Try fixed price quotes to improve win rate

There are many tips and tricks that you can try to win jobs more often. Having a complete business profile and being courteous to your customers can help make a good first impression. However, quoting with a fixed price can further increase your chances of winning work.

Fixed price quotes have higher win rate

Service Seeking data shows that businesses who quote with a fixed price are 38% more likely to get hired than businesses who quote with only an approximate price or a rate (e.g. hourly, per sqm, per metre).

The gap in the win rate gets a bit bigger when fixed price quotes are compared with range quotes. Businesses that quote with a fixed price are 42% more likely to win a job than businesses that quote with a price range.

Why customers prefer fixed price quotes

Customers are drawn to fixed price quotes because these easily tell them from the get-go the exact price that they’re going to pay. It also makes them more confident in hiring knowing that the quoted price is the most that they’re going to spend¬†for the job.

Another reason is that, fixed prices usually stand out. According to data we’ve gathered from June 2016 to December 2016, around 14,700 businesses quoted with approximate prices. Meanwhile, there were about 9,400 businesses that quoted rates and around 9,300 businesses that quoted price range. Only about 3,200 businesses quoted with fixed prices.

So among businesses that mostly quote approximate prices, you’ll definitely grab the attention of customers with a fixed price deal.

Want to know whether most of your local competitors are quoting fixed prices, approximates, rates, or range? Log in to your Service Seeking account and check out the Analytics tool.