Jun 10, 2021
3:58 PM
- last edited on
Jun 21, 2021
10:47 AM
by
jennysowyrda
Hi, my name is Pete Nicholls CF APMP, HubSpot Certified Trainer, member of the Professional Pricing Society (PPC) and Proposal Certified by the APMP and host of The Proposal.Works™ Podcast where proposal experts share real stories of how they win.
To my knowledge, I am still the only certified business proposal specialist in the HubSpot Partner Community.
My company HubDo is a HubSpot Partner since 2015 (Reviews are here)
Please also connect with me on LinkedIn
With 23 years in Sales and Business Development, my focus on business proposals stems from “really disliking” doing proposals 🙂 until I learned how professionals write proposals. Now I quite enjoy them. I created the Proposal.Works™ Grid which is a proposal platform powered by PandaDoc, supporting hundreds of companies to create proposals integrated with HubSpot.
Our Proposal.Works™ Grid generates thousands of agreement per month, so I get to see and help with hundreds of proposals across many industries and sales scenarios. Unfortunately, most proposals that I see are fundamentally not very good. They are written by talented, passionate people, who simply never learned how professionals write businesses proposals. This means that you do not have to be remarkably better to stand out with a great proposal, you only need to 5% better, to be the 100% best proposal that the customer sees.
Welcome to "ask me anything" about how professionals write proposals and the overall sales process, especially those proposals integrated and automated with HubSpot CRM.
This “Professional Proposals AMA” runs from Friday 11 June to Friday 18 June 2021.
I’ll be monitoring regularly for questions and will be online each day for 30 minutes at 8 am, Pacific, 10 am Central, 11 am Eastern, 4 pm UK and 5 pm Europe
If you are not sure what to ask, here are some ideas:
Jun 18, 2021 6:13 PM
Great AMA @HubDoPete I hope it's not too late to ask the last question, this is something we are always struggling with, how can we sell value in a proposal? I saw this question posted as an idea but nobody asked and I'm curious to know. Thanks!
Jun 19, 2021 11:48 AM
Hi @FatimaDS thanks for asking
Actually, I have provided an initial answer above on Value-based Pricing for @jennysowyrda
Please take a look at that answer and feel free to ask a further question, to delve further into the fascinating topic of Selling Value.
cheers
Pete
Jun 18, 2021 12:08 PM
Wrapping up this Professional Proposals AMA today.
I have enjoyed checking in each day and putting together as comprehensive answers as I can, based on experience and my certifications through the APMP, Professional Pricing Society and as HubSpot Certified Trainer.
Thank you for your questions and especially @sharonlicari for suggesting and supporting my first HubSpot Community AMA 🙂
While this topic remains open - please mention me and I'll be happy to oblige.
cheers Pete.
You can also connect with me here: https://www.linkedin.com/in/penichol/
Jun 21, 2021 5:01 AM
Thank you for hosting this AMA @HubDoPete !
Your knowledge about this topic is incredible and I can tell you are really passionate! 😉 Thank you again for sharing with so much detail your expertise with our Community! I hope we can keep learning from you moving forward!
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Jun 18, 2021 5:53 AM
Hi @HubDoPete,
Interesting topic! I've tried the quotes feature in HubSpot, but it seems you're pretty limited in terms of design - the position of the logo, adjusting the products columns ... Does the classic template work well for you or are you using your own template?
Thank you for your answer in advance!
Laura
Jun 18, 2021 7:35 AM
Hi @LauraStein thanks for your question!
Yes I agree, the strength and weaknesses of HubSpot Quotes are that you have a few basic designs to choose from so are easy to use, yet limited.
For basic quotes, we find that the native HubSpot Quote tool works great.
Beyond that, we turn to richer features via integrations such as PandaDoc, QWILR and Proposify or other RFP tools.
We have ended up being PandaDoc's biggest partner because it's flexible for a wide range of use cases for layout and automation with HubSpot & other tools.
Plus regular users can create and edit templates and design themes.
