Request for Quote/Proposal is a great function that has been implemented into many famous eCommerce websites to provide a better user experience. We consider it to become a new trend for marketplaces that helps to make direct interactions between sellers and customers.
So, what is the Request for Quote and the Request for Proposal? During the customer journey, how could requesting help your customers? Should you apply it on your online store?
Let’s find out together!
What Is a Request For Quote?
This way, the customers can choose a product/ service from the store, or create their own request for product/ services and send relevant quotes to the sellers. Using the purchase journey as the point of view, the customers must’ve known what they want and what they need, especially after consulting with the vendor directly.
To find a price that suits both their needs and budget, the customers begin to send quote requests to the sellers.
A complete Request for Quote (RFQ) will include buyers’ requests for the product/service and the desired product price. RFQ is essentially similar to an invitation to bid. The customer sets the desired price and sends the seller a list of the requirements. The purpose of the RFQ is for the two sides to reach the necessary consensus, reach the RFP and ultimately make the purchase decision. If you’re a store owner, please carefully read the terms, requirements and expectations of your customers as well as make sure your product/service meets their needs.
At the same time, you have to ensure your customer’s desired price isn’t out-of-range from your already-set selling price for the particular product/service. As a buyer, you should be certain that the outgoing RFQ contains all of your requirements: the functionality, colour, size, etc.
Also, do not forget to include information regarding the desired price as well as any terms if there’s any.
Take an example of the AreaSafe project, an Australian-based Multi-Vendor selling urban furniture, safety signs and other street infrastructure products. The specificity of the site is that an order should often include customer preferences for the size, color, or complete set of the final product.
A good practice is to include information about requesting a quote in the FAQ section so that customers could feel more confident in placing their quotes. The AreaSafe project has considered this option and even attached a video about the RFQ process on their site.
When placing an order or requesting a quote through the cart checkout on our website, it gets submitted to our sales department. One of our friendly sales consultants will then get in touch with you to confirm details of your quote and calculate the best shipping rate possible. You will get a confirmation email immediately after you have submitted your order/quote request. Stand by the phone as one of our highly trained sales consultants will be in contact with you within 2 business hours after submitting your order. Once confirmed if you are wanting to proceed, you will then be able to pay for your order using either credit card, EFT or your Area Safe trading account.https://www.areasafe.com.au/faqs/
The more complete your request is, the more satisfaction you get from the seller’s reply.
Request for Proposal
However, in specific cases, if the buyers are facing difficult problems and require a thorough product understanding as well as a break-through solution, they would like to receive advice from the seller. In this case we can talk about the Request For Proposal. Most often, this case occurs with B2B customers due to the extensive product quantity and strict product requirements of their orders.
The purpose of Request for Proposal (RFP) is to give the buyer a more detailed insight into the problem they are facing, which leads to a better understanding of its solution. As a customer, when requesting for a proposal, you need to be as specific about the problem you are facing as possible.
However, if you’re a store owner, please consult a team of highly qualified and experienced professionals. Together, try to build the best solution for your customers to fulfill their needs. Also, please keep in mind that at this step in the buying process, your customer is almost sure to buy your product/service, which means they require the most attention from you.
Are you ready to take your business to the next level?
About the Author
Evgeniya Fokina is a Sales Manager at Simtech Development. She provides consultancy to eCommerce project owners trying to find the best solution in every case. In her spare time, she likes writing, going outdoor and travelling the world. Evgeniya is a passionate person striving for self development in all aspects of life.