1. Proposal format: Word

Having received and created many throughout our careers, most of us will be very familiar with business proposals produced by Microsoft Word. But just how effective is this popular proposal format?

The pros

One of the main reasons Word proposals are so common in the sales industry is because they’re extremely easy to create. Whether starting from scratch or using handy templates, adding text and images to a Word file takes very little technical know-how.

A Word proposal is also easy to edit. You can directly amend the document with internal or client changes, click ‘Save’, and the updated version of your proposal is ready to go.

Accessibility is another major benefit of Word proposals. When you send a Word document to a client, you rarely have to worry if they’ll have any problems opening the file.

The cons

Word files may be easy to create for an individual, but this proposal format’s content creation process is ineffective at enterprise level. In fact, allowing employees to create, edit, and send their own Word proposals is a recipe for human error and compliance issues.

Without centralized governance, you can’t guarantee individuals will build their documents using up-to-date brand assets, such as fonts, logos, and templates. Unless they continuously refer back to your latest style guide and asset library, they could unknowingly be circulating off-brand and unprofessional documents. Worse still, these proposals could include serious deal-breaking elements such as old pricing structures, outdated clauses, or incorrect legal disclaimers.

Word proposals don’t facilitate effective collaboration. When multiple document editors are involved in creating a proposal or if a client needs to add feedback, further compliance issues can arise. If changes need to be made, you have to send your proposal to a colleague or client, who then has to download the file, make their changes, and send it back to you.

This back and forth process risks human error such as overwriting important information and editing or sending the wrong version of the document. It’s also likely that sellers will run into inevitable bottlenecks in workflows as they have to wait for the proposal to be returned before proceeding with their edits or reviewal phase. This delay is not ideal when it’s a priority to get the proposal to the client as quickly as possible and make the signing of that proposal easy and convenient.

2. Proposal format: PDF

PDFs are another popular proposal format widely circulated in the sales industry. This chosen format functions very similarly to Word files for both pros and cons, except for the points below.

The pros

Like their Word counterparts, PDFs are easy for users to create and edit. This proposal format example also has the added bonus that, unlike Word proposals, you don’t need an app to open PDFs. Plus, they look great when opened on any device.

Proposal format ideas and content are also harder for a recipient to edit in PDF form, counteracting the problem of your colleagues or clients deleting or writing over important information. Edits to the proposal need to be communicated to its creator, so you can have more control over the file’s contents, which is particularly helpful for both ensuring correctly branded content, and also securing the correct details in the information.

The cons

While limiting editing powers gives greater control over a proposal, it also turns the collaborative process into a nightmare. Unable to make changes directly in the same file, proposal co-authors have to either print the PDF out, annotate it, scan it and send it back, or send vital and sometimes highly confidential information over multiple emails. This editing process is both time-consuming and risky, potentially involving some worrying security breaches.

Finalizing a PDF-powered deal is also problematic. Unless you invest in additional esignature software, the client must print the file, sign it, and send it back. According to a 2020 marketing study, the need to physically print out a proposal reduces the chance of it getting signed by up to 78%. If your deal involves multiple signatures, you can also expect to spend valuable time chasing (and possibly annoying) your fellow signees and collaborators.

3. Proposal format: Web proposal

Created using web-based proposal software, web proposals are arguably the most effective format available to remote sellers. From automated document creation to smart integrations, here’s how the features of web proposals compare.

The pros

Facilitating integrations with other enterprise technologies, web proposals are created much faster, in more compliant and collaborative processes than those used for Word and PDF files.

Most modern web proposals are created online using automation-powered proposal format templates, significantly speeding up the creation process. These templates can integrate with CRM and DAM solutions to automatically populate a proposal with personalized, on-brand elements that require minimal editing. Human error is reduced, brand compliance is maintained, and a proposal is client-ready in moments.

Web proposals essentially appear and act as web pages, meaning you can send your client a link to your suggested deal, rather than an attachment. Proposals areeasily accessible, optimized for any device, and sellers can rest assured that all parties will be viewing the latest version of the file.

Collaboration is optimized by web proposals thanks to co-authoring capabilities, which allow multiple users to work into a document at the same time. Permission settings can also be applied, so you have maximum control over proposal content. You no longer have to wait on colleagues before making your changes or spend time checking if all crucial information has remained intact.

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Getting that all-important signature is made incredibly easy through integrations with eSignature software. Clients simply have to click a tick box or use their finger to outline their signature, and you’ve got your legally binding digital signature. In an age where we unlock our phones with our face or pay for our latest purchase with our thumbprint, this is the sort of seamless interaction expected of today’s market.

Web proposals, with their webpage-like format, are very useful for collecting data and powering insight-driven sales. Using proposal analysis software, creators can track real-time interactions with their proposal, understanding who has opened the file, how many times it’s been viewed, where a client stopped reading, how many times a section was read, and if the proposal was forwarded. This rich data allows sales teams to approach prospective clients with smart, tailored information that is positioned to answer their bespoke requirements successfully.

The cons

Unlike Word or PDF files, employees will need to allocate time to get trained up on web-based project proposal software so they are able to easily create, edit, and manage web proposals.

However, most modern proposal solutions are intuitive, user-friendly, and reduce training time with in-app prompts and instructional videos. You will also quickly recoup time spent getting familiar with proposals software by speeding up the document creation process, optimizing collaboration, and eliminating time spent chasing signatures or amendments.

The cost of web proposals software is also higher than an Office or GDrive subscription, which is needed to create Word or PDF files. Again this initial investment soon makes its way back into the company. Employees can create more smart proposals faster, giving them more time to generate new business and secure value-driving deals.