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Slippery Rock Gazette January 2025 | 9
Training & EducaTion
Leveraging Customer Experience Feedback to Shape Your 2025 Goals
The Business Impact of Faster Bids
Speeding up your quoting process doesn’t just benefit customers, it directly impacts your bottom line. Faster bids can significantly improve your chances of winning projects. Studies show that busi- nesses that respond to inquiries quickly are more likely to secure the deal. In a competitive market, the ability to provide clear and timely estimates is a powerful differentiator.
Additionally, a streamlined quoting pro- cess allows you to handle more opportu- nities. The quicker you can prepare and deliver bids, the more customers you can serve. This increased capacity can lead to more closed deals and a stronger revenue stream.
The Importance of Understanding Why Bids Are Lost
While delivering timely bids is crucial, it’s equally important to analyze the out- comes of your proposals—especially the ones you lose. Many companies fail to
focus on understanding why a bid was unsuccessful, missing a critical opportu- nity for growth.
Tracking Bid Requests: A Hidden Opportunity
Another critical factor in driving sales is understanding the percentage of bid opportunities you receive versus those you don’t. If you are not tracking the number of quotes requested by your customers—or more importantly the percentage of projects you are missing out on—you could be leaving money on
the table.
For example, if you discover that you
are only receiving 60% of the bids you expect from your regular customers, it’s worth investigating why. Perhaps your quoting process is too slow, or custom- ers feel that your pricing isn’t competi- tive, or they have a need for products you don’t offer. By addressing these gaps, you can capture a larger share of poten- tial business.
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INthe stone fabrication industry, de- livering timely and accurate bids is not just a courtesy—it’s a competitive advantage. Customers, whether they are contractors, designers, or homeowners, expect quick responses to their quote requests so they can plan their projects efficiently. Failing to meet these expecta- tions can result in lost opportunities and erode customer trust. Understanding and addressing these expectations is key to securing business, building long-term re-
lationships, and driving sales growth.
Why Understanding Customer Expectations Matters
Every customer has a timeline, and in many cases, delays in receiving a quote can halt progress on their project. When customers request a quote, they’re not just
Darlene Compagna
Direct Opinions
seeking a price—they’re looking for reas- surance that your company can deliver on time, within budget, and to their specifica- tions. Meeting or exceeding their expecta- tions for bid turnaround demonstrates your professionalism and commitment to their success.
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