When pitching sales to clients, several documents must be prepared. One of these documents is a sales proposal. The sales proposal is important because it communicates the value of a product or service to potential buyers.
What is a Sales Proposal?
A sales proposal is a written document that shows your product or service to a potential buyer or client. An effective sales proposal tells potential customers how a product or service can meet their needs and help solve their problems.
This document also contains detailed information such as the costs to be incurred by the prospective buyer, the number of goods to be shipped, and how to use it. This ensures that consumers are well informed before buying a product or service.
A good sales proposal has three major characteristics, namely:
- Educating potential customers about the latest products or services.
- Providing convincing arguments about why consumers need a product or service.
- Showing the return on investment that consumers can get when they buy a product or service
Usually, people who use sales proposals are members of sales teams, agencies, and consultants.
Benefits of Sales Proposal
1. Respect customers
When making a sales proposal, you must do market and consumer research first. That way, you can find out the needs of potential customers. Potential customers will feel appreciated with a complete proposal that can answer their needs.
2. Convincing potential customers
A sales proposal document tells the problems faced by consumers based on the results of market research. Then, you can offer the best solution to the consumer in your proposal. That way, your customers can imagine how their problem is solved through your product or service.
3. Encouraging potential customers to make purchases
When consumers understand the benefits of your product, they will make a purchase for your product or service. Especially when you provide detailed information about costs to how to use your product or service. That way, your sales success rate will improve, increasing company profits.
Elements of sales proposal
The length of the sales proposal can vary. According to Indeed, here are the 5 essential elements of a sales proposal.
- Executive summary: A complete summary that outlines your product or service and the benefits consumers can get when they use it.
- Thorough and easy-to-understand explanations: The length of the proposal depends on how technical your product or service is. Nonetheless, make sure you explain your product or service thoroughly using easy-to-understand language.
- Reason to buy: A sales proposal is a persuasive document. So, list the benefits that could be the reason why consumers should buy your product or service.
- Steps to make a purchase: Include the steps that tell consumers how to buy a product or service. This makes it easier for them to accept your pitch and make a purchase.
- Effective proposal design: Make sure your proposal has a neat format by using headings and bullet points to organize the information in your proposal.
How to Make a Sales Proposal
1. Do Research
Before writing a sales proposal, make sure that you know your customers well. Therefore, do market and consumer research.
By knowing market conditions and getting to know consumers, you can find out what problems they are experiencing and their needs.
You can also do competitor research to find out their advantages and what can be improved on your product or service.
You can include this information in your sales proposal. So, your proposal will appear convincing to potential customers.
2. Create an Outline
Regardless of the prospect's needs, a sales proposal usually contains some or all of the following outlines.
- Title, front page, and cover letter
- Company background
- Challenges and goals/outcomes
- Solutions offered
- Timeline with important dates
- Case study
- Client testimonials
- Terminology used
- Section for the selected solution, signature, and date
3. Write and Create List
You can turn the outline above into several subtitles to help you write a sales proposal.
When writing, be sure to include information that is most relevant to your prospect, such as offering a specific benefit that can meet their needs.
Also, ensure that your proposal highlights your product's or service's unique selling proposition (USP).
4. Edit and Proofread
When you're done writing, don't forget to edit and proofread the sales proposal to ensure there are no typos or missing information. Not only that, but also make sure that the information in the proposal is relevant to the interests or needs of consumer prospects.
That is some information about sales proposals that you should be aware of. In essence, a sales proposal is very important to have and convey, especially when pitching a product to potential customers or clients.