Beyond the bid: 5 ways to identify real opportunities
What you should be looking for when completing a bid!
We’ve all been there. A bid comes through and you’re immediately excited by the prospect. But sometimes it’s hard to identify if an RFP is actually an open opportunity or just a due diligence exercise.
Most large public and private sector organisations have to go out to market every 2-5 years as part of their procurement process. The reality is that a majority of these organisations are not looking to change what they already have in place. This then becomes a tick box exercise to demonstrate that some due diligence has taken place and that they’re following the correct procurement process, without actually ever having to change suppliers.
Don’t worry, Avnio can help you save time by separating the players from the time-wasters.
Check out our 5 ways to identify real opportunities from bid expert and Customer Success Manager, Melissa Peel. Melissa has identified the key points you can use to establish if it’s a real opportunity or not.
1. Seeing double
Watch out for the same document but with no substance. It is important to note that if there is no/limited change in the document and content since the last bid (which could have been from a number of years ago), then it’s likely there has been no change in the process or decision-maker who would ultimately drive a decision to look out to market.
2. Ticking the box
A good RFP should challenge your product and/or services, so watch out for a lack of probing questions. Basic questions indicate a tick box exercise rather than questions that indicate a desire to drive change.
3. The cold shoulder
If you notice a lack of interaction or engagement from the issuer or decision-makers, this would signal that they are not serious about looking at the market and initiating change.
4. Price, price price
If an RFP is heavy on pricing and not on functionality or improvements, then it can be a good indicator for this being a comparison exercise. Bids should focus on how you can add value outside of pricing.
5. A pain in the bid
If there is no elaboration on why these guys are going out to market, no real pains or inefficiencies, then it’s a sign to reconsider responding. If they can’t demonstrate any reasoning for going out to market then you cant demonstrate value and any ROI in your offering.
And there you have it, 5 quick tips on how to spot the RFPs that are worth spending time on. We’ve got this stuff down to a fine art. That’s why we built Avnio’s integrated Bid/No Bid qualification process to help you win more of the right business and identify worthwhile opportunities using a scoring system weighted and created by your own unique criteria.
Save on valuable resource and determine the opportunities that are likely to be a WIN!
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