December 2023 - Action Coach Geelong

Strategies to Boost Quote Acceptance Rates in Your Trades Business

Picture this: you’ve meticulously prepared a quote for a potential client, factoring in every detail to provide a comprehensive estimate. You send it off, waiting eagerly for their response. But more often than not, that response might be an objection. These objections can become stumbling blocks, hindering the acceptance of your quotes. Yet, fear not, for there’s a way to navigate these objections and significantly enhance your acceptance rates.

Understanding the Obstacle

In the realm of trades businesses, objections to quotes are a common hurdle that can leave business owners perplexed. Handling objections effectively is a skill that can dramatically influence your success. Many business owners, however, find themselves uncertain about how to address objections, which often leads to hesitancy in following up with potential clients.

The truth is, tackling objections head-on is a game-changer. Even if you address objections with a success rate of around 70%, you’ll witness a substantial improvement in your quote acceptance rates. This transformation isn’t just about increasing numbers—it’s about honing your communication skills to create a bridge between potential clients and your services.

The Objections: Breaking Them Down

When potential clients respond with objections to your quote, it’s not a closed door—it’s an opportunity. Objections can manifest in various forms. Some common objections include:

Price Concerns: “Your quote seems a bit steep.”
Time Doubts: “I’m unsure about the time frame you’ve provided.”
Decision Hesitation: “I need more time to think about it.”
It’s crucial to remember that objections are a natural part of the decision-making process. They indicate interest and engagement, rather than rejection. What truly matters is how you navigate these objections.

The Art of Agreement and Scripted Responses

The first golden rule in addressing objections is agreement. When faced with an objection, begin by acknowledging the potential client’s concern. Agreement establishes a rapport and demonstrates that you’re attentive to their needs.

For instance, if the objection is about the price, your response might be: “Yes, I understand that the quote might appear high. Are there any other aspects that you’re considering?”

Following agreement, having scripted responses ready is a lifesaver. Scripts provide you with a strategic framework to guide the conversation. With scripted responses, you can pivot the discussion from the objection towards finding a solution that aligns with the potential client’s needs.

Empowering Potential Clients to Explain

In the art of objection handling, giving potential clients room to elaborate is invaluable. Allowing them to voice their concerns not only helps them feel heard but also equips you with vital insights. Letting them explain their hesitations opens the door to a deeper understanding of their perspective.

Once they’ve expressed their concerns, you can directly address the objection. With a well-crafted response, you’re not just responding to their objection—you’re tailoring your message to their specific worries.

Elevating Your Success Rate

Dealing with objections upfront is a masterstroke that can revolutionise your sales approach. By embracing objections as opportunities for meaningful conversations, you’re building trust, credibility, and rapport with potential clients. Each objection handled with finesse becomes a stepping stone towards increased acceptance rates.

If you’re eager to delve into a more detailed framework for handling objections, you’re in luck. We’ve prepared a comprehensive script that you can download from the link below. This resource equips you with the tools to navigate objections effectively, transforming them from barriers into gateways of success.

Objection handling isn’t about overcoming hurdles; it’s about building bridges. In the world of trades businesses, objections are a precursor to acceptance. By mastering the art of agreement, scripting responses, and empowering potential clients to share their concerns, you’re setting the stage for a more profound connection that transcends mere quotes. Don’t miss the chance to transform objections into opportunities—grab your script and embark on a journey of elevated quote acceptance rates today.

Mastering the Art of Following Up on Quotes: A Comprehensive Guide

Discussing the topic of following up on quotes might not ignite excitement for everyone, but let’s face it, this aspect of business is often the key to success. How you follow up on quotes reflects not only your dedication but also the integrity of your promises made even before the quote was given.

The Neglected Follow-Up: A Common Misstep

The frustration around this topic is undeniable, as many tradespeople admit to the occasional lapse in follow-up efforts. However, any level of follow-up is a step in the right direction. At the very least, remember to touch base with potential clients – a simple act that sets you apart.

The timing of your follow-up is essential. The consensus among businesses is to wait between three and seven days before reaching out after sending a quote. While larger projects might warrant a bit more time, quicker responses are expected for smaller jobs. Striking a balance between patience and proactiveness is key.

The Who and How of Follow-Up

Now, who should take charge of follow-up? Ideally, it’s you. As the business owner or someone well-versed in sales and your trade, your personal touch has immense value. Your familiarity with the project and your ability to address any queries or concerns directly can make all the difference.

Alternatively, delegating follow-up to someone in your office is a viable option. However, this must come with a crucial caveat: ensure that the follow-up person is armed with a script or guideline to ensure a polished interaction. A mere “Do you want to proceed with the quote?” won’t cut it. Clients need to feel they’re in capable hands.

Unveiling the Effective Follow-Up Process

The process of follow-up isn’t confined to a single interaction; it’s a series of steps that speak volumes about your professionalism and commitment. Here’s how a well-orchestrated follow-up typically unfolds:

Inquiry Initiation:
When an inquiry comes in, it’s the beginning of a potential client relationship. Engage them in a phone call to discuss their needs and understand their expectations.

Information Exchange:
Following the initial call, email them relevant materials – past project examples, team details, or any other pertinent information that showcases your expertise.

Pre-Site Communication:
Before you head to the site, whether for an estimate or inspection, communicate with them via a call, email, or even an SMS. This reiterates your commitment to the project.

Site Visit:
Conduct the on-site visit and gather all the necessary information for a comprehensive quote.

Providing the Quote:
After preparing the quote, ensure you communicate clearly when they can expect to receive it.

Follow-Up:
This step is pivotal. The manner in which you follow up reflects your professionalism. Remember, a well-prepared quote holds the promise you’ve made.

The Sales Process as a Framework

However, the follow-up process doesn’t stand alone; it’s a part of a broader system – the sales process. Every interaction, from the initial inquiry to the final follow-up, forms a cohesive structure that shapes how potential clients perceive your business.

Positioning your actions is crucial. When quoting, if you promise to reach out within a specific timeframe to discuss the quote and clarify doubts, this commitment sets the stage for a seamless follow-up.

The takeaway here is that while discussing follow-up strategies is vital, understanding the broader context – the sales process – is equally essential. To help you on this journey, we’ve prepared a downloadable sales process template tailored for trade businesses. Click the link below to access this valuable tool, designed to not only guide your follow-up efforts but also enhance your overall business approach.

In conclusion, mastering the art of following up on quotes is more than just a task; it’s an embodiment of your dedication and professionalism. Utilize these insights, and remember that the true essence of follow-up extends beyond the quote itself – it’s a part of the comprehensive sales process that propels your business toward success.

Click here to download our specialised sales process template, and embark on a journey to optimize your approach to client interactions.

Your success begins with these foundational steps. Happy quoting and following up!

Boost Quote Acceptance Rates in Your Trades Business