Many businesses spend lots of time and effort drafting proposals to win more RFPs, but their effort is not always reflected in their win rates.
There are many reasons to explain low win rates, but here’s what’s clear: the businesses that win more RFPs more consistently always do five things well. They have…
- A good pre-RFP sales effort
- An effective bid/no-bid decision process
- An effective and compliant solution
- Good messaging
- Compelling proposal content
Let’s explore.
1. You Need a good pre-RFP sales effort
One of the most important rules that sellers must understand is that salespeople have to “make the sale,” whether or not an RFP is involved. When I say, “make the sale,” what I mean is salespeople have to go meet with buyers, get to know them, build credibility with them and, in general, establish themselves as a viable solution and vendor so they are well-positioned when the buyer is reviewing proposals and getting ready to make a purchase decision.
An RFP does not replace the salesperson or the sales process.
An RFP is just one discrete part of the larger buyer/selling process. The RFP you get and the proposal you write are together like the final sprint at the end of the 26-mile marathon. You have to run that final sprint, but you still have to run the marathon, first.
If you want to win more RFPs, you have to run the marathon, you have to “make the sale” in the 12-24 months before an RFP is published.
2. You need to stop chasing opportunities you can't win
Too many sellers receive an RFP and say, “Oh, look, an RFP. Let’s respond!”
Don’t do that. Instead, commit yourself and your team to a formal, structured, and disciplined bid/no-bid decision making process.
By committing your team to a methodical bid/no-bid decision process, you are replacing knee-jerk reactions with disciplined decision making. By focusing your efforts on only those opportunities you are well qualified for, you will increase your win rate while minimizing both your workload and wasted resources.
3. You need a compliant and customer-focused solution
Effective sellers aren’t just selling products or services, and they don’t treat an RFP like it’s a simple questionnaire, plugging in answers from previous proposals they’ve written.
Effective sellers create a unique solution for each opportunity. They use their products and services—and staff and resources and industry knowledge—to configure solutions that give buyers the outcomes they want.
4. You need good messaging
Effective sellers understand that a compelling proposal begins with compelling messaging.
You may be selling the exact same office copier to two different companies, but the first buyer is interested in ease of use whereas the second buyer is interested in low cost of ownership. It’s the same copier, but they’re each buying for different reasons.
If you want to win more RFPs, your messaging has to change as their reasons for buying change.
5. You need compelling proposal content
Effective sellers understand they need to write compelling proposals. Making a proposal compelling requires two essential things.
First, your proposal has to effectively communicate that the solution you are proposing is compliant with their needs. They have to understand it’s giving them what they want. This is largely a function of messaging we discussed in the previous section.
Second, it has to clearly differentiate your solution from all of the competing proposal alternatives they may be considering. Procurements are competitive, and many of your competitors offer good, high quality products and services. You have to demonstrate how yours is better.
Bottom line
If you want to win more RFPs—consistently—you need to have a good pre-RFP sales effort, an effective bid/no-bid strategy, a good solution, good messaging, and compelling proposals. Do these five things and your win rates will improve.
Learn more
If you want to explore ways to improve your RFP win rate, here are two options.
- Read the book. The RFP Selling Process offers insights into the selling process surrounding formal procurements and RFPs. Click here to learn more.
- Consulting services. Contact Dave Seibert at The Seibert Group to begin a discussion about your RFP selling process. Depending on your needs, we can explore onsite discovery, various training options, writing or training workshops, and more. Click here to learn more.