06 Mar How to get the best results from your tender search efforts
Time. It’s the subject pondered by many wise men and women through the ages. Some teach us to harness it, shape it and conquer it. We measure it – how many apps on our digital devices help us to track it? Most of us are agreed on one thing though – let’s not waste it.
Since you are reading this, you are either considering opportunities to tender for, or are actively pursuing them. You’ll know that spending time sifting through the hundreds of tender opportunities is a necessary, but often a daunting process. There is no question that tenders can be a very worthwhile investment of resources in your business, but only if you know where to look and what you are looking for.
Time wasted in diving in without a strategy can lead to distractions, while the main purpose is neglected. Investing your evaporating time in the most profitable outcomes would seem a ‘no-brainer’, but where should that time be invested? The answer lies in the search.
We have seen first-hand how many companies enthusiastically embark on the tender process, only to fizzle out because of the bewildering array of opportunities. Enter the ‘Tender Search’. This an activity whereby you scan and search the market for relevant opportunities which your business could submit a bid to.
You may be fortunate and have organisations contact you directly, inviting you to tender for relevant tenders – but chances are several lucrative open tenders may be passing you by and going to your competition if you aren’t aware of the opportunities out there.
There are several ‘search services’ operating that we know of, and we studied them all to know what works – and what doesn’t. We quickly discovered that most search services relied entirely on algorithms – key-words that clients supply – to narrow down search criteria. We felt that effective searches required more of the human touch, so we personally review each search selection based upon what we know about the business, doubling down on matching search results. After all, mediocrity will never do.
Our daily Tender Search Service is designed be affordable, accurate and a real time-saver for our clients. We measure our business by the results you get, so we are keen to set out some of our top tips for getting the best out of our service.
- Make initial enquiries to establish if your ideal clients buy through tendering. If they don’t, they will need a different approach, but don’t waste time positioning yourselves for tenders that will not come
- Research which portals and resources are most appropriate for your business. Look for industry specific resources for vertical market industries and disciplines, as well as private and public-sector markets of high value/low tender values. Bookmark and check these appropriate resources regularly.
- Set out clear criteria for what an ideal opportunity looks like for you. Clarify what type of work, contract size, location, and type of client would be ideal. Use these to help you scan and select opportunities to review in more detail. This is important, because failure to do so will result in you being pulled in different directions chasing tender opportunities that you will not win
- Register for and access the full documents once you have found an opportunity you think might be worth pursuing. This is where a diligent review and understanding of the needs of the client comes in, where you determine how well it fits what you offer and what the client requires
- Congratulations – you can now proceed with creating a professional bid response, which requires another disciplined strategy to guarantee that your company is seen in the best light. Look at some of our other blogs on how to manage this process effectively and how best to involve all the right people to submit your best ever tender! But if you are ready to get straight to it, call Katy on 01908 382414 to subscribe to the Tender Search Service now.