A buyer sends an RFQ to five suppliers. Who wins? Usually not the cheapest — the fastest complete response. Here's what the data shows and how to fix your response system.
The Numbers
Across B2B platforms, RFQs answered within 4 hours convert 3-4× better than those answered after 48 hours. After 72 hours, conversion drops near zero — the buyer has already shortlisted.
Why Speed Signals Quality
To a buyer who's never met you, response time is a proxy for: how you'll handle production deadlines, how you'll communicate during problems, and whether you actually want the business.
The 24-Hour System
1. **Notifications on** — RFQ alerts to email and phone 2. **First response within hours** — even "We received your request, full quotation within 24h" beats silence 3. **Quotation templates ready** — 80% of a quote is reusable; only prices and quantities change 4. **Assign an owner** — one named person responsible for every inquiry 5. **Follow up twice** — day 3 and day 7. Half of "lost" deals were just buried inboxes.
Complete Beats Fast-but-Empty
A fast response missing MOQ, lead time, or Incoterm forces another round-trip and kills your speed advantage. Answer everything asked, plus payment terms and validity.
Automate the Routine
Use the platform's AI assistant to draft first responses and quotations from your product data — you review and send. Speed without hiring.