How to Configure Magento 2 Negotiable Quote Feature?

• What is Magento 2 Negotiable Quote?

• Prerequisites of Magento 2 Negotiable Quote

• Benefits of Magento 2 B2B Negotiable Quote

• Magento 2 Negotiable Quote Workflow

• Steps to Configure Magento 2 Negotiable Quote

• FAQs

• Summary

What is Magento 2 Negotiable Quote?

Magento 2 Negotiable Quote is a feature within the Magento 2 ecommerce platform. It allows customers to negotiate the price of products with the merchant.

It is particularly useful for Magento 2 B2B transactions where prices might vary based on factors such as:

• Order Quantity

• Customer relationship

• Specific agreements.

With a Negotiable Quote, customers can request a quote for products that they are interested in purchasing. Merchants receive these requests. They can then negotiate the price directly with the customer through the Magento backend. Once an agreement is reached, the proposed price can be finalized. The customer then proceeds with the purchase.

The feature streamlines the negotiation process, making it more efficient for both customers and merchants. It also helps build stronger relationships between businesses.

Prerequisites of Magento 2 Negotiable Quote

1. Magento 2 Version

You need to have Magento 2 installed and running on your server. You should also ensure that you are using a version of Magento 2 that supports the Negotiable Quote feature.

Note: Negotiable Quote was introduced in Magento 2.3.1, so you need to be using this version or a later one.

2. System Requirements

Make sure your server meets the Magento 2 system requirements. It includes:

• PHP version

• MySQL version

• Other server configurations as per Magento 2 requirements.

3. Magento 2 Store Configuration

You should also ensure that your Magento 2 store is properly configured, including:

• Store information

• Tax settings

• Payment gateways

• Shipping methods.

4. Extensions Compatibility

Check for any conflicts or compatibility issues with other extensions installed on your Magento 2 store. It is essential to ensure that the Negotiable Quote extension works with other extensions uninterruptedly.

5. Customization Requirements

Determine if any customization or integration is needed with your existing store functionalities. A negotiable Quote extension may require some customization based on your specific business requirements.

6. B2B Module

Negotiable Quote is a feature primarily designed for B2B transactions. You should have the Magento B2B module installed and configured on your Magento 2 store.

7. User Roles and Permissions

Define Magento 2 user roles and permissions to control who can negotiate quotes. Make sure your administrators and sales representatives have the necessary permissions to:

• Create

• Manage

• Negotiate quotes.

8. Customer Accounts

Negotiable Quote works best when customers have registered accounts on your Magento store. You should ensure that your B2B customers have accounts set up and that they are logged in when requesting quotes.

9. Enable Quoting

In the Magento Admin Panel, navigate to the B2B settings and ensure that quoting functionality is enabled. You can configure various settings related to quoting. These include whether customers can request a quote directly or if they need to negotiate with a sales representative.

10. Price Rules

Set up any price rules or pricing structures that will be applied during the negotiation process. It could include:

• Tiered pricing based on order quantity

• Discounts for specific customer groups

• Other pricing adjustments.

11. Email Configuration

Configure email templates and notifications for the quoting process. Make sure that both customers and administrators receive timely notifications. The notifications should be received when a quote is requested, negotiated, or finalized.

12. Training

Provide training for your sales representatives on how to use the Magento 2 b2b quote feature effectively. They should understand:

• The quoting process

• How to negotiate prices

• How to manage quotes through the Magento Admin Panel.

Benefits of Magento 2 B2B Negotiable Quote

1. Flexible Pricing

Customers can negotiate prices based on factors such as:

• Order Quantity

• Delivery schedules

• Specific requirements.

The flexibility allows merchants to accommodate varying customer needs. It also helps maximize sales opportunities.

2. Improved Customer Experience

Negotiable Magento B2B Quote enhances the customer experience by providing a platform for:

• Transparent communication

• Personalized pricing.

Customers feel empowered to negotiate prices that meet their budgetary constraints. It leads to higher satisfaction and loyalty.

3. Streamlined B2B Sales

For B2B transactions, a Negotiable Quote streamlines the quoting process. It allows customers to request quotes directly from the Magento storefront. It helps reduce the need for manual negotiations via email or phone. The streamlining also saves time for both customers and sales representatives.

4. Increased Conversion Rates

By offering negotiation options, merchants can convert more leads into sales. Customers who may have been hesitant due to pricing concerns can now engage in negotiations. It leads to higher conversion rates and revenue generation.

5. Better Relationship Building

Negotiating prices builds stronger relationships between merchants and customers. It creates opportunities for open dialogue and collaboration. It also helps build trust and loyalty over time.

