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What's Wrong With Your Quotation?

ABigBizApr14, 2020Trade Study Leave a Reply

I can't recall that how many times I share the relevant advice for you to this sophisticated topic of quoting. Many people always make various mistakes when quoting. What's worse, they even don't receive any reply after quoting. In a word, the reasons can be summarized as followed.
Muddled thinking of quoting
Most suppliers always reply to the buyer's inquiry as soon as possible, but they spend little time analyzing the content of the inquiry. So I suggest you had better spend 15 or 30 minutes (the time can be less and less as experience accumulates) to analyze your buyer and his inquiry after receiving that, for example.
Analysis of buyer:
1.Identifying buyers' nationality and Per Capita GDP of its country (It can help you to know buyers' intentional price.)
2.National population (analysis the purchases and the possibility to become your big customer)
3.The types of buyers (agents, mall, terminal operator, online shop or individual and so on)
4.His country demands for your products greatly or there are some relevant national policies.
Analysis of inquiry:
1.Experience in purchasing from buyer (the usage of foreign trade term and his purchasing life)
2.Industry experience from buyer (the master of industrial data and the description of products)
Lack of the skills for e-commerce
1.Not making a distinguish of the time zone
Strategy: sending quotation at their working time and set up the time regularly.
2.A quoted title without any strength
Strategy: try not to use the title system-provided, you had better to edit your own special title.
3.Submitting the information on a separate sheet or using a big attachment

Strategy: do not attach any sheet for the first contact, if you have to do that, please use the PDF form and do not attach any word or excel sheet document.
4.Not giving the last perfect touch
Strategy: you can ask a professional and sealing question to show your profession and attach buyer's interest.
5.Incompletion of the signature line
Strategy: a complete signature should be included: name, position, department, full name of company, email, telephone, fax, mobile phone, address, website, trade manager, MSN and so on, which can show your professionalism. And you had better label the online time beside the chat tools and convert it to the actual time of your buyer's country. Do your best in the details.
Lack of foreign trade skills
1.Your introduction of your company can't draw buyers' attention.
Strategy: you should seize what customers focus on, such as the instant delivery time, the competitive price, the experienced production in foreign trade and so on.
2.Incompletion of quotation
Strategy: a complete quotation at lease should contain price terms, dock, production period, MOQ, payment terms, prepayment, shipment, warranty, term of validity, the details of after service and packing.
3.Do not quote in different quantity of products
Strategy: there are different amount of order of one product, if your customer does not tell you the number he buys, you had better quote the price in different quantity.
4.Do not answer all the questions from buyer
Strategy: answering all the questions from customers. And if you can meet all their needs, tell them directly, if not, tell them the alternative option.
5.Do not know the foreign trade terms well
Such as: payment terms: 30% upon confirmation PO and 70% against a copy of B/L. Suppliers are always overwhelmed by such urgent problems.
Strategy: learn more and accumulate more.
Lack of the knowledge of products
1.Know little about the trend of your industry
Strategy: keep in mind of the specifications, functions, and style that customers pay attention to. Quote the price with a few well-directed strategies for different inquiry.
2.Know little about the certifications and national policy in buyer’s country.

Strategy: pay more attention to the current affair and the news of this field.
3.Know little about the specific demands of buyer’s country
Strategy: for example, different country has different demand on mobile phone’s band.
4.Just know well in your own products, but know little about the relevant products.
Strategy: pay more attention to the relevant industries of your own products and master the basic knowledge about them.
Do you also make the same mistakes before? Do not make the same mistake again! You will do it better if you keep it in mind with these four common problems!

- END -

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