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Price Quote Script for Custom Fulfillment Services

Creating a price quote for each prospective customer can be a difficult and time consuming effort across multiple parties. There is information necessary from the customer, calculations to generate a quote, an approval process internally, and (eventually) a final approved quote to deliver to the customer.

With this script, we'll show you how to customize, automate, and deliver a custom price quote that is professional and closes prospective customers more quickly.

Use a Customer Form and Internal Approval Process To Generate a Price Quote

With this script, we'll generate a price quote using a beverage fulfillment service as the example.

From a customer information form, we'll utilize inputs and a series of formulas to automatically generate a custom price quote. This price quote will be delivered to the appropriate internal party (i.e. business development rep, sales rep, etc.) for further customization and approval. After internal approval, a customized proposal is generated for the prospective customer including the price quote and an option for the customer to purchase the service based on the quote.

The ultimate objective is to create price quotes consistently and efficiently in an effort to close prospective customers more quickly.

Price Quote Script for Custom Fulfillment Services

Template Inputs & Forms

Customer Information Form & Price Quote Table

Create customer information table (to be collected via form customer information form). For custom order fulfillment services, we structured our table as follows:

  • Quote ID (system generated)
  • Company Name (text)
  • Email (email/text) 
  • First Name (text)
  • Last Name (text)
  • Role (text)
  • Orders per Month (#)
  • Items per Order (#)
  • Avg Ounces per Item (#)
  • Interested in Real-Time Reporting? (yes/no)
  • Workflow Status (single select)
Price Quote - Customer Information Form
Price Quote - Customer Information Table

Internal Costs Table

Create an internal costs table. These inputs are utilized to generate an initial price quote. You can use this table to customize the variables necessary for creating the initial price quote. For custom order fulfillment services, we structured our table as follows:

  • Cost Detail (text)
  • Cost to Serve ($)
  • Unit (single select)
Price Quote - Internal Cost to Serve Table

Percentage Markup Form & Table

Create an internal percentage markup table for use in the customization of an individual price quote and generation of a proposal. These inputs will be used for internal purposes to tweak markup % on specific line items and estimate total cost to serve, the estimated monthly fee, and the associated gross profit and margin estimates for that customer. For custom order fulfillment services, we structured our form and table as follows:

  • Quote ID (lookup from 'Customer Information Table')
  • Quote Customer (lookup from 'Customer Information Table')
  • Quote Email (lookup from 'Customer Information Table')
  • Receiving Costs Markup
  • Storage Costs Markup
  • Packing Costs Markup
  • Shipping Costs Markup
  • Account Management Costs Markup
  • Customer Support Costs Markup
  • Reporting Costs Markup
Price Quote - Internal Markup % Form
Price Quote - Internal Markup % Table

Data Sources

Price Quote Table

See above. The customer information form should be associated with entries in a quote table. The quote table will include customer input information and the status of any price quote.

Internal Costs Table

See above. In this example template, there are seven cost-to-serve line items that drive the initial generation of a price quote. These include the following:

  • Receiving Costs
  • Storage Costs
  • Packing Costs
  • Shipping Costs
  • Account Management Costs
  • Customer Support Costs
  • Reporting Costs

Percentage Markup Table

See above. In this example template, each cost-to-serve line item has an associated markup percentage for each price quote. This table will be used to generate the approved price quote for the customer.

Setup and Methodology

Customer Information Forms Create Records in Price Quote Table

Inputs in the customer information form should automatically create new records in your price quote table, assigning an ID to the record automatically and tracking the status of that particular price quote. The status of any quote should have at least the following stages:

  • New
  • Approved
  • Rejected
  • Customer Accepted
  • Customer Declined

Create an Index Page for Tracking Price Quotes and Approval Internally

Internally, you'll want to review that status of price quotes. Create an index page showing all price quotes and their current status. Search and filter options on the index can be useful, depending on the number of price quotes requested.

Internal Costs and Units of Measure Are Set As Consistent Variables

The internal costs table requires that you define units for each entry. These can be defined as single select values in the units column of the internal costs table. This will help when developing expressions that output an initial price quote.

Percentage Markups Can Be Applied to Any Individual Cost

The percentage markup table requires that you define a potential markup for individual costs. These inputs will be used to tweak and approve an individual price quote.

Use Expressions To Get a Complete Picture of Your Cost To Serve

Create the expressions necessary to calculate each line item in cost to serve. The results of these expressions will be used for an internal approver. In each expression, be sure to include the associated markup percentage for each cost-to-serve line item. This will give the approver full access to tweak the price quote. While you're creating expressions, include a calculation for the total monthly fee. This is the value that will end up in the approved customer proposal. For instance, in this example we needed the following expressions to generate an approved proposal:

  • Pallets/Month
  • Receiving Costs
  • Storage Costs
  • Packing Costs
  • Shipping Costs
  • Labor Costs
  • Total Cost to Serve Customer
  • Total Monthly Fee
  • Gross Margin $
  • Gross Margin %

Display Markups, Cost to Serve, and Customer Information on a Single Approval Page

For internal resources reviewing and tweaking price quote information, it is easiest to see how markup percentages change the price quote, cost-to-serve, and potential profit margin to serve that customer. Using a single approval page, include an overview of the customer price quote request, the form for inputting internal markups, and the results of the expressions to calculate cost-to-serve and gross margin.

Price Quote - Markup Percentage Customization and Internal Approval

Generate a Final Price Quote After Internal Approval

The last page to create is used for displaying an approved price quote for the customer. Ideally, this page can be shared in web form or PDF, but no longer has inputs. The customer would have the ability to accept the quote or to reach out with questions.

Output

The output of this price quote script is an approved price quote for the customer. Any information that isn't relevant for the customer can be hidden from the final proposal. The key is ensuring the customer understands the total cost and how to accept the price quote or reach out with more questions. It's always most valuable to turn around a price quote as quickly and accurately as possible. The closer the proposal is to the initial request, the better chance you have of catching that potential customers urgency and current focus.

Price Quote - Customer Proposal

Conclusion

Efficiently turning around price quotes for prospective customers is essential for sales velocity. Usually, this process is time and resource intensive. With the right tools and methodology, you can turn price quoting into an efficient sales driver for your business.

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