There are some interesting online shopping sites that allow their users to bargain on their platform. You might not think about it now, but looking at its success, soon, more and more sites would be encouraging this fantastic feature on their sites.
Along the line, if you wish to incorporate such a feature on your eCommerce site, there can’t be a better time. During the Covid-19 pandemic, experts have seen exponential growth in the adaptation rate of people to online shopping platforms. By allowing your users to request a quote on their loved item, you can spike up your sales and enjoy first-mover advantages in your industry.
Why would this work out for you?
Price is something which people are never satisfied with. When you allow them to put a quote on their chosen product, they might feel they are more in control of the cost of a particular product. Price is the amount given by the buyer for a particular product or service. In other words, the price is the value you put up for a particular product that a person has to pay to be benefitted from the product.
Having said this, you must be well aware of the 4Ps of the marketing mix; there are two facts about the price which should interest you:
- Price is the only element in the marketing mix that produces revenue. Other ‘Ps’; Product, Place, and Promotion are considered to cost the business some money. Price is one of the most flexible marketing elements which can change instantly to meet the changing conditions—comparing as per these findings, prices of products are an essential part of any product journey.
- Price cannot be ignored as it plays an important role in a customer’s behavior when they are finding the right product or service from you. A lot of customers would love your product, but due to a little disagreement on the price point, they would immediately back off.
By understanding these two insights, you would now feel more confident about your choice of getting a request for quote extension on your stores. There are a number of extensions available online. However, one of the best-reviewed of all is Solwin Infotech’s Request for Quote extension for Magento 2 Stores.
The extension comes with a variety of features, such as:
– File Attachment Facility
– Quote Request
– Google ReCaptcha
– Facilitates the users to see all the old quote requests
– Compatibility with CE 2.1.x – 2.2.x – 2.3.x – 2.4.x | EE 2.1.x – 2.2.x – 2.3.x
Understanding these all, online stores can today help customers raise quotes individually via this request for quote extension, built for Magento 2 Stores.
Benefits of Using a Request for Quote tool on your Magento 2 Store
You can choose any tool to integrate RFQ tool on your Magento Store, and it would benefit you in the following ways:
1. Enhancing Customer Personalization
Personalization is the key to success today and in the coming years. More and more technologies are aiming to understand an individual’s buying behavior and are focusing on personalizing their experience on different platforms. Simply put, today, the game has completely changed from satisfying and being benefited by mass to being benefited by retaining individuals with a personalized experience.
Coming back to RFQ, the tool allows you to learn more about your customer’s needs and provide them meaningful, personalized services. Each time any customer submits a quote cart, they set a new price for each item in the cart, which is sent directly to Magento admins. This gives you an understanding of their affordability, preferred prices, and makes negotiations to help them have the products at a reasonable price.
2. Reduced cart abandonment
Just by allowing your users to bargain and negotiate the prices of products or services, you can reduce the cart abandon rate on your site. Your customers would not altogether leave the site disheartened but, by contacting the Magento store via quote cart, they become more hopeful of bringing new products to their homes.
Unaffordability is one of the biggest reasons to leave a store. Now, with the Request for Quote feature, people are able to shop more confidently with no pressure regarding the price.
3. Attract Wholesalers
It is one of the biggest attractions for wholesalers to be able to negotiate the price of the number of items bought by them from your Magento store. They often buy in bulk, and not many sites would give them a hefty discount just because of bulk buying. As a result, wholesalers would not go online and negotiate. But by offering a request for quote feature, you can now tap that market and instantly boost your sales.
Furthermore, maintaining a good client-business relationship with wholesalers gives you long-term benefits, as it is repeated business. If you have products or services that can benefit a wholesaler, you must consider adding an RFQ tool to your Magento 2 store.
What to expect in a Magento 2 Request for Quote Extension (Full Feature Reveal)
Before you make any decision, check out the features that a request for quote extension has to support your business.
1. Easy negotiation on product price in quote cart
Customers can instantly add new items into their RFQ cart, and since there is an Add to quote button next to each product, it is very convenient for them. When opening the quote cart, admins can easily change the item’s original price to their wished price and submit for approval to the stores. This is one of the core functionalities of the request for quote tool; it helps the store owners to keep their customers engaged through negotiations.
2. Current Shopping Cart to Quote Cart
The request for quote extension helps shoppers to convert their shopping carts into RFQ carts. It is a straightforward mechanism that only requires a few clicks. Typically, all they have to do is to choose the items or the entire cart to convert into a quote cart. It is convenient and supports shoppers to make a bargain on their current cart with ease. Thus, the shopping journey becomes more straightforward and easy for users.
3. Make a quote request at any place
Customers can add a product to the quote cart from any category of the products on your Magento store. They can even compare the prices of the different items and choose the one they wish to have. This can be done with the RFQ extension on the store. Moreover, the tools support different positions in which customers can add a product for a quote, such as product page, shopping cart page, and more.
4. Quote request on bulk items using SKUs
Customers would want to buy a product from you in large numbers, especially when you are targeting the wholesalers. This brings in a new challenge as you want them to add the items quickly to the RFQ cart to improve their experience on the site. For Quote Extension Support, you can add the product to the quote cart through SKUs. This makes the process faster and easier for big customers.
The RFQ module provides you a convenient box to add an unlimited number of products through it manually. After submitting the list, the related products will be added to the cart instantly. Seeing this, customers can buy from you the products in large quantities. Thus, it gives a great opportunity to hike your sales.
5. Accept/ Disapprove and Edit a quote Request
Finally, the admins can approve or reject the request for a quote from customers at the store backend. They can also edit the price and leave a message for the customers and look at their response to it.
The request sender is able to delete or cancel the quote request, too, in case they don’t want to keep it solved. Similarly, shoppers can offer a new price and edit their previous price, or original one to send it again to the admin for review.
Full Feature Reveal of Request for Quote Module
All in all, the entire motto of having a request for quote extension on Magento 2 Stores is to open a communication channel and boost sales. Here are the full features revealed:
For Store Owners
– General Configurations
– Turning on and off the modules
– Choose icons for the quote request
– Choosing categories on which the quote request would be provided
– Selecting the customer groups that can offer the request for quote
– Enable customers to upload file attachments to the quotes.
– Redirecting to the shopping cart page or checkout page
– Expiration of configurations
– Setting maximum days for quote validity since the approved date
– Enter the day number to remind customers of quote expiration
– Email Configurations
– Set the sender of the email to customers
– Set a time to send the email report to the admin
– Email notification each time the quote is submitted, edited, approved, and canceled.
– Reminder emails when customer’s approve quote request expire
– Send emails to customers when the quote is approved.
– Choose an email template for different types
– Grid management
– Viewing quote request information, such as status, customer, customer quote, store view, quote total, expiration date, and more.
– Make quote request from the backend
– Add products, customer, to the quote
– Edit, approve, cancel, and reply to quote requests.
– Quickly make a request for a quote with a preferred price
– Continuously discuss with stores for the quote request
– Get updates on real-time quote request changes
– Have a chance to buy products at discount prices
– Improve the shopping experience.
In conclusion, Magento 2 Request for Quote Module helps you in improving the shopping experience of your users on your site. It helps you to look into the individual needs of the customer and add the preferred item to the quote cart with their wished prices. After viewing quote requests, you can approve, cancel, and also discuss with the customers and modify the quotes. Hence the module supports both sides to reach a price agreement, reducing the cart abandonment with price reason and increasing purchases.