Components of a Successful Sales Proposal
Sales proposals come in all sizes. A brief letter can serve as a proposal. So can a 1,000-page document with detailed specifications and pricing. Depending on what you're selling, the proposal format is important. All proposals have the same task: to answer a buyer's questions regarding their request.
Some proposals are allowed to be free-form. That is, as long as you answer the buyer's questions, you can offer it in whatever form you think the buyer would prefer: a letter, a short document, or a notebook with supporting data. In other cases, buyers may require that you complete
How can I take a look at a winning sales proposal?
Ask your boss. If your company does numerous sales proposals, chances are that some of them have been successful. Ask to see the winners and discuss with your sales manager why they won. Then ask to see some that didn't win and use your newfound knowledge to analyze why they weren't accepted. The more you know about winning proposals, the easier it will be to write one.
The most important step in developing a successful sales proposal is understanding its requirements. Are you responding to an RFI, RFQ, or RFP? What does it want? When does it need it? What are the specific requirements of the document you will be submitting? You must know the answers to these and similar questions before beginning the writing process.
Fortunately, buyers and procurers typically include the list of requirements when they request information, quotations, or a full sales proposal. They identify to whom, what, when, where, and how required products and/ or services are to be delivered.
Unfortunately, not all requests are as complete as they need to be for precise bidding. That is, they forget to mention a critical term, such as the delivery method or date. What can you do about that once you identify the absent elements? You can contact the buyer and ask. If the answer impacts your proposal, also ask that the term be put in writing as an addendum. There should be no “verbal understandings” in major proposals; everything should be in writing.
An important part of your sales document should be a summary of the requirements. You can lift them from the request for information/quotation/ proposal or, for initiated proposals, you can simply summarize the perceived problem. “Bob's Widgets is a retail store that is losing market share to Acme Super-Widget Store and needs to increase awareness of their unique offerings to local customers.” The requirements summary for an RFP will be more exhaustive and include specifics of the problem and solution from the buyer's perspective. In either case, the summary is saying, “This is what the buyer and the seller/proposer agree on.”
The requirements summary is then backed up by details and supporting data. For example, a proposal to help Bob's Widgets increase market share may include marketing data that compares the sales of both businesses over the past few years. It will relate the sales of one to that of the other. It may also identify some of the perceived causes, primarily those expressed by the buyer with additions from the seller. The details explain the problem or solution from the buyer's perspective.
A more extensive document may analyze and develop more details offered by the buyer in the RFP. It may offer outside analysis as well, but primarily it will focus on details that the buyer has identified. Then it will tell how the seller will solve the problem and at what cost. For example, it can describe the metallurgical qualities of the widgets, the quantity, shipping date, and other data. If the RFP is a standardized form required by the buyer, it must be thoroughly and accurately completed before submission. Again, call the buyer or agent if there are questions or needed clarifications.
The executive summary is important to all types of sales proposals. It can be as simple as an introductory or concluding paragraph in a letter of proposal, or it can be a one-page summary for busy decision makers. It may be the only component of a proposal that some buyers study. That means your executive summary must be your best writing.
However, it should not be a sales pitch. It must objectively summarize the information that is detailed in the full document. It typically shouldn't use unsupported superlatives like best, world-renowned, and excellent. Just the facts.
Why should the buyer purchase from your company? Here is where you can do some selling and maybe even use a few superlatives, depending on the type of proposal and its requirements. In most cases, it's best to let the facts stand for themselves. If your company is the number one widget manufacturer in North America, say so. If it's not, identify its prominence in the market place and build the buyer's trust and confidence. If you, as a salesperson, have special credentials — such as a relevant degree or certification — offer them.