Good news... there are custom quote templates coming to HubSpot, currently in Beta.
Here are the Beta Program details: https://developers.hubspot.com/docs/cms/building-blocks/templates/quotes
The new Custom Quote Templates are very similar to creating CMS templates for web pages, with a lot of flexibility. At the same time, Custom Quotes Templates are not something a regular HubSpot user will create. Rather, it is intended that your Website CMS template designer creates your Quote Templates.
We are on the HubSpot Custom Quote Templates Beta but probably won't do a great deal with it when released, only because once we go beyond basic quotes, we need the content library and other features of the specialised proposal platforms, where regular users can also create their templates and designs.
I'm interested to hear if you think the HubSpot Custom Quote Templates currently in Beta will be a good solution for what you need?
cheers
Pete
Jun 17, 2021 10:17 AM
thank you for this AMA @HubDoPete I've been reading your replies and it's all very interesting!
Can you talk more about the content library and what it should countain? What are the best practices for that?
thank you for your time,
Emmanuel
Jun 17, 2021 12:55 PM - edited Jun 18, 2021 3:35 AM
Hi @EJS thank you I appreciate that. It has been fun hosting an AMA thanks to HubSpot.
The content library is your repository for re-usable modules, ready to insert into a document to:
Content libraries commonly contain product and service agreement sections. For example, a section to drop into a proposal, that details a service relevant for this client.
Better content libraries also contain customer-focus materials, that I call "Hot Packs'
Hot Packs start by knowing all the "Hot Buttons" of why customers come to our company to buy what you do.
A Hot Pack contains items that decisively position your company well, in the ability to hit that hot button, with independent proof that you do.
For example a Hot Pack in the content library for a voice coaching company:
That is a fictitious example, but it is a Hot Pack for that hot button - to drop into the proposal, when you have learned that a potential voice student mentioned that being confident to sing in front of their family is important to them. Sarah's statement is directly relevant proof.
The content library has just what you need to drop into a proposal and hit the button.
These are some examples of a good proposal content library. It can include videos, graphics, case studies - anything you need to make a customer-focused proposal.
I hope that helps!
cheers
Pete
Jun 17, 2021 8:35 AM
Thank you for starting this conversation, @HubDoPete! I'd love to hear more about what value-based pricing is.
Jun 17, 2021 12:31 PM
Hi @jennysowyrda that is a great question and "big" question...
Big, because value-pricing is like choosing between the Red Pill versus Blue Pill. in the movie The Matrix.
The scene where Morpheus says he can show just how far the rabbit hole goes...
Value Pricing is a mind shift. Instead of pricing by the hour or pricing as cost-plus-margin deliverables (as many businesses do), it is about creating value and capturing value.
What is value?
Like beauty is in the eye of the beholder, value is in the eye of the customer.
So value-based pricing requires a deep understanding of the true value to the customer of the benefits that you provide.
Benefits can have tangible (measurable) value and also intangible value (more emotionally driven). Value Pricing incorporates both.
Some say that you measure what matters, so what really matters should be measurable.
But...
Usually the opposite is true. How do you value your mother, your child, winning the marathon. Intangibles are usually more impactful and valuable.
Yet we also need sound tangible value, as we often make decisions based on intangibles (emotion) and then justify it to others, and the business, with logical tangible metrics.
I am a member of the Professional Pricing Society, where around 5,000 members tackle this very topic - how to create and capture value.
Reading books is a great way to start. understanding value-based pricing.
Either take the blue pill and remain in the easy to comprehend land of hourly billing and cost-plus-margin deliverables.
Or take the red pill by reading some of the following and see how far down the rabbit hole you go:
Recommended reading on Value-Based Pricing:
Also consider listening to the "Impact Pricing" Podcast by Mark Stiving, Ph.D.
It's a fascinating topic, also heavily influenced by behavioural economics too.
I hope that helps open a crack in the door on value-based pricing.
