Deliver Accurate, Detailed & Consistent Quotes to Seal More Deals
Customers happily contact you because of your marketing tactics and product-led growth (PLG) strategy also, your prices and discounts are lucrative for them. However, they do not seal the deal. The conversion rate is not satisfactory!
What to do?
There is no mistake in the marketing campaign otherwise the customer would not have come at all. Even the sales team is doing fine.
What needs to be part of your strategy is the quote-to-cash process. Provide your customers with accurate, detailed, and consistent quotes that will help them understand clearly what you have to offer them.
Also Read: Optimize Quote Management for Enterprises & Lock Maximum Subscription Business Deals
Essentials of Quote-to-Cash (Q2C) Workflow
Coming towards what should your quote look like that can ensure the sealing of a deal, there are a few things that you cannot neglect.
1. Pricing for the SaaS
The foremost thing is the price of the SaaS platform that you offer your potential customers. You need to be very clear about the pricing of the SaaS product. Mention clearly if you are going to offer any discounts or offers.
For instance, sometimes companies mention the price that does not cover the taxes or the price for the add-ons or training that they are going to offer the customers. Such tactics can lead towards losing not only the customers but the revenue as well. So, be very clear while mentioning the price—the most important part of the SaaS sales quote.
2. Expiry of the Quote
Every quote is sent with an expiry. The basic purpose of the quote is to give the customer a complete understanding of your price and the SaaS pricing policy. However, the currency rates change, the financial conditions vary, and economic regulations also amended with time. Thereby, there must have an expiry on every quote that you generate. Your targeted leads receiving the quote will know that your offer is for a limited time.
3. Customer Interest
Other than basic credentials, the language that you use in the quotes must be enticing enough. Include all points of interest in the quote that can lure your customers. Mention the discounts in the quote for they always attract customers.
You have done your part.
Let SubscriptionFlow take it from here!
subscription management software.
Also Read: How to Formulate an Ultimate Onboarding Strategy to Get Happy Customers
Quotes Vs Estimate
The prime difference between the quote and the estimate that you need to keep in mind while writing the quote is that the estimate is changeable. There is a margin of change in the estimate forwarded by companies. However, the prices that the SaaS businesses mentioned in the quotes are fixed. That’s the reason large enterprises always ask for quotes when they need to buy a SaaS platform.
Also, the quote is a formal way to communicate prices with your incoming customers. There are not just prices but the entire pricing plan that you can tell in the quotation. If you want to establish a relationship of trust with the new customers, then you need a proper SaaS sales proposal—quotes. And here is how SubscriptionFlow can help you:
Quote-to-Cash Workflow with SubscriptionFlow
When it comes to quote-to-cash with SubscriptionFlow, the workflow will be like this:
- You can choose the template for the quote. Adopt one that will suit the layout of your business.
- Now just insert the information as per the template and send this quote to the targeted customer.
- You can download the quote in the form of a pdf.
- If the customer accepts the quote, the SubscriptionFlow automated system will automatically take you to the subscriptions.
- Also, the system is flexible enough to allow you to make adjustments to the quote in case the quote gets rejected. When amendments are done, you can resend it.
How Quote-to-Cash Streamlines Your Sales Process
Coming towards the importance of the quote-to-cash process, we will tell you why it is important for SaaS businesses:
- Automated quote generation will lessen the burden on your sales representatives and sales team.
- The sales cycle will shorten itself, and you will be able to crack deals comparatively quickly.
- The flow of revenue will not only increase but things will be streamlined as they have never been before.
- The opportunities for cross-selling and upselling become diverse.
- You can also monitor the customer journey as well as sales analytics so that you can not only get customers but keep them retained as well.
Also Read: The Role of Customer Success in the Subscription Business and How to Embrace It to Excel?
Conclusion
Quote-to-cash (QTC) is not only for sales but also for a streamlined flow of revenue. If you are in the SaaS business, and you want to convert large enterprises, then consider SubscriptionFlow for quote-to-cash. We offer you everything from a quote management system to subscription handling. Schedule a demo with SubscriptionFlow and get quote-to-cash management.
