According to Hubspot, 80-90% of business is lost at the proposal stage.
I couldn’t find actual research to support this and it’s reasonable it’s just the odds. If a planner sends an RFP to five (or more) companies with the intent of saying yes to only one, the math is simple.
But here are three more compelling reasons proposals (and the sellers who submit them) lose the business.
1. It’s all transaction. No vision. No excitement. No personalization.
2. It’s thoughtless. The same impressive but meaningless words marketing created for the website are repeated in every narrative opportunity.
3. It makes them do more work to get answers.
Proposals (and buyers) that win:
1. Align with the buyer’s key drivers. It’s not just about how many rooms on peak night, but demonstrate care for the overall purpose of the event.
2. Are personalized with more than just changing the name of the client, but submitting the same proposal.
3. Don’t flip off buyers with non-responses like: “Information to be provided once we are a consideration.”
Take time with your team today to update your proposals and narratives in CVent.
Create a proposal introduction for each line of business by industry vertical and type of meeting:
Throw out all fake, fancy “verbiage.” Replace it with authentic words that express your brand personality and show yours. Unless you’re a mortician selling caskets to the bereaved, lighten up!
Don’t let a “no”answer in the drop down menu be the only answer. Use the next narrative to explain a “yes.” Give them information that will help and not just frustrate.
Sellers who submit smart proposals don’t have to send eight follow-up emails. Care, thoroughness and ease go a long way.
Are you looking for fresh, modern ideas to boost success at your next sales meeting or conference? SpeakerSue will energize your meeting, keep everyone engaged and provide the “kick” your team needs to create a cultural change in the way they communicate.
To use email more strategically and successfully, send an email to Sue@SpeakerSue.com or call (+1-480-575-9711) to check availability. You can count on fresh, practical content to convert more leads and drive revenue and profitability.
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