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Why Offer a Free Measure and Quote?

Why Offer a Free Measure and Quote?

How to win business on the spot!

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THERE ARE REWARDS AS WELL AS RISKS to providing people with a quote for work, but one of the bigger risks is offering a free measure and quote, only to have the quote knocked back in favour of a competitor’s cheaper one.

This said, despite the risks attached to offering to come out for free and quote a job, it’s still a good way to operate your business.

Why a free measure and quote is good

There are a lot of benefits to visiting a client to provide a free measure and quote, even if you run the risk of wasting your time and money should the quote not be accepted. We take a look at some of these:

You’ll better understand the client and scope of works

Quoting for a job will help you to understand the client and the scope of the project at the same time. People are put more at ease when they know they’re not obligated to pay you just to come out and prepare a quote, so you’ll have better luck getting prospects. You’ll also be able to discern the kind of client the prospect is likely to be, so you can weigh up how to proceed.

Helps you evaluate potential risks

Remember risks can involve both the physical risk of injury but also other more nebulous risks, like a client who doesn’t pay on time or is unrealistic about timeframes, costs or the types of materials required. With experience, you’ll become better at seeing the warning signs early on, but if you’re new to being self-employed, these are things you should pay particular attention to.

How to make a sale there and then

As we said in our previous post about the risks and rewards of quoting, if you make it easy for people to do business with you, you’re more likely to get quick or even immediate acceptance of your quotes. This is really important as a business, because it keeps in a steady stream of work, which is good for your cash flow, and ultimately, costs you less money — because you’re not following up on unaccepted quotes — in the long run.

Show you’re reliable and keen

In many of our blogs we’ve strongly suggested that using a cloud-based accounting application like Xero, MYOB or QuickBooks makes it really easy for prospects to accept estimates and to pay you. Better still if you can produce estimates for prospects while you’re still at their home or business. This shows you’re reliable, well organised and keen.

Demonstrating efficiency, organisation and enthusiasm are clearly attractive qualities in any builder, tradesperson or other small business person who provides on-site quotes (they’re attractive qualities in anybody!) because it shows that you care about the work you do and that you’ll do it in a timely manner.


learn myob xero excel quickbooks online training course videosFor help creating sales and marketing messages that will deliver more leads to your business or determining the right places to advertise your business online, contact the team at Virion for more information about our content marketing services.


 

Your Marketing Strategy in Xero

Your Marketing Strategy in Xero

How you know what’s working and what’s not

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MARKETING AND ACCOUNTING ARE CLOSELY linked if you look at accounting as dealing with the money that’s going in and out of your business, usually as a consequence of your marketing activities.

Recording your marketing activities

In our new online training course, Cash Flow Reporting, Budgets and ROI for Xero, you’ll learn how to enter all of your business’s expenses, including the money you spend on marketing. Anything to do with making your business “discoverable” by a potential customer is considered a marketing activity.

Anything to do with making your business “discoverable” by a potential customer is considered a marketing activity.

That includes business cards, website costs, domain names, Google AdWords, etc, and should be recorded in Xero as a marketing expense.

Determine marketing ROI

To determine your Return on Investment (ROI), you should use Excel or a marketing platform like Hubspot to record where your business comes from so you can assign each activity an income stream.

It’s important to monitor how your marketing spend is performing for your business. Otherwise how will you know what’s working and what’s not?

In our Cash Flow Reporting, Budgets and ROI course for Xero, you’ll go through the steps required to determine the ROI for certain areas of a business. If you refer to the Excel spreadsheet showing the income generated by particular marketing activities — print ads, hipages subscriptions, Google AdWords, etc, you’ll be able to work out the ROI.

Monitoring how your marketing spend performs for your business is incredibly important. It’ll help you to see what’s working, what’s not working, and what needs to be changed to make it perform better.


tradesperson business company xero online training course videosLearn how to determine the ROI of many of your business’s activities in our Cash Flow Reporting, Budgets and ROI course for Xero. To learn more about, or enrol in, our new Cash Flow Reporting, Budgets and ROI course for Xero, visit our website.