With so many businesses competing for the same clients, your ability to create exciting and persuasive formal business proposals that stand out and communicate your business's expertise and value will have a huge impact on the success of your business.
Creating and presenting formal business proposals will be will be one of your main tools for acquiring new clients, especially in B2B sales. The key is to make your business proposals stand out so the client wants to buy from your company. Your company may be more experienced and provide a better solution than your competitors, but if your business proposals are boring and unable to impress potential clients and separate you from your competitors, your ability to acquire new clients is going to be very difficult.
Simply put, a formal business proposal is strategic sales-based business document that you use to present your company and the solution you want to offer to a potential client to persuade them to buy from your company instead of buying from one of your competitors.
Sometimes a formal business proposal needs to be prepared in response to a RFP (Request for Proposal). A RFP is when a company, organization, or government agency sends out a document (their RFP) outlining a product or service they want to buy, and then they invite qualified businesses to send formal business proposals that detail why they are the best vendor to supply that product or service.
Businesses, organizations, and government agencies request that businesses send them business proposals as part of a formal selection process for buying goods and services, be it a product (e.g. office desks) or a service (e.g. management consultation). The purpose of a business proposal is to make a logical argument for why your company is the best choice for supplying that product or service.
While some business proposals are little more than a basic price quote that is mainly focused on the proposed fee for selling a product or service, most business proposals must cover a very wide range of factors other than price. Here are the most important business proposal elements:
A business proposal is essentially a very high quality and in-depth sales presentation. You are selling your business's products or services to a prospective buyer and trying to prove to that buyer why they should choose your company instead of one of your competitors.
A winning business proposal will explain why your business has the resources, expertise, and experience to meet a client's exact needs.
A winning business proposal directly addresses the decision maker within the client's company using persuasive language, well-laid out plans, and a solid understanding of the company’s measurable goals.
To make your formal business proposal stand out as being unique, visually attractive, and far superior to the proposals of your competitors, it is highly recommend that you use professional business proposal software such as ClientPoint to create an interactive multi-media business proposal.
While your competitors will be sending them boring pdf files that all look the same, with ClientPoint you can create technologically advanced multi-media business proposals that will make your company look far more advanced and professional than your competitors, and getting that extra boost that makes you stand out will most likely be the difference between you winning and losing a sales contract.
For more information on writing business proposals, here is a step by step article we wrote on how to write a business proposal.
If you want your business proposals, price quotes, and contracts to stand out and give you the best chance at winning new clients, use ClientPoint's business proposal software. It makes creating and formatting professional business proposals, price quotes, and contracts fast and easy. Click the button below to get a FREE demo of ClientPoint.