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Insights with Construct

April 19, 2018

Overview
During the research phase of Construct, we quickly learned that almost every person and business we talked to, kept very little data on their proposals. It became evident that most only started collecting data once a project commenced or when the first invoice was sent. We believe there is a lot of value in this data, as it can provide insight into how clients interact with your proposals, how long they spend reading and when they are most likely to approve.

Here we take a look at the analytics and insights that come with every Construct account.Before we get started, it’s important to understand how the status of your proposal impacts your data.

Draft
A proposal will remain in draft status until it is sent for the first time. All draft proposals are excluded from your analytics.

Pending
A proposal that has been sent, but the recipient has not yet declined or approved. This is considered an ‘active’ proposal.

Approved
Approved status is when your recipient has approved your proposal. Good times!

Declined
Declined status is when your recipient has declined your proposal.

Archived
An archived proposal is one you wish to keep but will be excluded from all analytics. Only a Pending, Approved or Declined proposal can be archived.

02 Construct Insights Proposal Framework

Insights
Once you have sent your proposal, it’s status will change to ‘Pending’ and you will have access to a number of insights. This data can be accessed by navigating to the ‘Proposals’ section of your account, clicking the ‘Pending’ tab and selecting the individual proposal you wish to view. These insights include:

Amount Pending
This is the proposal total that includes tax, but excludes any optional fees.

Time in Review
Once the recipient has opened your proposal, this is how long they have spent with the proposal active on their screen.

Activity
This section provides a lifetime overview of your proposal. It includes when your proposal was first created, sent, and if it has been updated. It also include who modified the proposal, which is perfect for keeping track of revisions.

Sections Viewed
This section provides insight into how your recipient engages with your proposal. It shows how much time they spend on each section and the percentage of the total time spent. This can be particularly useful for refining future proposal’s structure and learning how to better structure your proposals and prioritize your content.

Response Time

This is the time between your recipient first opening your proposal and when they respond. A response is when the recipient either approves or declines you proposal.

03 Construct Insights Proposal Analytics

Analytics
Under the Analytics section of your account, you will find more in-depth data about your proposals and contacts. All data is organized either by status or by contact.

Number of Proposals
The number of proposals is the total number within the selected status (ie. Pending, Approved or Declined). This data can be viewed by lifetime and filtered by year, month or week.

Value
The value shows the total value of your proposals within the selected status. This data can be viewed by lifetime and filtered by year, month or week.

Response Rate
Response rate provides a lifetime percentage of your approved and declined proposals, essentially providing you with a ‘success rate’.

Response Time
Response time provides an average response time across all proposals within the selected status.

Contacts
Proposal data can also be browsed by individual contact. Here you will be able to see the number of Approved, Declined and Pending proposals each contact has. This data can also be viewed by lifetime or filtered by year, month or week. Viewing your analytics by contact can be especially useful for understand your clients individual behaviors with a a proposal.

Conclusion

Our aim is to provide the data you need, in the most accessible and easy to interprut way possible. What you do with this data is entirely to you, but our hope is that it will provide a greater understanding of your client and their interactions with your propoals. Be sure to keep an eye out for future articles about best practices when writing and creating proposals.

That’s it! All analytics and insights are included in every account with Construct and don’t require any setup or configuration. All you need to do is start sending proposals. If you would like to kept up-to-date with our latest developments, be sure to follow us at: @withconstruct

Thanks for reading!

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