In the live events world, when a meeting planner or production partner is looking to engage an AV team for their event, they often issue an RFP (request for proposal) or ask for a quote following an initial meeting where their AV needs are shared.
These requests for pricing are usually shared with several AV teams so that the planner can decide what team will best fit their needs.
Traditionally, most AV suppliers respond to an RFP with a quote – but some, our team included, believe that proposals, not quotes, are far more beneficial in helping a meeting planner determine what AV partner will be the best fit for their event.
Keep reading to learn why.
What is a Quote?
Whether you call it a quote or an estimate, it’s exactly what it sounds like: a list of the equipment, gear, and services required to execute an event as outlined in the RFP or during initial conversations. Quotes are entirely cost-focused. There are typically no details provided outside of the list of what gear is being provided to a client, the price associated, and any relevant discounts.
Quotes may also include some information on payment terms, inclusions, and exclusions, and any other standard operating procedures for the AV team.
Because the information is fairly straightforward and most AV teams have well established costs for both equipment and labor, quotes are very quick to put together and are the standard response to an RFP.
What is a Proposal?
Imagine you’re looking to buy a plain black t-shirt. You see three different ones. The pricing on all of them are incredibly similar. Do you just buy the cheapest one? Or do you start taking other factors (the feel of the fabric, customer reviews, the way it fits you, how well you expect it to hold up over time, etc.) into consideration?
A quote tells you how much something costs, but doesn’t tell you the quality of what you’re getting. A proposal still includes a quote (it wouldn’t be very helpful if it didn’t), but it’s only part of the information that is shared.
A proposal is a comprehensive document that paints the full picture of what it will be like to work with an AV team. In it, the team shares what really sets them apart from other companies: their strategy, approach, expertise, experience, and processes.
While reviewing the detailed scope of work, you’ll find creative ideas for approaching the event, venue specific ideas, a project timeline with deliverables at set milestones along the way, examples of past work, testimonials, and more.
The cost of working with the AV team is, of course, a large focus of the proposal. After all, it is a huge factor in your decision. However, the proposal also shares why working with this AV team is the right move for your event. It shows how well the AV team understands your wants and needs, gives examples of their creative thinking, and allows you to get an idea of what your experience will be like if you do choose to work with them.
Why are Proposals Important?
When you’re getting several quotes from different AV providers, assuming all equipment order and labor indicated are the same, what you’re really comparing is cost and nothing else. You get very little (if any) information about whether or not this is a good partner for your event or a good match for your team. A proposal shares information that helps you make that call.
That being said, not every event necessarily requires a full proposal, and there are certainly situations where a quote will suffice.
Small events with very straightforward asks, especially ones that mirror previous events or will take place in small spaces with significant limitations, may only really need a quote. A quote will also likely suffice in the event of very quick turn events where teams need to move quickly to put a last-minute event into action.
We also may provide a quote without a proposal when we’re working with a customer we have an established relationship with on an event we’ve regularly worked on before where there is no competitive bid process and the team is just looking to get an idea of the costs associated with their event this year.
We’re in the minority on this, but for everything else, we create a proposal. Why? We understand that every AV provider in the NY area and throughout the country has AV equipment (and many of them have the same AV equipment that we have!) Which is how we know that our gear in and of itself doesn’t set us apart. Our team sets us apart. Our approach sets us apart. Our process sets us apart. A proposal allows prospective customers to understand all of that.
What’s in Our Proposals?
It’s different for every customer and event, but our proposals typically include:
- A cover letter
- Information about our core values
- Featured clients
- Our process and what you can expect when working with us
- A detailed breakdown of your event, included schedules, set-up, and approach
- The quote, terms & conditions
A quote may seem like enough information when choosing an AV partner, and while it can be tempting to pick the group with the best pricing, you’re not learning anything about who you’re working with or what your experience will be. The power of a proposal is that it dives deeper, exploring price, quality, and how well your teams will work together.