I hope that if you choose the red pill, it leads to your valuing what you do, creating even more value, and increasing your profits by learning to measure and capture that value too.
cheers
Pete
Jun 18, 2021 12:30 PM
Thank you @HubDoPete! That is fascinating - I have a feel we could chat about this topic for hours and only skim the surface! I appreciate the podcast and book recommendations, too! I'm going to have to pick them up! 🤓
Jun 17, 2021 4:45 AM
Hi Pete,
Do you (Did you help to) integrate HubSpot proposals with ERP systems? If so, which tool would be more compatible with HubSpot in your experience?
Jun 17, 2021 11:21 AM
Hi Vanessa, Sorry no, I have not integrated HubSpot proposals with ERP systems.
I have been in planning conversations to integrate PandaDoc with ERP, but it usually becomes apparent that the HubSpot Deal should be a single source of truth (SST)
So the focus then shifts to integrating the HubSpot Deal Line Items with the ERP system.
That becomes a custom API build so we redirect the project to those with the skills to map and build the custom integration.
cheers
Pete
Jun 16, 2021 7:10 AM
Hi Pete, I appreciate you're having the time to host this event.
All the questions that have been answered make so much sense, I think this is so valuable. I'm wondering how and what can I automate in HubSpot to handle proposals? what strategy would you recommend?
thank you in advance
Jun 16, 2021 7:22 AM
Thanks @Rubee !
HubSpot makes it simple to create and send a quote, and you have the ability to add some custom text.
HubSpot is also developing an enhanced version of quotes, with a template like you would use with HubSpot Emails.
That extra flexibility will allow you to send a more extended quote as a proposal. It is still a manual step though, for the sales team to do.
A popular way that we set up proposal automation in situations where it suits very well, such as a private school application, is to:
We usually create the working system as proof of concept and if it meets the objectives then the system can take care of itself 24x7, which gives you that sweet feeling of "automation Zen" 🙂
I hope that helps!
Jun 15, 2021 5:51 AM
Hi @HubDoPete
Thank you for hosting this AMA, I think this topic is really interesting.
What would be the first steps to take into consideration to start with a good proposal? Would you say investing in proposal software will make my team save time? and when would you recommend using quotes?
Thank you for your time
Rosa
Jun 15, 2021 11:42 AM
Thanks @Rosita44 I hope some of the tips shared here will help!
First steps for a good proposal:
Investing in proposal software typically does save time. Most companies that we support, report time savings of 5 to 20 hour per month.
By valuing your time, the saving alone might be enough of a payback to give you a strong return on investment for the software.
Other benefits that proposal software users tell me about are professionalism (look the part); ease of getting sign off & payment; and a streamlined sales process.
Proposal software usually includes a content library, which is a perfect repository for drop-in discriminators with benefits, features and independent verifiable proof.
HubSpot quotes are great if the client's decision is made and they just need the price confirmation to place the order. If however, you are supporting the case for a transformation (before vs after) for the client, then a proposal is a stronger framework to present that investment for their transformation.
I hope that helps, let me know how you go!
Jun 14, 2021 4:16 PM
Can I cheat and ask you to answer all of the questions you offered? They are really good questions!
And because you have been in the trenches for a very long time, I am curious on
A: what you consider to be the bedrock components. The things that don't change with time.
B: what has changed with time. I imagine that over the last 20years, there has to have been quite an evolution of what a proposal is, how it is delivered and how it is perceived by the potential customer.
Lasty and unrelated, how are you enjoying the podcast world 😀 I poke around in that area, too.
Jun 14, 2021 6:08 PM
Thanks @dennisedson 🙂
For your A/B questions:
(A) Bedrock Components that do not change:
(B) What "has" changed in 20 years: is a reduction in trust, better-informed buyers and an increased need for customer focus.
I hope that helps!
Asking all the questions... haha that might take me a while 🙂
Are there one or two example questions that stand out for you, so I can answer in context for you?
cheers
Pete
Jun 15, 2021 11:52 AM
Thanks for the answer!
These 2 questions standout to me (again, they are all good)
What do professional proposal writers do, that others don’t?
When is the right time to submit a proactive proposal?