Various Benefits that RFP Response can give to your Business
Many people prefer getting new projects from referrals and avoid enduring hard work on responding to 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
The ultimate buyer in client organizations usually abhor with the purchasing of the sellers and its acquisition. 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. There is also a risk that competitors are going to use shortcuts and price slashing to capture the business. Such risks also apply to different client opportunities which is outside of the competitive RFP process. Though the process of winning the work is the primary goal, the case of losing to the competitors could 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.
Tailoring the Message
With an RFP response, it needs careful tailoring on the message of the company for the specifics of the RFP. This actually is a customized marketing message versus mass broadcast marketing message. A crafting mission and value to persuasive and coherent argument which demonstrates to the specific value on the requirements of clients is the thing of which separates winners from 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.
In fact, there’s a chance that you may not be able to win the contract by taking on a shot with 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.