6. Efficient Management

Merchants can manage quotes efficiently through the Magento Admin Panel. They can easily track the status of each negotiation and finalize agreements with ease. The centralized system reduces administrative overhead. It also helps ensure that quotes are processed in a timely manner.

7. Competitive Advantage

Offering a Negotiable Quote gives merchants a competitive edge in the market. It demonstrates a willingness to work with customers to meet their needs. It also distinguishes the business from competitors that may not offer similar flexibility.

8. Data Insights

The quoting process generates valuable data insights. Merchants can leverage these insights to:

• Optimize pricing strategies

• Identify trends in customer preferences.

The data gathered can also inform future pricing decisions and sales strategies. It drives business growth and customer satisfaction.

Magento 2 Negotiable Quote Workflow

1. Customer Requests a Quote

The customer browses the Magento store. They then select the products they are interested in purchasing. The items are not added directly to the cart, and they do not directly proceed to checkout. The customer instead selects the "Request a Quote" option.

2. Quote Request Submission

Upon selecting the "Request a Quote" option, the customer fills out a form specifying details such as:

• Desired quantity

• Delivery Schedule

• Any other relevant information.

The customer then submits the new quote request. The submission triggers a notification to the merchant.

3. Merchant Review and Response

The merchant receives the quote request notification through the Magento Admin Panel. They then open the quote and review the details, including:

• The requested products

• Any additional information provided by the customer.

Based on the information provided, the merchant evaluates the request. They then determine whether to quote the total price or reject the quote.

4. Negotiation

If the merchant decides to negotiate the price, they can propose a counteroffer. They then send the quote to the buyer through the Magento Admin Panel. The customer receives a notification informing them of the merchant's counteroffer. The customers then can either accept, decline the quote, or propose further negotiations.

5. Agreement and Finalization

Once both parties agree on the quoted price, the merchant finalizes the quote through the Magento Admin Panel. The customer receives a notification confirming the finalization of the quote. They also receive instructions on how to proceed with the purchase.

6. Conversion to Order

Upon receiving confirmation of the finalized quote, the customer can convert the negotiated quote into an order by following the instructions provided. The customer completes the purchase process by proceeding to checkout. They are then required to make payment for the quoted price.

7. Order Fulfillment

After the customer completes the purchase, the merchant processes the order. They then fulfill the requested products according to the agreed-upon terms.

Steps to Configure Magento 2 Negotiable Quote

1. Install and enable a Magento 2 extension that provides negotiable quote functionality.

2. Navigate to your Magento 2 admin panel.

3. In the admin panel, go to Stores > Configuration.

4. Under Sales, locate the Negotiable Quote settings. Enable the negotiable quote feature from there.

5. Determine which user roles have permission to negotiate quotes. You can configure this in the admin panel under System > Permissions > User Roles.

6. Configure settings related to negotiable quotes, such as minimum and maximum quote amounts, expiration time for quotes, etc. These settings are usually found within the extension's configuration options.

7. Customize the email templates that are sent to customers when a negotiable quote is created, updated, or accepted/rejected. You can find these email templates in Marketing > Email Templates.

FAQs

1. Can customers request a quote for multiple products at once?

Magento 2 Negotiable Quote allows customers to request a quote for multiple products simultaneously. They can add the desired products to the cart and then proceed to request a quote for the entire cart.

2. Can Magento 2 Negotiable Quote be integrated with other Magento extensions?

Magento 2 Negotiable Quote can be integrated with other Magento extensions. It enhances the functionality and streamline the quote management process. The exact integration possibilities depend on the specific extensions and their compatibility with the Negotiable Quote.

3. Is Magento 2 Negotiable Quote mobile-friendly?

Magento 2 Negotiable Quote is designed to be mobile-friendly and responsive. Customers can request quotes and manage their quote requests from their mobile devices. It helps provide an uninterrupted experience across different screen sizes.

Summary

Magento 2 Negotiable Quote enables customers, especially in B2B transactions, to negotiate product prices with merchants. The article also uncovers several other points, including:

• Prerequisites of a Negotiable Quote in Magento 2 include having Magento 2.3.1+ and configuring the store properly.

• The benefits of a Negotiable Quote include flexible pricing and improved customer experience.

• The workflow consists of the customer requesting a quote, and the merchant then reviews and accepts it.

• Configuring a Negotiable Quote involves installing the Magento 2 extension and enabling it in admin panel configuration.

All set to improve the management of your B2B e-commerce store with Magento 2 Negotiable Quote? Choose a reliable and efficient managed Magento hosting solution for maximum benefits.