A lot of rookie eCommerce sellers may run into the problem of being ignored by suppliers when they sent out their requests for quotation (RFQ). They may start to blame those suppliers for being rude, being haughty, being unappreciative, and looking down on small startups, etc. But it never occurred to them that maybe the problem lies in themselves – that they may not seem professional enough, and were unclear in their intentions.
It is always crucial to remember that just as you, the seller, are evaluating different suppliers to do business with, suppliers are also evaluating you! The rule here is to be specific in your requests. By doing so, you will demonstrate that you are serious about doing business with them.
In this post, I shall be going through a few pointers to craft a professional request for quotation (RFQ), and I hope that these tips will help you increase the chances of clinching your deals with potential suppliers.
And here are the essential elements to include in a professional RFQ:
1. A short company introduction
It is rude to not introduce yourself when you reach out to suppliers. Just like how you probably won’t agree to entrust a large number of assets with anyone on the streets, suppliers aren’t going to deal with you if you don’t tell them who you are!
And by introducing yourself, I don’t mean to just send them a link to your website and ask them to check you out. You need to be much more proactive than that. So, include a brief summary about who you are, where you’re from, and what business you do when you first reach out to suppliers. It will be best if you can also include a sentence telling them about what sets your company apart from the rest. For example: “I’m a small startup and I specialize in selling X product with a certain XX function. My customers love my products and my business has been growing rapidly.” It will greatly increase the chances of suppliers working with you.
2. Order volumes
You need to tell your suppliers how many pieces are you looking at to order. Some suppliers allow people to order in minimal amounts like one or two pieces, while some don’t. If you can be direct with your order volumes, it will save lots of time for both you and the suppliers. You can also entice them with the possibility of future collaborations. For example, what is the estimated annual order volume you are going to take from them, if they decide to go into a long-term relationship with you? Information like this will make your suppliers’ ears perk up!
3. Product specifications
Be clear in the specifications of your products! Make sure that you have mentioned clearly the correct measurements and materials of how you want your products to be like. Otherwise, suppliers won’t be able to produce your products accordingly, and there will be unnecessary back-and-forth communication, which is a waste of both your time.
4. Modifications to product design
If you want to make any modifications to your goods, be specific about how you would like the suppliers to produce them. If you are open to suggestions from the suppliers, tell them too! Suppliers can often suggest ways for how you can make your products more marketable or cheaper – so it’s a win-win situation for both parties. Again, information like this can entice suppliers to want to work with you.
5. Shipping lead time
Tell your suppliers clearly on when you need the products by, and how fast they have to be shipped out to you. Or else, you are just going to keep bugging them constantly with annoying inquiries, which is very unpleasant for both parties. Having a prompt shipping lead time indicates that you are serious about doing business with suppliers.
6. Logo and packaging design
If you are looking for custom-branded goods, it’s important that you let your suppliers know. Just attach a simple image file of your logo and packaging design in your email to suppliers. Or else, you can include links of examples or samples of what you have in mind so that suppliers can understand your logo and packaging requirements better. This will save you a whole lot of time and money dealing with potential conflict later on!
7. Pictures and images
Pictures and images speak a thousand words. Regardless of whether you and your suppliers are speaking in the same or different languages, always include images and illustrations of your ideal product design, your logo, your packaging requirements – whatever you need your suppliers to be clear on. This will help to prevent lots of misunderstanding and both of you will find the communication process much smoother.
So there you have it. These are the things that you should know before crafting an RFQ. After all, if your RFQ is well-crafted, it’ll be easy for any supplier to respond to it. By putting together a detailed RFQ, you will look more professional than most other prospective buyers, and this will increase your response rates.
Interested? Stay tuned as I offer you more tips on doing an eCommerce business! See you!
