Benefits of an RFP Response
There’s so many people who in fact prefer getting new projects from referrals and not enduring hard work to responding on competitive RFP. If you ever succeed in business, you must consider including competitive RFP response on business development arsenal. When you have worked on the RFP response and proposal on the federal sector, there are some benefits that can be obtained from RFP responses for your business.
Smaller Competitive Wins will Lead to Future Expanded Work
An ultimate buyer in a client organization mostly abhors on the acquisition and purchasing process of the sellers. A buyer usually fears the bureaucratic procurement organization may end up on too much trade-off on quality and innovation which is in pursuit at the lowest price. This is actually the reason why buyers usually prefer contracts with opportunities on follow-on work, built-in options and on price ceilings which leaves room for growth. Clients also knows that after establishing mutually beneficial relationships with vendors, the contract changes are easier compared to enduring competitive solicitations.
Force you to be Prepared
The competitive RFP in fact produces both winners and losers. Also, there’s a risk that your competitors will be using shortcuts and also price slashing for capturing the business. But such risks also applies to the other client opportunities outside the competitive RFP process. Though winning the work is its main goal, losing to competitors may also add value.
A lot of people actually accepts on the belief that competition would force the seller in becoming more efficient and to also move up in the value chain.
Tailors your Message
The RFP response actually requires careful tailoring on the company message for the specifics with the RFP. This actually is a customized marketing message versus mass broadcast marketing message. Crafting mission and values to coherent and persuasive argument which demonstrates on specific value on the requirements of the client is the thing that separates the winners from the losers. As the message becomes a lot more refined and potent, with repeated RFP response to various opportunities, the message will be recycled back towards the rest of the company’s broader marketing materials.
There is actually a chance that you may not be able to win the contract by taking a shot on the RFP response. You should take note though that not all RFP which hits comes with an entrenched incumbent or company with wired track in order to win. There are in fact some opportunities that are in fact up for grabs, but you actually don’t know if you could win the contract unless you are going to respond with the RFP.