How do I handle an RFP or a bid? Every salesperson has struggled with this issue and I contend too much time is wasted on requests for proposals. This is one of the topics I explore in my book, High-Profit Selling: Win the Sale Without Compromising on Price.
Just because you have an opportunity to submit a bid doesn’t mean you should. Remember, the objective of the person putting the bid out is to get as many responses as possible. They want to use you and your time to help them negotiate a deal with somebody else! Before you respond to any bid, ask yourself these two questions: What gives me the right to think I will get this bid? And, how much influence did I have in shaping how the bid was written?
Before you even think about doing the work on the bid, know your strategy! Yes, you can submit a response knowing you are not going to get it and that can be a viable strategy in certain situations.
Here are four reasons why you may choose to respond to a bid:
- To earn the business by winning the contract
- To earn the business but with a modified contract or plan
- To lose the bidding process with the goal of being a strong #2
- To lose but to gain key information or send a signal
Each one of these are very viable strategies. The key is knowing before you start what strategy you are going to employ and what your end goal is.
In my book, High-Profit Selling, I talk a lot about this issue. If you have not read this book, I strongly suggest you get a copy today.
Right now you can grab a Kindle copy of the book, High-Profit Selling for only $2.99. This is a special offer for the month of April only. Once April is over, so is the low price.
Give it a read and let me know how it helps you and your company. I know it will!
Copyright 2019, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Prospecting: Powerful Strategies to Find the Best Leads and Drive Breakthrough Sales Results