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Everything you need to know about your business proposals

Closing a sales deal is not the easiest thing to do. It results from numerous factors that must be taken into account, and which are important to know if you are looking to increase your conversion rate.

How do you know when to send your business proposal? How long is it read on average? What is its “lifespan” in the recipient's mailbox?

21.86% of sales proposals are never read!

In 2018, only 78.14% of sales proposals were read.

This means that nearly 22% of the proposals are never read! That is more than one in 5…

This may seem like a staggering statistic, but this number increases over time.

In 2017, the offer reading rate was at 82%: a decrease of 4 points in two years that is worrisome and raises questions. Are prospects becoming more and more discerning? Or is there a problem with the needs qualification by sales representatives?

When you are looking to increase your conversion rate from the quote to the order, you may need to start making sure that your offers are read properly. If your clients don’t have time to read, they won’t have the time to sign…

1st and last reading

On average, it will take a prospect 50 hours to read your business proposal for the first time, and your offer has an average “lifespan” of 65 days (the time between the first and last reading of the document).

How are the business offers read?

The reading time of a sales proposal is down compared to the previous year. In 2017, the reading time was 74 seconds, or 1 minute and 14 seconds. In 2018, it was only 44 seconds. 

On the other hand, the number of people reading a business proposal is increasing. In 2017, each business proposal was read by 1.69 people. In 2018, the average is 2.1 people…

As a general rule, we can see that reading time decreases while the number of readers increases. It is therefore essential to quickly identify the right decision-maker in order to increase the conversion rate.

Tuesday: the day your business proposals will be read

According to the study, Tuesday is the preferred day for your prospects to read your business proposals. In fact, on that day, 19.85% of the proposals were read. Wednesday and Thursday are the following days.

85.4% of readings are conducted on a desktop computer

In 2017, the smartphone reading rate was 12%. In 2018, this figure rose to 14.6%. That's why you shouldn't neglect the appearance of your documents on mobile phones and tablets. However, despite this slight increase, prospects prefer to read sales offers on the big screen for the sake of focus and overall productivity.

These statistics are crucial to note in order to optimize your subsequent follow-ups and thus increase your conversion rate. Behaviours are changing and we must constantly adapt the actions we implement in order to achieve the optimal sales process.

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