Business inquiries are the questions regarding a business that might be asked by a potential customer or other B2B clients. A very common example of a customer’s business inquiries is asking for more information about a product or service that they might be planning on buying. For B2B, business inquiries are the first step of a business relationship.
The ideal purpose of a business inquiry is to develop an understanding of and design for the business organization. So when you send an email to ask for information it serves both the purpose. The understanding of the business means how it works; how it competes and behaves; its sources of advantage, the potential for advantage, problems, and opportunities. So a business inquiry is iterating towards an understanding.
Jump To A Section
- 1 Types Of Business Inquiries
- 2 The Difference Between A Business Inquire And Lead
- 3 What Is A Business Inquiry Letter?
- 4 Seven Basic Parts Of A Business Inquiry Letter
- 5 Sample Of Business Letter
Types Of Business Inquiries
There are three types of business inquiries. They are:
1. Unsolicited Inquiry: Generally, this type of inquiry is asked by a potential customer who is interested in the best bargain. The customer asks the questions by his own initiative and convenience. He reaches for businesses that sell the kind of product he requires or provide the kind of service he needs. The main purpose of this type of inquiry is to collect information on price/costs, quality, availability, and other terms of sale.
2. A solicited Inquiry: This type of inquiry comes from the response of an advertisement/sales letter of a seller. In this type of situation, the customer already has information about the product or service. So he requires further details to make a final decision. Normally, this type of inquiry is about particular areas of a sale or service.
3. Inquiries Asking For A Favor: This type of inquiry is asked by clients who look for information with or without a commercial proposition. The customer might be looking for information that he will use in the future or for some research. Usually, this type of inquiry comes from market researchers.
The Difference Between A Business Inquire And Lead
There are significant differences between a business inquiry and a lead. A business inquiry means a customer is interested in the service or product. This type of client is also called “raw responders.” Sometimes the inquiry might not relate to your service or product. So you have to analyze the inquiry and see if the inquiry is significant and whether or not they are worth the chase. On the other hand, a lead is a qualified business prospect. So the only way to make sure whether a business inquiry is a lead is to ask them. You can ask them via phone and find out if they have the budget, authority, need, and a specific timeframe to buy the product or service. If an inquiry meets the direct qualifications then we can determine if there is a real business opportunity.
What Is A Business Inquiry Letter?
A business inquiry letter is a type of business letter written for communication between a potential customer and a business or between two people from different organizations to ask for information about specific jobs, products, or services. Usually, this type of letter is written in response to advertisements that a customer may have seen on television or the Internet. Here are some characteristics of a business inquiry letter:
1. Asking for any kind of information
2. Start with directly and politely
3. Be more confidentiality
4. Provide an explanation for information
5. Write language carefully
6. Specific purpose
7. Supported by replying letter
8. Asking for information within a specific time
9. Proper format on structure
10. Formal language
11. Mention proper causes
12. Close cordially
Seven Basic Parts Of A Business Inquiry Letter
According to the experts, a business inquiry letter has 7 basic parts. They are:
Sender’s address: It will contain the address of your business or you so that the recipient doesn’t have to look up your address in order to send a response. Here is an example –
1. Ms. Jane Doe
2. 543 Washington St
3. Marquette, MI 49855
Date: The letter must have a date so that the receiver understands when the letter was written. The best practice is to use the standard U.S. format. For example November 20, 2020.
Recipient’s Address: Including the recipient’s address means you have the information readily available for printing out the envelope. Moreover, a full address also ensures the letter doesn’t get lost in the office shuffle wherever you are sending it. The first line should be the name, the second line is the recipient’s job title, the third line is the company’s name, and below that would be the street address, city, state, and ZIP code.
Salutation: In a business letter “The salutation” is always formal. You can use “To whom it may concern” or “Dear Sir or Madam” as the salutation. Make sure you include the name of the recipient with the proper title.
Body: Time is money in the business world so make sure you get down to the business and convey your message or query as briefly as possible. Try to maintain a professional tone and quickly convey the point of the letter.
Closing/Signature: You can use a more formal closing such as “Sincerely” or “Thank you.” Make sure you skip at least four lines after the close for your signature. You can also use the personal stamp of approval of the letter’s contents.
Enclosures: If there are any additional items or documents you want to enclose then it is best to list the items so that the recipient remembers what was included with the letter.
Sample Of Business Letter
A Hard-Copy Business Letter Example
|Your NameYour Street AddressCity, ST Zip|
Business NameBusiness AddressCity, ST ZipSeptember 12, 20XXTo Whom It May Concern: With reference to your advertisement in yesterday’s New York Times, could you please send me a copy of your latest catalog? Is it also available online?I look forward to hearing from you. Yours faithfully,(Signature)Your NameYour Job TitleYour Company Name
Email Format Of Business Inquire Letter
|To: [email protected]: [email protected]: Business Inquiry LetterDear _________ (name of the receiver),We would like to buy a lot of ___ (product). We would like to see your company catalog which has details of all the products that you manufacture. We will go through it and see if any products meet our requirements. We have a huge requirement, and we hope that you will be able to meet our demands. We are in search of ____ (your requirement). We would also like to know if you make a custom-made product as per the requirement within a stipulated time. In case we like your designs and products we would like to place an order, and we would work out the pricing in person. We could send one of our representatives from our end to oversee the products and finalize the price. We shall discuss the further matter after you send the catalog. In case of any queries, feel free to contact me.Yours sincerely,____________(Name)|
Sample Of “Business Inquiry Letter Body” For A Product
|I came to know from some trusted sources of your possession of some high quality [product name] and would very much like to learn more about it. I would appreciate it if you can send any information that could help me in my selection process. Please elaborate on the various options along with the different prices, discounts, and availability. I also need to know if you offer an extended warranty. Please call me if you have any questions or need to know more about our requirements. Looking forward to hearing from you.|
Sample Of “Business Inquiry Letter Body” For A Service
|My name is [X] and I’m the [production manager] at [company name]. I came across your organization while searching for companies that provide [service type or name]. We are in the process of [extending our infrastructure, improving our services, etc…] and would like to explore possible cooperation with you. [Explain in detail your requirements and what you expect from them]. I appreciate it if you could share with me your past experience in similar projects and explain how you can possibly help us in achieving this goal. Please contact me if you have further questions. Looking forward to doing business together.|
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.