16 Jan How do you decide to go for a bid or not?
Bid writing is a time consuming task so you need to be sure you’re not wasting your time in completing the wrong bids. Taking the time to review the documents and criteria when you get them and ensuring the bid is one you could win and also want to win is vital to prevent wasting time and increase your win rate.
We have put together a scorecard system to use as a way of calculating if a bid is worth pursuing or not.
Do you have the right Product Fit? Score up to 25 points
- Check the core requirements and you’re offering against it.
- Can you meet or offer the mandatory features and requirements? – if not this is probably not a bid for you.
For a perfect score you need to know your solution can meet all mandatory requirements, as well as the terms in the contract.
Existing Customer Relationship – Score up to 25 points
- Do you have a relationship with the customer or do you know if a competitor has a strong relationship with the customer?
- For existing contracts has the customer been buying solely from one competitor for years and shows no sign of wanting to change prior to this tender release, chances are they will favour their preferred supplier’s response.
For a perfect score here you will need an existing good relationship with the client or at least intelligence on the Client to support your bid.
Availability to respond – Score up to 25 points
- How much time can you commit to this response?
- Who do you need input from and are they available, i.e. not on holiday or tied up in another project before the deadline
- Consider outsourcing the writing and reviewing to expert bid writers to improve your score here if you can’t do so in-house.
For a perfect score you will need to have the time and the resources to respond.
Value add and other positives – Score up to 25 points
- Is there a chance to add value to this bid?
- Are they looking for a local supplier?
- Can you offer additional services expressed in the bid?
For a perfect score, you need to know you can offer a great overall value proposition with 2-3 key points that will make you stand out from the crowd, e.g. if they are interested in companies that ‘give back’ and you have an exceptional company social responsibility program, or you can add a range of free beneficial ‘add-ons’ to your proposal.
Your total score out of 100 is your percentage chance of winning the bid. Each company will have their own cut off level for when to take the no bid decision. In industries with a large number of bids released consistently through the year a higher cut off of around 70-75% can be established as there is so much choice on what to go for. For those in niche markets, a 50% chance might still be worth considering.
Struggling to know where to start with your bid and the qualification process? Bid & Tender Support can help review client documents and compose a crib sheet of key points you need to be aware of to qualify your opportunity. We can also provide the support required to write and review your bid to meet the requirements to increase further your chance of winning. Please contact us on 01908 382414 or email [email protected]