Sales quotation sample; Part I

Sales quote exampleI’ve gotten so much feedback from a previous post on a sales quotation example (in fact it is the most popular post so far in the sales funnel) that I think it warrants going into this in a bit more detail. I thought it might be appropriate to have a series of posts detailing the various parts of a good sales quote. And the quote is often at the beginning of the sales funnel, so it is terribly important to your sales health.

All sales quotes should have the following components:

  • Your contact information
  • Your customer’s contact information
  • Date you sent the quote out
  • Your internal quote number
  • Quote body
  • Leadtime
  • Payment terms
  • Shipping terms
  • Price
  • Your signature and title
  • Reference to your Terms and Conditions

For this post, let’s talk about the “internal quote number” – other quotation items to be found in future posts.

You should have a system in place for numbering all of your quotations. I’ve seen many different ways of doing this, the most popular follow:

  • Base it on your customer’s name. For example if you are quoting XYZ Forming, Inc. for the third time, you might call your quote number “XYZ003”. The benefit of this numbering scheme is that you know at an instance who the company is and how many times you’ve quoted them in the past. The problem is that you need to remember if you called the quote XYZ or XYZFORM. Sure you can set up rules to maybe limit it to three characters, but that causes problems with companies that have the same first three letters – it ends up being a mess and I don’t recommend this.
  • Base it on sequential numbering. So on day one your first quote is 001 and three years from now you’re on quote 434. While there is nothing inherently wrong with this scheme, I like to build a little intelligence in my quote numbering layout.
  • Base it on logical sequential numbering. Here is where I like to live. If a company has very discreet products, say iron and copper sheet quote could be numbered Fe001 and Cu001, respectively. I personally like to number based on the current fiscal year I’m in without regard to product class. So my first quote of 2008 was 8001 and right now I’m on 8178. That way I know at an instant approximately when a quote was released. I have a simple Excel file that I use to keep track of what quote number I’m on.

Please CLICK HERE to download a sample sales quotation for you to use as a template in your sales efforts.

What system do you use?

UPDATE: This is by far one of our most popular post, if you want to learn more, visit our products page and read “Sales Layer 8 – How to accept a purchase order.”

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6 comments ↓

#1 Adil Mohiuddin on 09.12.08 at 12:50 am

Dear Sirs,

I would like your expert opinion on issuing an open sales quotation, that is without addressing to any cutomer, particularlly for those buyers of products of a company which the customer would like to lease or obtain bank financing.

By issuing open quotation the customer having better negotiation with any one giving best interest rates / terms & conditions can write the name of the financier by hand and avail the facility.

Please comment that is there any legality involved if the seller of the product issues an open quotation without addressing it to any one in particular.

Best regards,

Adil Mohiuddin

#2 Eric on 09.12.08 at 8:08 pm

Adil – I’m not sure that I totally understand your question. But for starters, I can’t really comment on any legal issues, I’m not an attorney and mine advised me to steer clear of such answers.

Do you mean just sending an unrequested quote to a company and addressing to a position, like VP of Marketing? If so, no I’m not a fan of that sales approach. If you’re just trying to warm up a prospect send them a sales sheet or other literature and then follow up.

Please explain your situation in more detail for a more exact answer.

#3 Eric on 09.16.08 at 9:16 am

Adil – email received and responded to.

#4 Sales quotation sample; Part II | Engineers Can Sell on 12.02.08 at 2:11 am

[…] the base post of this series as well as a related post, we talked about many different aspects of a sales […]

#5 Chandrashekar on 10.31.09 at 8:31 am

i want to prepare a quotation for our customer to quote my least and reasonable price. i want to know quotation drafting pattern and style. i am selling organic fertilizer, can u guide me how to prepare quotation to customers ? please send the drarft via email

with regards
chandrashekar

#6 nakeer on 08.25.10 at 1:10 pm

I would like to prepare a quotation for the supply of building material to send to another company it shoul d be very great

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