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The sales team of every business has the predominant task of converting leads into customers. A sales proposal is one document they use as a means to achieve this. A sales proposal is not just a product description document, there is more to it.
This blog delves deeper into the key components of a sales proposal and tips to crafting a killer proposal.
What is a sales proposal?
A sales proposal is a document used to pitch your products/services to the prospective client. It includes various components that can add value to the client by offering a solution to their challenges.
A sales proposal should be able to convince the audience to move from being a prospect to a customer. How do you create such a proposal that wins? We have listed some strategies to help you prepare a stunning sales proposal in this blog.
The main components of a sales proposal
Structuring your sales proposal to include the following aspects is key, since this is the basis through which you attract leads. These are essential aspects that provide the impetus for the leads to move further in the sales funnel. Some of the components are:
1. Company information
Basic details about your company and its history can give an idea about whom the leads will be dealing with. It will help potential customers analyze if their goals will be met by purchasing from your brand.
2. Executive summary
This is a crucial component that will captivate the audience to your business. It provides information about the solutions available to address the customer’s pain point. This enables the potential customer to choose your brand over others.
3. Unique selling proposition
What makes your brand unique, and why should the client choose you? This section sets you apart from the competitors and provides the clients with a reason to purchase.
4. Pricing information
A sales proposal should contain detailed pricing information about each product offered. There shouldn’t be any hidden costs that are not disclosed in the sales proposal.
5. Product details
An overview of the products/services offered should be provided in the sales proposal. This helps the clients understand the nature of products and whether the same would be useful to them.
6. Timeline
This section should provide the general timeline needed to deliver the product/service. Any clause to provide for reasonable delays should also be included in the proposal.
7. Social proof
Some sales teams also include social proof along with their proposal. This can be testimonials from clients who are in long term association with your brand. Including social proof can create a positive brand image and convince the audience to buy.
8. Additional information
Any other additional information can be provided as an attachment to the sales proposal. For example, point of contact details in the sales team can be provided, as this can help the client reach out to the right person to proceed with the purchase.
11 Tips for crafting a winning sales proposal
To create a sales proposal that persuades the audience to buy your products/services, you should follow certain strategies. We have listed some of them for you here:
1. Understand your prospects
Your product/service solves a pain point of your prospect. Your sales proposal should hence be drafted in such a way that the prospect finds his need addressed.
Understanding the prospect helps draft the proposal effectively. Your initial research helps develop a deeper knowledge of your audience’s needs. So, before presenting the proposal, analyze if your research has correctly identified the problem statement.
If the prospect feels that your proposal does not seem to offer solutions to the challenges, they may neglect it.
2. Create an engaging title
The title of your proposal should be attractive to catch the attention of your audience. The client should feel that the proposal contains a solution to a specific problem just by reading the title.
The title should be a summary of the entire proposal and not be just another heading. It should be accurate and simple.
3. Choose the best tone
Make sure the tone of your sales proposal is conversational. It should engage with the audience and induce action. A formal tone without any personalization will not help convert the prospects.
The tone should resonate with the goals of your audience. This way, they can connect with your brand and proceed with their purchase decision. A winning sales proposal will have all the essential components and carry the perfect tone.
4. Include a crisp executive summary
An executive summary is an important part of your sales proposal that shouldn’t be missed. Rather than being just a summary, it should include aspects that project your brand as the only solution for the client’s pain points.
Your executive summary should indicate to the prospect that you have understood their challenges and have a workable solution ready. You should present facts that talk about how your product/service can handle their challenges efficiently.
A well-focused summary can be an attention-grabber and easily win your audience. Remember, your clients are focused on the results.
5. Use templates
Crafting a selling proposal involves putting down a lot of details. This can take up a lot of time. To help you save time, you could use templates that look professional and serve the purpose well.
These templates can be tailored to suit different clients without many changes. Templates make your task easy and thereby help focus on the prominent aspects to be covered. There are many sources available online where you can create a sales template suitable for your brand.
For example, the following template has all the elements like the approach of the company, terms, pricing, challenges, pricing executive summary, deliverables, etc. The template may be modified with unique content for each prospective client.
6. Be clear about the scope
Be clear about what you can commit to in your proposal. Just to attract attention, you cannot promise things that are beyond your scope in your sales proposal. The sales proposal is a document that helps prospects understand what you can offer and base their purchase decisions on the same.
Not being clear about your scope or misrepresentation of scope may spoil the relationship with your client.
7. Create an outline
Before you proceed with the fair copy, prepare an outline as a checklist of things to be included in your sales proposal. This provides a structure to create a catchy sales proposal. You can be clear about the things to be included.
Once the structure is ready, organizing the information under each head becomes easy. A simple outline should contain the scope of work, pricing, terms, and the unique selling proposition. An outline helps in prioritizing the components of your proposal and avoids missing out any detail.
For example, observe the outline below. It has all the elements to be included in the proposal document.
8. Mention the budget
Budget is the key aspect that is included in a sales proposal. Though you may address the pain points of the client, your services should also be within their budget to choose you. Pricing details should be clearly mentioned without any ambiguity.
The terms of payment and timeline for payment should also be included so that the prospects can analyze if it is within their scope. If the clients can associate value with the cost you have mentioned, they will choose your brand even if they have to shell out a little more.
9. Draft the proposal
You have the template and other information ready, and it is time to draft the proposal. Prepare a proposal that can instantly hook your audience.
Make sure to include aspects according to each client so that your proposal stays relevant.
10. Review and edit
Once your draft is ready, you should review it and edit it to include any changes. Since the proposal is a crucial document based on which the prospects take the purchase decision, it is important to review it carefully.
Ensure that all information that you researched matches with the final document. Remove any inconsistencies and keep the sales proposal ready to be sent to the client.
11. Send the proposal and follow-up
The final tip is to send the proposal to the prospect and wait for feedback. The proposal should be sent to the right person in the client team. Include a cover letter thanking the prospect for their time.
Also, add contact details the client should revert to in case of any questions. Include a mechanism for feedback in the email through which you send the proposal so that it is easy for the prospect to fill out the form and get the doubts clarified.
You can make necessary changes to the proposal based on the feedback you receive.
For example, below is a sales proposal from Zendesk. It starts with an executive summary, presents the company info, and then moves over to the proposed solution, pricing, etc.
Conclusion
You have learned the strategies that can help create a winning sales proposal. Since the sales proposal is a critical document, it needs attention to detail. With this, you can stand apart from your competitors and be available as a strong choice for your prospects.
Make use of templates and personalize your sales proposals to create an impact. Also, do not forget to follow up, as it may provide vital information on things you need to modify in the proposal.
