An estimate is one of the most important steps in the sale process. With the presentation of an estimate, you can make or break a deal with a prospective customer. That's why it's so important to educate your customer on the overall estimate process and what to expect.As a contractor, you need to look at the estimate from the customer’s point of view. Once you give them the information they need, they will be in a better position to choose your services.Imagine you were a customer, and one contractor came to you and said, “Choose my services. I’ll get the job done as fast as possible for as little money as possible, and you won’t have a problem with this breaking again for a long time.”Another contractor came to you and said, “I can complete the job in 5 hours for $500. I guarantee the repair for 5 years.” He then goes on to explain what he plans to do and how he is dividing his costs between materials and labor.Which contractor would you choose?The answer is easy! The contractor with clear, competitive, and specific terms will always win over a contractor that offers vague terms.
As a contractor, you have to make sure that your estimates are clear and spell out the exact results that you plan to achieve for your customers.Customers often know their requirements, but they might not know the price they are willing to pay to fulfill those requirements. As a contractor, it’s your task to explain to potential customers the value you bring to their project.
As a contractor, you have to be on the same page as your customers. This can help to develop a shared understanding of the value you bring to them. You can break down value into the following parts:
In essence, an estimate should explain to the customer how they can achieve one or more of these benefits by hiring your services.
An estimate should clearly present all the information a customer is looking for. Here are some points you should consider including in your estimate along with other information.
Every estimate is different because no two contractors will approach a job in the same way. If you are a customer, you would probably choose the estimate that will get the job done most quickly and efficiently. Here are some factors most people look for in an estimate when comparing two or more contractors.
All of these might not apply to your business, but try to include as much information as possible to help your potential customer make an informed decision about which company to hire. If possible, ask them questions about your estimate to see if they understand it and see your terms as reasonable. Opening the door to clarifying your estimate can give you more opportunities to talk to the customer and close the deal.
The presentation of an estimate can make or break a deal with a customer. The idea is to present the information the customer is looking for in such a way that you close the deal. Here are some estimate pitch techniques that will make sure your estimate stands out and gets noticed by the customer.
Writing an estimate for a prospective customer is a skill that can make or break a business. By following the guidelines offered in this article, you can improve this skill and increase the number of leads you close. Remember, when writing an estimate, think from the customer’s point of view and be honest in all that you can offer to the customer.