Welcome to the first part of our series on pitching for new business. This month we focus on winning tenders.
Professional service firm tenders are difficult at the best of times. What should firms do to increase their hit rate on tenders?
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. Here are a few important points to consider:
- Relationships 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.
- Put yourself in the shoes of your client. This will help you tailor what you offer to what they need.
- Differentiation. How are you different to your competitors? What does that mean to your client? What are the benefits?
- If you are unsure about the scope of the work, you should not guess. If you guess, you are in danger of delivering the Rolls Royce when the client wanted the Mini. Ask your client!
- 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?
- 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.
- You need to demonstrate why your fee is value for money.
Stay tuned for our next blog on pitch presentations.