What is RFQ?
– Readymade Inquiries for Sellers to Quote
RFQ is a hot buzzword for Alibaba.com active users and still many Gold members are unaware of this big opportunity to meet their prospective buyers on this platform. RFQ means Request for Quotation, where buyers can raise their requirement to global suppliers and through RFQ submission; sellers can offer their competitive quote (complete product information along with pricing terms and shipping.)
RFQ is posted by the buyer, which is reviewed by Alibaba’s industry expert before publishing. RFQ is high quality buying request than a general inquiry because it is screened by the experts before publishing or delivering the quote.
RFQ Process that Makes It Reliable
-Stringent Way of Genuine Business
- Buyer submits RFQ
- Alibaba.com reviews RFQ
- Suppliers submit quotations
- Alibaba.com screens quotations
- Buyer receives quotations
- Trade begins
How to Get Business Relevant RFQs?
-Target the Right Buyers
Several steps will help you to get quality RFQs relevant to your business products-
- Require to set appropriate product keywords in Alisource (Max 20 keywords can be set for RFQ)
- Need to upload all your focused business products to get Recommended RFQs
- Sign in at sourcing.alibaba.com and start submitting RFQs
-Rights Inherited in Gold Members
As per the latest formula for RFQ allotment w.e.f 01.10.2016, all members have the same basic rights of 20 RFQs per month. One can increase the monthly quoting rights by improving the monthly performance score based on various parameters.
The Factors that Influence Market Performance Score
- Number of days signed in
- Number of RFQ quotations
- Average quotation response time
- 24-hour quotation response rate
- Buyer satisfaction rate
- Total number and value of Trade Assurance orders which have cleared customs
Alibaba calculates user’s performance in RFQ marketplace based on company dimension, so as to reward rights according to performance score of each month. Alibaba reserves the right to revise or update these RFQ rules at any time.
How We can help you in RFQ Submission?
-Have Ease in Submitting Quotation to Buyers
- RFQ submission is a daily process to get on the Fresh RFQs to quote.
- For RFQ submission, our experts analyse the client products/keywords.
- Set the most relevant business keywords to get the accurate RFQs for the products.
- Confirm the focusing countries for client business, where to submit the RFQs on priority.
- Submit the RFQs with all required product information, shipping, tentative pricing, payment terms and other details.
- We can submit the initial quote and on getting acceptance and response from the buyer end, client can make further communication and close the deal at their end. Our role is limited up to submit the RFQs.
Benefits of RFQ Submission with Us
– Discover the Unrevealed Business Opportunities & Quote before Your Competitor Gets Order
- You can save your time and resource, as this is a regular process.
- Regular RFQ submission will improve your performance score that creates more trust value and get more quoting rights, means to increase opportunity to submit more quotations to buyers from different countries.
- We keep all product information very confidential as they are the sole property of our clients.
- This way it can generate the most appropriate leads for your business with the help of Opal RFQ expert, as this is as important as getting inquiries. And you can use the important feature of Alibaba.
So, if you are an Alibaba Gold Member and missing the opportunity to submit the quote to your prospective buyers, CALL US TODAY!