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How Proposal Management Can Increase Your Profit?

March 2nd , 2020

To survive and thrive, businesses need to create leads, capture those leads and convert them into lifelong customers. The danger is that one mistake can destroy a firm’s relationship with the customer.

This is the reason why more businesses are beginning to use enquiry management systems everyday - to create a consistent approach to their sales opportunity funnel and create a lifelong customer.

In simple terms, an enquiry management system is an automated proposal software that works at the front end of the funnel to capture these opportunities and to successfully convert them. Incoming inquiries and opportunities are logged, tracked, and managed through this process so that sales teams can act on them. It also gives management an overall view of how these enquiries are handled so they can measure and predict sales performance.

This type of proposal software eliminates the chance of enquiries falling through the cracks. By doing this, companies can properly handle and follow up with prospect who requests information, giving them more chances to sell and grow the business.

Here are four ways that a proposal software system enables sales growth:

1. They capture the leads and pair them with the right salesperson.

A good enquiry management system should collect all the incoming prospect information companies need and convert it into a usable format. Each lead should follow an identical process and provide a consistent experience, so every customer receives the same first impression.

Leads should be stored and tracked in an easy-to-access location – usually the cloud - rather than being shuffled around in inboxes and spam folders so no salesperson misses a chance to connect with a potential customer.

Another major benefit of this proposal software automation is the ability to pair leads with the salesperson who is in the best position to convert the lead. The enquiry management software, if it has been designed correctly, can identify and classify each lead and route them to the right person for the next step. This allows for proper lead distribution to the sales team

This distribution is essential to sales teams that want to deliver an optimal experience. Each salesperson can then create a relationship with the customers and understand their needs from the start. Additionally, the salespeople can spend more time working with leads they are qualified to handle rather than killing potential deals by mishandling them.

2. They can help the company provide a better customer service.

The customer experience is the most critical piece of the sales process. Even with a great product, customers can lose confidence in a company that seems disorganized or that does not understand nor address the customer’s needs. Thus, properly handled inquiries can allow for timely responses and to prevent overlooking an important lead. Tracking lead interactions and knowing exactly where a lead stands in the sales process for even more visibility into the sales funnel are major benefits of the enquiry management system.

3. They help track and monitor leads.

Sales management should not only be concerned with deals salespeople are closing, but it should also be aware what else is in the sales pipeline. Monitoring and forecasting are essential when making business decisions, especially when budget needs are concerned. By knowing number of enquiries per day, their status in the funnel, and each one’s potential, the company can set future expectations, make investment decisions, and communicate with stakeholders.

Ultimately, an enquiry management system with automated proposal software is one of the best investments that a company can make to help it make it become more efficient, reduce costs and, ultimately, make it more profitable.



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