We recently surveyed distribution industry professionals about their targeted marketing practices and the results are in.…
Tips and Tricks: Close More Open Bids and Quotes
Companies that actively track and follow up on open bids/quotes close 25% more business than those that don’t.
Close 25% more bids/quotes – simply by turning on SMP’s Bid/Quote Closer. Do you wish you could better measure your ROI? Start tracking and actively managing your open bids/quotes with SMP! Give your team an easy way to see the “wins”!
SMP provides automated tools that increase communication and collaboration among your sales team and bring everyone on the same page. No more projects/opportunities fall through the cracks!
SMP’s Bid/Quote Closer automatically creates a dynamic, trackable project/opportunity when a bid/quote is created above a threshold you define. Follow up activities are automatically assigned to the appropriate reps, and the bid/quote is immediately visible. Easily see activities, make notes and share communications. Manage the project/opportunity from creation to close with instant visibility, and generate more accurate pipeline reports based on complete, timely information and feedback from your team.
Here are some tips from our Support Team on using Bid/Quote Closer to maximize your close rates:
- Determine a threshold for the size of bids/quotes you want to track. Start with a significant dollar figure – try not to create “noise” and distraction for your sales team. You can always lower the threshold later if you see more projects/opportunities.
- Define a standardized follow-up schedule for the Projects/Opportunities that are automatically created with SMP. While each project/opportunity is unique, the systematic follow-up activities should be similar to allow easy tracking, reporting, and management.
- Schedule regular Project/Opportunity reviews into your sales reporting and meeting times. People respect what you inspect, so bring Project/Opportunity visibility to the forefront of your team discussions.
- Consider strategic plans for significant projects/opportunities. Involve management and leverage vendor relationships, if possible.
How big is the number on your Unconverted Bids Report? SMP’s Bid/Quote Closer will help you capture more opportunities and move those bids/quotes to your top line revenues. Close more deals with SMP!
To learn more about SMP’s Bid/Quote Closer, please contact your SMP Account Manager.