Start A Proposal Software App - Business Ideas
A proposal software app is a program that streamlines the process of creating, sending, and closing proposals, quotes, contracts, and other sales documents. The common users of proposal apps include consultants and business executives who want to generate a personalized and professional-looking proposal. A good example of a proposal software app is Proposify
In creating your proposal app, first, understand how the target users interact with their proposals. Then, provide them with a suite of options so they choose ones that they feel convenient to use. Ensure your software enables the user to produce sleek business proposals quickly.
Typically, the proposal software should be intuitive for any user and should include critical automation and support client interaction tracking, to make proposal creation easy. Build a great product that solves your customer’s pain.
Finally, set up a customer support team that will be directly responsible for guiding customers through the onboarding process, and work towards retaining and expanding accounts.
Starting a proposal software app requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell proposal software, or selling proposal software online, you can use this page as a guide for everything you'll need to know.
Key Stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
|
Office Space Expenses |
$0 |
$7,000 |
|
Employee & Freelancer Expenses |
$151 |
$352 |
|
Website Costs |
$223 |
$7,215 |
|
Business Formation Fees |
$5,600 |
$20,400 |
|
App Creation Costs |
$1,000 |
$20,000 |
|
Training & Education Expenses |
$0 |
$1,000 |
|
Software Expenses |
$162 |
$3,094 |
|
Advertising & Marketing Costs |
$0 |
$6,500 |
|
Total Startup Costs |
$7,136 |
$65,561 |
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
|
Proposify |
proposify.com |
8,737 |
|
|
Better Proposals |
betterproposals.io |
20,820 |
|
|
Qwilr |
qwilr.com |
23,408 |
|
|
Bidsketch |
bidsketch.com |
43,390 |
|
|
Practice Ignition |
practiceignition.com |
50,993 |
|
|
Quoting Software |
quotientapp.com |
57,851 |
|
|
Nusii |
nusii.com |
68,049 |
|
|
Solo |
gosolo.io |
70,470 |
|
|
Project-Management.com |
project-management.com |
73,105 |
|
|
Loopio |
loopio.com |
80,378 |
|
|
Proposable |
proposable.com |
86,051 |
Pros & Cons
| Pros | Description |
|---|---|
|
Ability to start your business from home |
It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning! |
|
Rewarding work |
Starting a proposal software app can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about. |
|
Scalable |
With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers. |
|
No overhead costs |
To get your proposal software app started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money! |
|
High customer retention rates |
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer. |
|
High margins |
The gross margins for your proposal software app are typically around 75%, which is considerably high and allows you to grow your business and manage costs easily. |
| Cons | Description |
|---|---|
|
Security Issues |
With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road. |
|
Churn |
In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible. |
|
Time commitment |
With starting a proposal software app, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business. |
|
Difficult to build trust with your customer |
With starting a proposal software app, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business. |
|
Complex development process. |
The development process for a proposal software app can be quite complex, which may cause delays and challenges when launching and growing your product. |
|
Complex maintenance |
Your proposal software app will require a long-term investment due to the need for updates, bug fixes, and security vulnerabilities. It's important that you (or someone on your team) stays on top of this at all times. |
Marketing Ideas
-
1
Affiliate Program
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
-
2
Direct Sales
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
-
3
Word of mouth
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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