|
I'll assume you already know but for those of you who do not, an
"RFP" is a "Request for Proposal". It is an invitation for
suppliers/vendors to bid on a project. The RFP typically leaves
all or part of the exact structure and format of the proposal
response to the vendor's discretion. The creativity and
innovation that suppliers choose to build into their proposals
may be used to judge supplier proposals against each other.
Effective RFPs typically reflect the strategy and
short/long-term business objectives, providing detailed insight
upon which suppliers will be able to offer a matching
perspective. This is where the professionals (yes, even small,
boutique companies) win and the hacks don't quite get it.
There are a number of reasons that companies of all sizes don't
get the nod for a job from the client AND there are multiple
reasons that clients send out the RFPs:
· Generally firms send out RFPs even if they already
have a preferred candidate in mind. They do so to appear fair
and efficient to procurement or oversight bodies. Nothing you
can do about that. It just IS.
· Often the preferred vendor works with the client to
design the RFP, which makes odds even lower that you'll get the
project (unless you are the preferred candidate).
· Sometimes clients issue an RFP when they have no
intention of moving forward, but just want to collect some
information. It's pretty much FREE research for them to study
and file away.
· If you don't have an established relationship with the
decision-makers, odds of winning are low — even lower than one
divided by the number of vendors who respond.
· People generally hire vendor-suppliers as the sole
source, because they see other work done by a vendor or hear
about a vendor from trusted colleagues. So some people think it
is not worth the time to complete RFPs. I could not agree more
vehemently. Not only is it a good exercise as you become a more
seasoned business person, it's rude not to respond and you just
MIGHT get the gig!
So when you get an RFP, consider this:
1. If you are a trusted advisor to the client and they need to
create an RFP (maybe with your help) they are likely trying to
being fair.
2. If you have no relationship with the client, but want to use
the RFP to develop a relationship, you may not win the job, but
can use the RFP to nurture a relationship and develop a
foundation for later work.
3. You have strong relationships with the decision-makers.
4. You have a massive advantage compared to other competitors
that raises your odds of winning IF you have a proprietary
technology, or an unbeatable track record of specific business
results.
In short, the more detailed the specifications, the better the
chances that the proposal you respond with will be accurate.
Generally RFPs are sent to an approved supplier or vendor list.
Ultimately, you and the other companies budding with return a
proposal by a set date and time. Late proposals may or may not
be considered, depending on the terms of the initial RFP. The
proposals are used to evaluate the suitability as a supplier,
vendor, or institutional partner. Discussions may be held on the
proposals (often to clarify technical capabilities or to note
errors in a proposal). In some instances, all or only selected
bidders may be invited to participate in subsequent bids, or may
be asked to submit their best technical and financial proposal,
commonly referred to as a Best and Final Offer (BAFO).
Do not forget, an RFP is a good thing for your company too. You
will know exactly what the client's expectations are and in what
timeframe. Remember also, if you are a minority or certified
female or veteran owned company, you may have an even better
chance.
Hopefully,
this all makes sense to you. Got some questions or need some
help in responding to your RFP? Call me. I'm your #1 Las
Vegas marketing resource!
Mary Ann
McQueen Butcher
Goddess of
Marketing
RedCarpetMarketing.com
www.LVRedCarpet.com / 702
994-7282
NEXT WEEK:
Which certifications really matter to your company
|
