- By: Áine Byrne
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Bid smarter not harder, with bid marketing
When marketers think of bid marketing, they normally think of management and optimisation of bids for online advertising campaigns. We, however, have a slightly different take on it. For us, it means the process of optimising your RFI (Request For Information) and RFP (Request For Proposal) response.
I’m sure you know this next bit: When an organisation (a requestor) issues an RFP, they are seeking competitive bids or proposals from potential vendors or service providers. They set criteria that each company will need to respond to, showcasing their capabilities, timelines, and budgets. Bid marketing plays a crucial role in positioning your bid as the most attractive and compelling option for the requestor issuing the RFP. It involves effectively presenting your capabilities, expertise, and value proposition to stand out from your competitors.
It’s not just about sprucing up your PowerPoint so it looks good. Effective bid marketing should be included in all stages of the process, from the initial RFI, through to the RFP, and on to the client presentation. Creating a seamless transition from one to the other to ensure consistency of message, look and feel.
To help you elevate your RFP response we have highlighted below key areas to look at during the process.
Gaining a clear understanding of the RFP
This goes back to the basics of marketing. To market effectively you need to understand your offering (whether this is a product, service, or solution) and the landscape it is competing in. In bid marketing this means understanding:
- The business need
- The timeline for delivery
- The evaluation criteria
- And how your offering can help the client realise their aspirations.
Focusing on these four aspects will allow you to tailor your RFI response directly to the specific needs the requestor has set out.
Show collaboration and communication from the beginning
Foster open communication and collaboration with the requestor issuing the RFP. Seek clarification on any uncertainties, and participate in Q&A sessions.
Not only will this help to ensure you can clear up any uncertainties, but it will also help to create recognition of your participation within the process and more importantly demonstrate your willingness and eagerness to work closely with them throughout the process and beyond.
Once you have submitted your response, follow up with the requestor to see if they need any further information. Making sure they are aware you are contactable and ready to help will create an environment of honesty, transparency, and engagement. It will also show enthusiasm for the project ahead.
Clearly state your value proposition
Your value proposition should be embedded fully into all your offering’s marketing activity. It is an embodiment of you. That means it needs to be included in your bid.
Your value proposition will emphasise your strengths, competitive advantages, and the benefits of your offering. It will help you to show how your offering meets the needs of the requestor’s company and align it with the requirements of the RFP.
Developing a compelling proposal
Now that your value proposition is at the centre of your RFP response, this part will become a lot easier. By using it you will be able to develop a well-structured and persuasive proposal that effectively communicates your understanding of the request
If you have multiple team members contributing to the final piece, make sure you review the final piece, then review it again and if needed do it one final time. Chances are some sentences have been hacked to death, others put in, and the tone will vary. You will need to marry this together into a single voice that can easily be understood and digested.
Keep a single version of the truth
At all costs avoid contradictions in your RFP. Ensure that all statements made in one part of the RFP are consistent with those made in other parts. Nothing sows confusion better than contradicting statements, which will create confusion for the requestor and make your business appear inconsistent and unsure of itself.
Differentiating your offering from your competitors
Put your best foot forward. Showcase your expertise, track record, success stories (with use cases) and any unique features or innovations relevant to the RFP that will set you apart.
If applicable highlight your team’s qualifications and experience working on similar projects to help create a sense of security in your ability to deliver.
Make sure to review your external resources
Before you submit, check your website pages, blogs, vlogs, press releases and anything else that might be out in the public domain. You want to ensure these are up to date with the latest information on your offering. Additionally, as mentioned above, make sure nothing in your external-facing material contradicts what you are saying in your RFP.
Don’t forget the visual presentation
No matter what people say, looks do matter. You want to present your RFP in its equivalent of a new sharp suit. That means using your company’s branding, formatting and design elements to make your proposal visually appealing and easy to navigate.
Include relevant visuals, charts, and graphics to enhance understanding, engagement and really make it pop. And please make sure you have your design team produce these, don’t just take your solution diagrams and drop them in.
If you’re responding to an RFP that comes with a set template, you may not be able to implement a lot of this. But you can still ensure you produce one that still looks professional. Focus on the elements you can control even if this is just font type and size.
Finally, do we need to say keep to the scope?
In effect, this brings us all the way back to the beginning. It is critical that during the process of compiling your reply to the RFP, you adhere to the parameters of what needs to be provided and the timeline for submission.
If you can’t meet the deadline for the RFP, you may find yourself disqualified regardless of the quality and the time you’ve invested in it. The requestor may also be thinking if you can’t make the deadline for the RFP will you be able to make the project’s deadline? That is what I would be thinking!
Additionally, make sure you provide all the information you are asked for and don’t skip over questions. They are asked for a reason. If there is a limit on word count, try to stick to it as best as possible. It shows you are listening and are cooperative.
The key to bid marketing
RFPs are issued by companies looking for your offering. What bid marketing does is position your proposal in the best light and demonstrate why your bid is the most suitable choice for the organisation.
Bid marketing is not a quick job, it involves thorough preparation, thoughtful positioning, persuasive communication, and time and budgetary investment. By making the effort you will be able to elevate your proposition above the competition to put you in the best possible position to increase your chance of success.
The good news is we’re here to help. Here at adexe, we’ve worked on RFPs from both sides, using bid marketing to enhance the submission, as well as our colleagues in our business assurance division who work with the requestors to review, and score submitted RFPs. We know what makes a good submission.
Reach out and we will be happy to talk you through how we can bring in bid marketing to elevate your proposal.