What is a sales quote?

A man sitting at a table with a cup of coffee on it types on his laptop to create a sales quote.

Learn what’s involved in sales quotes and why they’re vital to your business’s success.

Successfully closing a sale is an art form, and a sales quote is a vital part of the process. But what are sales quotes in business exactly? Their purpose can be unclear, particularly if you’ve just started working in sales, so let’s explore their meaning and why sales quotes are so important.

What is a sales quote in general?

A sales quote is a document that tells a potential client how much your product or service will cost. It’s also known by the name of a business quote. It’s not a legally binding contract but rather a formal notice of the estimated price. It also introduces your company and product or service range, so it’s a good idea to provide an item-by-item breakdown of everything included in the quote.

Now that you have the answer to “What is a sales quote?,” let’s define the purpose of sales quotes in business.

What is a sales quote in business used for?

Sales quotes are essential for many businesses because they establish a base price for goods and services. This helps customers financially plan accordingly to make the best decision for themselves and their business. A sales quote helps the business providing the quote to gather resources for upcoming orders.

The following are some examples of what sales quotes are used for:

Sales quote types.

There are three main types of sales quotes, each with a different purpose:

Should you have approval deadlines for sales quotes?

Ideally, you should have an approval deadline for a sales quote to keep the customer engaged and ensure the process isn’t too drawn out. While the sales process shouldn’t be rushed, extending it too long with lots of back-and-forth communication can cause customers to lose interest.

What’s required in the sales quoting process?

Each sales quote process will be slightly different, but here is some general information that you should include each time:

Remaining in contact with your customers and giving them all the proper documentation from the start will help ensure smooth sailing with the sales process.

Improve your sales quote workflow.

A delayed quote could cause a client to choose another provider. A smooth sales quoting process is, therefore, critical for your business. Digital quotes are fast to deliver and process and can help you grow your business.

Adobe Acrobat lets you instantly share documents. Plus, you can add e-signature fields so your clients can quickly approve your quotes and track each document’s status.

Explore what more Acrobat can do to help you more easily manage your business’s documents and processes.