What do you think of when you hear the word “business proposal letter”? For some, it may conjure a sense of a formal, authoritative document that’s planned strategically and outlined in detail. However, for others, a business proposal letter might seem like a less necessary part of the process, especially if you’re working with a company that already has a system in place to handle these types of documents.
Let’s get into what these letters are and why you should use them.
What are they (business proposal letters)?
A business proposal letter outlines the reason for proposing an agreement between two entities. It is typically written by an individual or company to convince another party that they would be interested in entering into a contract or partnership.
There are several parts of a business proposal letter, including the introduction, the intent of the proposal, specifics on what is being proposed, and finally concluding remarks.
A formal business proposal letter is the first step of any successful business deal. The letter should be written to a prospective customer with the intent of getting them on board with your idea and to agree to work with you. You can include information such as your company’s mission statement, what you do, and how you might help them.
When do you use proposal letters?
A business proposal letter is a letter written to secure a meeting with a potential client. Proposal letters are often used in conjunction with an initial introduction letter – the first step of the sales process. The goal of these letters is to convince potential clients that they should buy your product or service.
These letters are written in order to show more of the company and what the company is capable of doing for the potential client. The letter should also include specific points that will be outlined in the proposal, such as pricing and timelines so that it is clear what the potential client is getting into before signing any contracts.
How to write a business proposal letter in 5 steps?
1. Address your prospect
Always start your proposal/cover letter by addressing your prospect. Many times people start their cover letter by writing something like “To whom it may concern” (this is unacceptable).
Find out the names of all the key contacts who will be reviewing your business proposal and address them specifically. By addressing your proposal cover letter directly to key contacts will help you make quick connections and immediately increase the chances that they’ll read your letter. And it will make a very good first impression and show that you care.
2. Get to the point
Don’t start with a descriptive introduction instead get straight to the point, and focus on outlining how your services will work for their pain points.
4. Highlight What Sets You Apart
Along with outlining how your services can solve their CORE pain point, you need to showcase the valuable assets that set you apart from your competitors.
- Talk about the years of experience you have in the industry.
- Include past experience with a similar issue by outlining the unique process you followed to achieve successful results.
5. Make Yourself Accessible with a Strong CTA
Just like any good sales communication, end your cover letter with a strong CTA. State what you want them to do next and who they should contact for further questions or concerns.