By Sid Chadwick
“When the great scorer comes to write against your name, he marks not that you won or lost, but how you played the game.”………………..Grandland Rice
INTRODUCTION:
We’re only talking about --- improving your “Quote-Hit Ratio” --- over…. 50%..........
As I was reviewing my client’s Quote Log Spreadsheet, a request from a different West Coast client --- popped-up in my email:
“Do you have a Quote Log Spreadsheet we could study…. and then implement?”
A Sample “Quote-Log Spreadsheet” --- should be at the bottom. Here are the elements I recommend (from left to right):
- Quote #, Status, Date-In, Time-In, Date Due, Date Out, Time Out: Should be self-explanatory. Note: “Status” -- can be designated by (J = Job; O = Still Open; L = Lost)
- Customer Name, Description of Job Quoted, Expected Award Date, Delivery Date, Job #: Should be self-explanatory.
- Estimated Quote $ Value. What was quoted, in $’s
- Value-Added $’s (Not Shown --- But should be included): If we produce the job, what are the $’s available --- to negotiate --- to contribute to company overhead, labor, bottom line etc.
- Follow-up Date: When should the first follow-up call occur --- from our Inside Sales Rep, and to whom.
- Follow-up Notes: As recorded by a skilled and experienced “Inside Sales Person” --- perhaps the most valuable information, long-term --- and can include --- (a) why we won/did not win the work, (b) changes in specs, (c) negotiating information, (d) next opportunities expected, (e) information that Buyer would like/did like, (f) what next communications should include (including when), (g) was “Thank You” note written.
SUMMARY:
Yes, this “system” serves a “transactional process” --- there’s significant transactional print bought --- (though we frequently encourage “Long-term Agreements).
My fairly consistent experience is that --- if this process is implemented by an experienced, thoughtful, and somewhat skilled person --- and --- reviewed and discussed with a supervisor, frequently --- the impact is an --- “Increase in Quote Hit Ratios” --- of over 50%...!
Importantly --- that last section, “Notes” --- allows for the accumulation of forward-looking information, including --- the ability of the purposeful supplier --- to pre-empt --- the entire purchasing process.
Yes……we have clients --- who swear by this process…..!
“For of all sad word of tongue or pen/the saddest of these, It might have been”…………………...John Greenleaf Whittier
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