23 Jan How To Boost Your Success Rate In Bids
Successful bids result in greater growth and revenue for your business, which is why having a high bid success rate is so valuable.
Below, we have identified some of the most powerful ways to maximise your chances of making a successful bid. These tips will help to ensure that the time, energy, and resources you invest in your bids have the best possible chance to produce tangible results.
Identify Previous Strengths And Weaknesses
When optimising your bid writing process, begin by assessing previous successful and unsuccessful bids. Aim to identify any patterns or similarities, then replicate in future bids the common factors from successful examples, while minimising the consistent aspects from unsuccessful ones.
Pay attention, for example, to the lengths of unsuccessful bids. Have you included in them only the most pertinent information, or tended to add more detail than is necessary? And are your answers clear and concise, or are they too thin with not enough detail?
Objectively assessing your own bids is not an easy task, which is why it can be helpful to seek the guidance of an industry professional. That way, you can achieve a clear and unbiased overview of your strengths and weaknesses going forward.
Select The Right Opportunities
A significant factor in optimising successful bids is choosing the right opportunities to bid on. For example, it is essential to confirm that you are fully qualified and certified for each contract that you apply for. Bidding on an opportunity that you are not eligible for on the off chance that you’ll be considered will almost certainly be a surefire way to waste time and resources.
Also, consider whether your business is truly tailor-made to each opportunity you bid on, or whether you are applying to some that you are not really suitable for.
Hire A Professional
Hiring a bid writing professional is one of the most effective ways to boost your bid writing success.
Bid writing professionals can ensure that your bid is clear, concise, and persuasive. They can also assist in meeting deadlines and in ensuring your bids contain all the necessary facts and details. Their role extends across the entire bid writing process — from seeking the best opportunities, preparing the relevant materials, and optimising them for success!
Less Is More
Applications that are clear, concise, and tailor-made to the tender have a much higher chance of being successful.
When writing a bid, it can be tempting to include every last detail about your business in the hope that the reader will see something that resonates strongly with them.
However, readers can often be short on time and will likely have other demands on their attention. This can mean that the most important information about your business gets overlooked, and you are turned down for the opportunity as a result. Do not take this risk.
Once you have identified a selection of suitable opportunities, take the time to carefully read through their briefs from start to finish. Plan what to include in each section so that you are including relevant, persuasive information without repeating yourself.
In particular, be sure to put any key information in the section that it is best suited to – do not waste your strongest selling points by putting them in places where they will have little impact.
Know Your Audience
When competition for an opportunity is tough, it is likely that many of those applying for the contract will be very experienced and highly qualified. In these cases, it is details and nuance that will make the difference between being successful or being overlooked.
When working on the details of your application, it is vital to know your audience. This means dedicating time to researching the organisation that is offering the opportunity. Your research may uncover important information about the company itself — especially its values and priorities. This is important when knowing what information about your services you should emphasise in your bid.
For example, if the company offering the work has a strong emphasis on environmental awareness, perhaps it would be helpful to add details regarding the ways in which your business practices are environmentally sustainable.
Aligning with the values of the organisation offering the opportunity — when done sincerely, and with principles you genuinely share — is a great way to stand out, connect, and win more work!