Pitching for business – 7 steps to winning new business
Posted on 29th November 2011 in News
Winning professional service firm tenders – what are the key points?
Professional service firm tenders are difficult at the best of times. Your tender process has to be good but that does not necessarily mean you will win. It just puts you in a position to go on and win. In a difficult economic environment, what should firms do to increase their hit rate on tenders? Here are a few key points:
1. Relationships. These are vital. The firms with the strongest relationships with the decision makers will have the edge. Relationships need to be strengthened before the tender starts.
2. Empathy. Putting yourself in the shoes of your client will enable you to tailor what you offer to what they need.
3. Differentiation. How are you different from your competitors? What does that mean to your client? What are the benefits?
4. Scope. If you are unsure about the scope of the work, don’t guess. If you do, you’re in danger of delivering the Rolls Royce when the client wants the Mini. Ask your client!
5. Legacy. The old saying…benefits not features ….. is more valid than ever. But it is also about legacy – what is your client left with after you finish your work?
6. Commitment. How will you demonstrate that you will go the extra mile for your client? If they believe that you are as committed as they are to succeed, then they will want you on their side.
7. Pricing. You need to demonstrate why your fee is value for money.
The firms that address all the above aspects will emerge from the pack and take market share from their competitors.