What makes a good RFP?
Responding to a request for proposals (RFP) could be a long and painful process. Yet it has develop into a key a part of selling.
Every person responding to an RFP has an idea in their head of what the winning bid will seem like.
Will or not it’s me or another person who wins this deal? What provides the best response? Is this a font?
(Hint: This is not a font)
I’ve seen a whole lot of proposals over the years. And while there is no exact science, there are some repeatable strategies that can increase your possibilities of winning.
Here are the 5 best RFP techniques:
1. Don’t write notes, write answers.
I’m at all times amazed by the brevity of some of the answers.
Hasty replies like, “Yes. NO. Maybe in the future. We don’t do that.” won’t help your case. They look more like scribbled notes than a professional response to a proposal.
Short, unexplained answers leave room for the client to fill in the gaps. This will not increase your chances of winning.
Always try to explain your answers. If you do not meet the requirements, please explain why.
A tool for automating quote requests, it makes sense. However, consider how much effort your client puts into preparing the offer document. It would be good if you reciprocated this effort in your replies.
2. Less is more
In the same vein, I counsel you to not treat your RFP as if you were writing a book.
An effective RFP doesn’t have to sound prefer it was written by a skilled author. Not every response must be a college-level dissertation.
There is someone on the other side of this report who needs to know your answers. So try to maintain your answers factual and limit fat every time possible.
For example, as an alternative of writing 3 paragraphs about network architecture, include a diagram. This brings us to the next point.
3. Include links to supporting content
You get this query:
“Are you supportive [insert obscured integration here]?”
You answer “Yes.”
The customer will probably ask, “How do you do it?”
Instead of waiting for the inevitable follow-up query, include supporting materials immediately. Links to web sites, documents or diagrams that may help make clear your answer.
Most RFP response templates include an “additional information/explanation” section, so make sure to use it. Even if this is not the case, you can at all times add more details to your responses or submit content along with your submissions to the RFP. Who will stop you?
4. Ask questions
This is a great approach to keep your customer engaged during the RFP process.
Far too often, respondents fill out an RFP and throw it over the wall. Then they wait, hoping for an answer. This is not a winning strategy, and prolonged episodes of silence can damage your deal.
Asking your prospects questions throughout the process can’t only keep you in the conversation, but you can use them as an opportunity to disclose information about your competitive process.
Clarifying requirements questions is also crucial to writing a winning answer. Don’t think this makes you look “weak” – the reality is that most respondents will not meet all the project requirements. Getting clear on what’s really essential to the buyer can greatly increase your possibilities of winning.
Here are some examples:
- “Why did you ask this specific requirement, or is it something you see competitors doing?”
- “How important is this requirement? Did you know that you can get better results with XYZ?”
- “ABC is on our agenda. How do you recommend answering this question?”
5. Address customer concerns proactively in your response
One of the best things you can do is use your response as a approach to deal with objections.
Each request for quotation is mainly asynchronous sales dialogue in written form.
Pretend you’re having a conversation and the client is difficult you on a specific requirement. Will you just hand over on the phone call immediately?
Of course not.
So, when faced with difficult requirements for an RFP, reach out and explain your case.
Include trap questions that your customer might ask your competitors. If there are hard requirements that you don’t meet, ask the client why those requirements are essential. Explain the alternatives and provide the customer with evidence of how they’ll solve their problem with your solution.
Every response is an opportunity to embed something you are doing higher than your competition.
Bonus: Here are 3 RFP practices to avoid
- He doesn’t answer
Here’s common sales advice:
“Don’t answer unless you know you can win.”
Yes, you should avoid wasting time on RFPs that you are not in the best position to win. However, refusing to answer an opportunity is not a strategy.
You should give you the option to quickly determine if you are being in comparison with someone who has already won the supplier selection process. If not, there is no reason why you shouldn’t respond - Waiting until the last minute
The early bird gets the worm. You don’t need to be the last company to report at 11:00. It doesn’t matter if the selection process takes weeks or even months. A fast request for quotation will allow you to do this back to sales.
Far too often we see corporations dragging out this process to the point where it looks like they’re rushing through the accounting report at the last minute. - Assuming no one reads the document
No one is REALLY going to read these mass replies, right?
Evil.
The truth is that most vendor selection corporations have dedicated team members who manage the process. This is a mistake that will lead you to weak/incomplete answers.
Remember that “the Assumption is the mother of all.”
Application
Responding to an RFP is painful. We understand.
But it’s really painful to waste an opportunity with a poor response.
Follow the following tips to generate answers that can increase your possibilities of success.