Does Every Presentation Need To End With A Question-And-Answer Session The 10 Elements of Successful Tendering

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The 10 Elements of Successful Tendering

More than 30 billion dollars is spent through the tendering process in Australia but many businesses are minimizing their opportunities to reap the rewards of generating lucrative contracts. I have seen many businesses that are too busy responding to tenders to stop and look for ways they can start winning tenders. I asked several companies about their strategy for responding to particular tenders, only to find that there was none. I asked the companies what criteria they used to determine which tenders they should respond to, only to find again that there were none. This is not a good start for any tender, especially when we consider how much time should be spent on a tender submission.

It is important to recognize that a winning submission is the end result of a chain of well-executed events. This chain starts with the tender selection process and ends with the final presentation given to a tendering board.

Why is a tender submission the most important sales document you can write? It’s simple. The document you submit is the only basis on which the buyer can make a decision and judge your company on its ability to deliver their desired results. In other sales situations, you can follow up on a proposal with a phone call and discuss any areas that a buyer is unsure about. Being able to follow up on a proposal also gives you more opportunities to sell the benefits of your company’s products or services. Even in a tender situation the document must sell all aspects of the project and offer better solutions than the competition.

The 1st element – Existing Relationship When responding to tenders you need to know if you are the right fit for the contract being offered. There is no point in answering if you do not have a clear understanding of the company or organization requesting the tender. It is important to gather intelligence on tenders available in your industry. This will give you valuable information and knowledge of market potential, who your competitors are and what are the current solutions that buyers are looking for. Depending on the industry many tenders are repetitive and often come up for resubmission, so you can prepare yourself to respond more effectively to future offers. This also allows you to educate and inform as well as build a relationship with potential clients which will improve the chances of you being invited to tender.

A good source of information on tenders is advertising companies that can provide you with information on tenders specific to your industry that is easily accessible on the internet.

The 2nd element – May be one of the few answers Several tenders were won before it was published. When a company asks for an expression of public interest they already invite others personally based on previous relationships to deliver the future project. These organizations usually go to between 3 and 5 suppliers to determine who is the best provider of a solution. Then they will publish the tender to open the response to other potential suppliers in the market. If you are invited to develop your chances of winning increase dramatically because the organization that asked you to respond has an understanding of your capabilities to deliver projects. So from a strategic point of view it is important to build relationships that add value to potential market prospects.

The 3rd element – Does tender fit your marketing strategy? One of the important questions to ask in your tender process is other opportunities around a tender? For example, if a company is looking for a recruitment firm to consult on developing systems and processes to help build their human resources capabilities, then does the company also need help recruiting executive staff? as an additional service. This is apart from the request for the original tender and will be one of the many opportunities available for additional work. Another question to consider is whether to make a tender a strong strategic alliance. This means that by joining a company, can they open the door for you to do business with their clients or other areas of the same company and can they use your expertise to add value to their clients. This will dramatically improve the chances of dealing with like-minded companies.

The fourth element – Is your tendering team resourced and available? As mentioned before, a tender is the most important sales document you can write. To maximize your opportunity you must prepare yourself to respond effectively and efficiently. You need to clearly differentiate your service and your process, and you need to prioritize the tender appropriately so that you meet your submission deadline. You must have selection criteria that determine whether you are willing and able to respond and that the tender matches your delivery capabilities. It is also important to improve your team’s writing skills so that you can effectively communicate your submission. Allow additional staff or assistance if you are tendering or bringing in outside help to help you put your document together. You need all the help you can get to meet your deadline on a big project.

The 5th element – Prepare 75% of your document before release You can amend most of your documents before issuing a tender. This will greatly improve your ability to respond as you can prepare the following items:

  • Your mission statement
  • Company background
  • Executive summary
  • Referees and testimonials
  • Current business activities
  • Financial statements
  • Health and safety at work
  • Quality Assurance certifications
  • Training programs

The presentation of the submission must be decided and designed. You should have a management process for your document. Your cover, tabs, diagrams and text layout should be ready in advance and have an image library available with templated graphics to use in your documents.

The 6th element – Do you have a competitive advantage? It is important to identify your competitive advantage in your tender. There should be a clear indication of what makes your company an obvious contender for winning the contract. Things you should consider when including showing what sets you apart from your competitors are: you may have specialist services; your distribution systems are state of the art; your team’s expertise is highly technical; your service is aimed at solving the frustrations that people in your industry have; and you can provide more support and support beyond the standards. An important consideration may be that, by using your services, you will reduce their costs and add to their bottom line. Part of your point of difference is your pricing policy. The following are the issues to be considered:

  • Remove irrelevant marketing costs from pricing
  • Consider the lifetime value of the client not just the tender itself
  • Consider the value of additional sales opportunities that come from existing relationships
  • Consider the strategic advantages of external relations

The 7th element – Clearly communicate your understanding of the culture, needs and value of the submitted solution to the buyer Five things that can demonstrate your understanding of buyers’ needs:

  1. Write in a way that reflects the buying company’s culture (use their terminology and style in your writing)
  2. Clearly communicate your understanding of the requirements and demonstrate that you have the ideal solution
  3. Express your value for money
  4. Show your compliance and non-compliance
  5. Write in the same order of details (question and answer method)

Five ways to avoid blooming mistakes:

  1. Lack of capacity to perform work – no case studies or referees included to illustrate competence
  2. Trying to teach the buyer a lesson (they already have an idea of ​​what they want so follow it)
  3. Criticism of tender requirements
  4. Failing to answer questions or submitting upside-down pages and spelling mistakes
  5. Submitting a bid beyond its deadline

The 8th element – Presentation and Submission In order for your document to stand out from your competitors, it needs to look different from others – you want them to be drawn to your document. Here are 7 things to consider:

  1. Get your tender out of the pile first – use their images to show their corporate branding so the document represents them (if you use their images and logos make sure you get permission from the buyer to do so)
  2. Consider the layout of the tender specifications
  3. Show a level of commitment to winning within the submission
  4. Keep readers interested visually (use flow charts, images and graphics throughout the document)
  5. Make it easy to find specific sections of the document (use tabs to separate different sections)
  6. Have color testimonials with photos on file for digital printing
  7. Use digital printing to enhance the presentation of your document and use quality stock for printing (laminate covers and use paper that improves the photographic quality of your images)

The 9th element – Your ability to deliver This is very important – make sure you are able to give the contract. This includes meeting budgets, distribution, services and technology. If there are any additional costs involved outside of the tender, make sure you clearly state any possibilities of potentially increasing the investment and the methods to do so. Remember that this is a legally binding contract so make sure you check everything before you deliver your document.

The 10th element – Increased tender and sales opportunities Evaluate the value of ongoing organizational relationships as your credibility for subsequent soft and incremental sales opportunities that come from within. By delivering a high level of service during the contract period it will improve your chances of renewal. For consistency show ongoing reports with the same level of commitment as your tender document. This should be easy​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ Tendering is an exciting game that can generate huge amounts of business whether you are a small to medium business or a large corporation. The point here is that preparation and strategy are the keys to a winning tender submission.

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