Update it with each new proposal. Review the master on occasion to ensure the information is still correct. Similarly, examine your brochures and Web site to ensure their contents are aligned with your master.
11. Know Thyself
There is a sports axiom that the best trade is sometimes the one you don’t make. In business terms, recognize that some opportunities may not fit your organization. That's why it's critical to know what sets your company and solution apart. Just as important, recognize those traits intrinsic to your best clients. Always ask yourself, "Does this prospect fit the model?" Aside from your financial condition, this should help clarify the time and energy to devote to a potential account.
12. More Steps
Sales is a people business. It requires a personal connection that abstract proposals cannot replicate. In your proposals, include a call to action. Express your intent to follow up and extend an invitation—such as dinner—to further build the relationship. A sales proposal is simply one step. After that, it is your experience, savvy know-how and relationship-building skills that determine whether you win the contract.
Jeff Schmitt is a Marketing Consultant from Dubuque, IA. His e-mail is jschmittdbq@mchsi.com. This article originally appeared in The Tri-State Business Times, a monthly business magazine published by Woodward Communications (www.wcinet.com) and has been reproduced with theirs and the author's permission. It has been edited for length.
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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