6 Tips to winning bids

You can watch our video on YouTube.https://youtu.be/rJ5huCjWWLg “Winning isn’t everything, it’s the only thing” (Vince Lombardi, American Football Player). Bid management is an art, which can convince a company about the vendor’s capabilities and can also build confidence. It requires a good strategy and careful planning, because when you can master bid management, you can win bids!Winning a bid (or tender) is not merely affected by the documents drafted or proposal writing according to RFP (Request for proposal) by clients but also strategies that add to the probability of winning.Following are some of the tips from our experience that will help you increase your win rate - Concentrate on your customers’ needs: The key to success is providing what your customer wants, not what you have to offer. Create a proposal that answers their need. The more focused you can be on the requirements, and break them into managerial solutions, the more chances of winning. Customize and personalize: Every customer is unique and requirement specific. Vendors should design and draft proposals unique to these requirements. Standardized proposals or general vast proposals, though easy to submit, will not get desired results. Our BidBox - Proposal Managementteam of experts can help you in drafting the proposals as per customer requirements. Define the solution: For every problem, there is a solution. But what makes you stand out of the crowd is that you show the benefits of your solution to the customer. Defining the solution in detail will help the customer to understand your proposal much better. Be different: “You can’t win, if you can’t differentiate”, differentiating is what makes you unique from your competitors. So, know your competitors, explore your competition, try to gauge their differentiating factors and then create solutions that are unique to your client. Focus on the budget: A client will always be interested in the cost that will be incurred by him on the project. As a vendor, one should be able to estimate the client’s budget and what are his expectations. The project timelines can adversely affect its cost so the same is needed to be planned in a manner that there are little discrepancies at the implementation stage. Your bidding/ tender documents should mostly emphasis on the same. Develop standards for proposal: Every proposal should meet the benchmarks / standards expected by the client. Develop guidelines for making sure the proposals meet these standards, every time. Points such as reasoning and objectives, consistency of language, copyright checks, industry / domain specific keywords and so on. For Bid / Offer / Proposal / Tender Management and Consulting to increase your Win Rate, please get in touchwith our experts!