For suppliers request for quotations can be the key to finding new buyers as you can assess their specific requirements and match them to your ability to supply the product. Finding, sorting and replying to RFQs can be a quick and easy process if you follow the advice below.
For suppliers request for quotations can be the key to finding new buyers as you can assess their specific requirements and match them to your ability to supply the product. Finding, sorting and replying to RFQs can be a quick and easy process if you follow the advice below.
Why Request for Quotations Are Key to Gaining More Customers
Request for quotations are buyers looking for specific products so you if you supply that product you have an instant advantage over buyers finding you first. You can come in with a detailed description of how you can provide what they need and why they should choose your company.
This access to new customers is a unique feature to Alibaba.com and a powerful tool for your company. You must keep a regular eye on the RFQ section and you can even see a live feed to make sure you catch that request that could potentially turn into a regular stream of orders.
Early Bird Catches the Worm
The RFQ section is found under selling within your account and then click the Manage RFQs section. You can see the latest request for quotations of which you need to reply to quickly and efficiently. The quicker the better as it shows you are a company that is keen and alert.
You can now search with the RFQ section to find out what people are requesting, goto http://sourcing.alibaba.com/ which also includes a live feed!
TIP: Put in your calendar to follow up every RFQ 2-3 days after you send it. That way you can kindly remind the buyer about your offer and ask if there is anything more you can help them with.
NOTE: Gold members have access to request for quotations 5 days before Verified or Free members. Five days is a long time to wait so consider becoming a Gold Member if you are serious about using Alibaba.com to bring in the buyers you need to be a successful supplier.
Trade Alerts
Trade Alert is a free customized email that delivers personalized trade offers and opportunities, such as product, supplier, and buyer information direct to your email inbox. This means you can get the most current product information matching your requests, meet new buyers and suppliers dealing in similar products (a good way to check out the competition) and keep an overall eye on your industry.
You can find more information here http://news.alibaba.com/article/detail/help/100453655-1-what-trade-alert%253F.html
How to Filter and Group Enquiries
Some RFQs and Enquiries are more important than others. To use your time most effectively here are four categories for you to filter your time into.
Top Priority
Obviously you want to reply to these first, they are specific and detailed enquiries about a specific product which include quantities, exporting details, delivery time and especially example pictures of what the buyer wants.
Example:
Copy from http://service.alibaba.com/vm/respond_inquiries.html
Quotation Reply:
Copy from http://service.alibaba.com/vm/respond_inquiries.html
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High Priority
These are specific but brief enquiries. They contain information about specific products but no mention of exact details as with the top priority ones.
Example:
Copy from http://service.alibaba.com/vm/respond_inquiries.html
Quotation Reply:
Copy from http://service.alibaba.com/vm/respond_inquiries.html
Low Priority
These are much more general and show interest in a general product type or collection and do not include an specifics
WCB Top Tip! : Now these enquiries may seem to be low priority but they can also be a massive opportunity. Some companies will be looking for a long term supplier of a given product and this type of email is their way of seeing who is out there and listening. We highly advise you to reply and put a great deal of care into giving information about who you are, why they can trust you and your unique selling point. Having a standard email template for this is idea as you can give all the company information in one go and reply quickly and thus save time in case it is a low priority RFQ, but you never know so be prepared!
Example:
Copy from http://service.alibaba.com/vm/respond_inquiries.html
Quotation Reply:
Copy from http://service.alibaba.com/vm/respond_inquiries.html
Least Priority
In short these consist of advertising or spam. For advertising you can simply ignore but for spam it is vital you report it back to Alibaba.com. This helps them ban further emails coming through helping keep your inbox filled with viable enquiries and not spam.
To report spam simply check out this detailed article on Aliabba.com http://resources.alibaba.com/article/46786/Help_Alibaba_improve_your_Spam_Filter.htm
Three Golden Rules of How to Reply to a Request for Quotation
There are three golden rules to responding to RFQs/Enquiries and that is
- Analyze before making a quotation – is the buyer legit and you check this by looking at their profile, where are they based, if you call the registered number does it work, check their company website and search for their name on Google. Also are they on the map and are they a gold supplier also? Finally, make sure you study their requirements carefully so you know exactly what they require.
- Reply Efficiently – Send your reply within 12 hours of receiving the buyers RFQ/enquiry and always keep TradeManager online so the buyer can get in direct contact with you when the receive your reply. Make sure to answer all the buyer concerns such as payment agreements, shipping details and what guarantees you provide. Finally always remember to make the quotation attractive by adding sales copy and reasons why your company is the best at providing this product.
- Track Your Buyer – Once you have contacted them add them to your contacts and then follow up the proposal 2-3 days later with a friendly reminder email “just checking you received our proposal, if there is any more information I can provide you with please do not hesitate to contact me by email, skype or tel 02-000-0000”. If you don`t hear anything back then pick up the phone! Emails can get lost for many reasons so use the gold old fashioned communication method of telephone.
Conclusion
Since becoming Alibaba.com’s trusted training provider I we have learnt just how powerful their platform is and if your business is hungry, keen and capable you will succeed. Keep up-to-date on what is going on in your sector, reply quickly and read enquiries carefully. Lastly always vet your buyers to make sure your time is spent on the best of customers and not those that are spam.
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