13 Mar Improving win rates in Six Simple Steps
Asking the right kinds of questions can be more important than receiving the answers – where the solutions for a set of challenges often lies in the understanding of the situation. Here, we get straight to the point by encouraging you to ask the ‘what, who, where and how’ of your market and what you are selling. Now, let’s push those win rates up.
Step 1: The What – Define exactly what you are selling
* Is yours a product or service – or both?
* Does it have different levels of service?
* Describe what these services are
* Differentiate between ‘features’ and ‘benefits’. What are the offering’s benefits – do they vary for different clients?
* What does the product or service include within the cost model?
Step 2: The Who? – Understanding and defining your market
* Who are you selling to now? What sectors or groupings are emerging?
* Out of all your customers, which ones are the most profitable? Ask yourself why?
* Who do you want to sell to? Think about who you are currently selling to and contrast these with your ideal clients. Are they the same or different?
* What sectors of business have demonstrated a need for your product or service, and what will they be prepared to pay now and in the future?
* Who will benefit from your product or service the most?
* Who is your ideal customer? Consider creating written customer ‘avatars’ – fictional characters that represent your ideal prospects. These will help you understand the motivating beliefs, fears and secret desires that influence your customer’s buying decisions
Step 3: The Where
* Where are these businesses and communities?
* Where do those ideal customers source and procure their needs from?
* Where will they see your products or services, and how will they find you?
* Where is your product or service currently placed – where will you find your clients?
* Where does it need to be placed? What are the routes to access?
* Are there any geographic restrictions on your offerings?
* Do you need to be online or face-to-face – or both?
Step 4: The How
* How are you currently selling your products or services?
* How are you going to sell them in the future, what trends are emerging that will impact your model?
* How will you position your brand and offerings to set them apart from your competition?
* How will you introduce yourselves and your offerings?
* How do you communicate the benefits and features of your offerings?
* How will you convert enquiries and leads to firm orders?
Step 5: The ‘So What’?
By now you are crystal clear on what you are selling, to whom, where and how. A compelling argument, we hope. But be sure to frame this for your customer’s benefit to avoid a ‘so what?’ response from prospects. Your clients need to be confident in you now and in the future to persuade them to buy, not just once but repeatedly. Now it’s time to add some substance, evidence, examples, case studies, statistics, proof, endorsements, facts, testimonials to your bid collateral. A time to PROVE IT!
Leave the customer with enough thoughtfully produced data to allow them to make an informed and confident decision in your ability to deliver on your promises.
Step 6: The WOW!
Go the extra mile – no, go two, maybe three. Offer added value, pleasant surprises, make customers feel special, be creative, innovative, think about continually improving. Don’t get left behind or stale, make sure you offer exceptional customer experiences.
Don’t aim for satisfied customers. Aim for delighted customers and you’ll be setting yourself up for repeat sales and a loyal client base.
Want to develop your bid library with the right marketing communications collateral? Talk to us. We have years of experience in getting the most out of your bid and tender efforts, and we offer a free one hour consultation to set you on the right path. Call Katy on 01908 382414 to set it up.