Founded in April 2016 by Kevin Ng, Tan Junming, and Emil Ng, ThunderQuote is a B2B marketplace-platform generated to connect business services buyers to vendors. ThunderQuote act as a middle-person to help businesses get free quotations and saving them the hassle of looking for vendors. However that is not the only way ThunderQuote helps with your business. Aside from linking up vendors to prospective clients, there are a few other things about ThunderQuote that you might not know could help you solve the biggest problems in your company.
Helps buyers save time.
From a buyer’s perspective, the most time is spent on finding the right vendor, comparing prices and getting quotations. Even when they find one, there might be vendors out there that is better that is unkown to the buyer. This is where ThunderQuote aids the most.
Vendors can simply request for a quotation using the website or use ThunderQuote Sourcing Tool to help find sources. The website is so easy to use, all you have to do is type in what kind of start-up your company is and what kind of set-up you need and ThunderQuote will handle the rest. On average, you can expect to receive a quotation (or quotations) within 72 hours of submitting your request.
On the other hand, if you are looking to outsource, ThunderQuote also offers a free e-guide about good outsourcing techniques.
Not only will you be able to request for quotations, you can also follow-up and choose your vendors.
ThunderQuote’s main purpose is to lower costs and speed up the procurement process by accumulating demand in a single platform where all vendors can approach them together. “So 5 vendors will quote each business buyer, and if the buyer wants more quotes for whatever reason, he can just click one button and get 5 more quotes, and 5 more, until he’s happy,” Kevin Ng, CEO of Thunderquote says.
Help Vendors find customers
In this case ThunderQuote acts like Online Shopping for companies. The only difference is Thunderquote offers selection of leads for vendors to bid on.
Once vendors have set-up their profile, the portal will automatically alert vendors if a relevant lead comes through the portal.
ThunderQuote also offers advices on how vendors can win on bids.
Sign-up is free for vendors however there will be charges on admin fee and commission according to the budget of the project in order for vendors to bid for leads.
Helps vendors save money
Here is how: Early Birds who sign up gets $10 free credits (for vendors)
Vendors also get free points when they refer friends to the website.
On top of that, bids starts as low as $1.
Here is a guide of the admin fee charged by ThunderQuote based on projects:
|Range in $||Admin Fee in $||Commission (%)|
|$1,000 – $4,999||$10.00||5.0%|
|$5,000 – $9,999||$20.00||5.0%|
|$10,000 – $24,999||$30.00||2.5%|
|$25,000 – $100,000||$60.00||2.5%|
According to ThunderQuote CEO, “B2B marketing and lead generation costs account for over 8.6-10% of revenue, which is over $445 million in Singapore alone. With ThunderQuote, vendors share the costs of the lead, which drops the cost per sale to as low as 3-5% depending on their conversion rate, a 50% or more savings on marketing costs.”
Every business swears by that but ThunderQuote actually means it. They personally filter all the leads to ensure businesses get quality leads and all the details are available before you decide to purchase the leads
Their lead quality scoring system ensures that a company only pays what is appropriate based on the value and quality of the lead.
Afraid that your leads aren’t real buyers? Worry not. ThunderQuote personally call clients to except more details to ensure that leads are qualified. In addition to that, companies need to submit their UEN to ensure they are valid.
Lastly, ThunderQuote have a strict refund policy in the unlikely case a lead is shown to be invalid.
CEO Kevin Ng stated that every company and brand attached to ThunderQuote, both big and small, have been able to use the platform successfully to find the quotations they need hassle-free. “We even have other platforms like StudentLancer getting business through us, which was quite a pleasant surprise to us,” he said.
One stop portal for business contents
Looking for the latest website trend? They got it. Looking for a way to increase your productivity? They got it as well.
Not only does ThunderQuote help buyers and vendors get together, they also provide high-end quality content to all your business needs – and they are constantly updated.
So you don’t necessarily need to look for buyers or vendors before visiting ThunderQuote, you can use it to improve your business in other areas.
ThunderQuote blog articles are available at blog.thunderquote.com. At the moment ThunderQuote is focusing more on marketing, It businesses and web development but keep a look out – there might be more coming soon as ThunderQuote is also looking to spread their wings to Australian market.
ThunderQuote is the most comprehensive business services portal in Singapore, Australia and ASEAN , where hundreds of thousands of dollars of procurement contracts are sourced every month by major companies like Singapore Press Holdings, National Trade Union Congress and more.