I’ve always been super conflicted about this. How long do you actually let a prospect assess a proposal? Is there a set time like a 3-day rule? How do you generally follow up?
RookieSaaS
How long do you let a prospect sit over a proposal?
8
When you send the proposal have a backstop meeting set to discuss the proposal.
100% - Never get off any sort of proposal call without setting up next steps.
AMEN to that!
Depends on the circumstance. Sometimes it's a month when the proposal is going to inaccessible DMs like a board of directors. Sometimes the decision is made the next day.
Never send a proposal without a follow up step in place. If I'm sending a proposal I should already know:
- Who's looking at it?
- Who are the DMs and major influencers?
- What's likely to sidetrack it?
- Are other proposals being considered? How does ours stack up?
- How long are they going to need to review it? Is this a reasonable amount of time? What can I do to shorten this length of time for them?
- What date have they given me for a decision?
Never send a proposal without a follow up step in place. If I'm sending a proposal I should already know:
- Who's looking at it?
- Who are the DMs and major influencers?
- What's likely to sidetrack it?
- Are other proposals being considered? How does ours stack up?
- How long are they going to need to review it? Is this a reasonable amount of time? What can I do to shorten this length of time for them?
- What date have they given me for a decision?
Give them a timeline before you send to set expectations
Discuss how long signing would take. Put a new meeting in when it should be signed. You can say it is to work out the startup or something. Also set a date how long the offer stands.
Set a timeline with them before you send it.
"I'm going to send this to you today, and I'd like to set a call with you on Friday to discuss your feedback and decide if we can move forward together or not. Does that align with your timeline and expectations?"
Negotiate from there.
"I'm going to send this to you today, and I'd like to set a call with you on Friday to discuss your feedback and decide if we can move forward together or not. Does that align with your timeline and expectations?"
Negotiate from there.
Always give and get consent on a MAP ( mutual action plan) before hanging up
let's assume you're not in a blind RFP and are going through a standard deal cycle.
ideally they aren't sitting on it ie. don't give them final pricing until you're close to the finish line and they see value (ideally some tangible ROI payback) regardless of sticker price / investment. only send after you've walked thru on a screenshare, checked for understanding on terms, and have gotten them to verbal that it's not a dealbreaker.
past that - have a reason to follow up every 48 hours until signature / or told otherwise.
ideally they aren't sitting on it ie. don't give them final pricing until you're close to the finish line and they see value (ideally some tangible ROI payback) regardless of sticker price / investment. only send after you've walked thru on a screenshare, checked for understanding on terms, and have gotten them to verbal that it's not a dealbreaker.
past that - have a reason to follow up every 48 hours until signature / or told otherwise.
They get a specific timeline with next steps and a secured follow up meeting set before I send hard copies of anything.
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