How To Win More Bids As A Contracting Firm
Regardless of what business sector you’re in, the success of your contracting business is heavily linked to winning bids. After all, without clients and projects, nothing else you do will matter.
Actively building a strategy that will strengthen your position in the contract bidding process is vital. Here are five top tips that will lead you to greater success with immediate and ongoing results.
Actively Become Better At Bid Writing
Bid writers play a significant role in your business. They can find opportunities, collect data, check the rules, and create bid libraries. Crucially, they design, write, edit, and submit bids on the company’s behalf. While you could hire an outside company to do this for you, bid writing courses will empower your existing team. In turn, your business will make a more memorable impression while also communicating the terms with greater clarity.
Until you have his aspect under control, you should not consider other steps. It is an essential feature that you cannot underestimate for a second.
Build Brand Visibility
Your business may have a different relationship with its clients than a retailer, for example. However, prospective leads will still conduct research into the business after you’ve made a bid. Likewise, they may invite bids from relevant contractors. For this reason, it’s imperative that you build a strong web presence through a dedicated SEO campaign. When a prospect subsequently looks at different bidders, this presence will stand you in good stead.
As far as marketing is concerned, this is the most valuable feature by far. Having said that, positive reviews from past clients can be very useful too.
Choose The Right Bids
The harsh reality is that many businesses fail to win bids simply because they approach the wrong projects. For starters, you are unlikely to win the bids if your company isn’t capable of providing the right results. Worse still, the energy wasted here will reduce the impact of your relevant bids. Create an ideal hypothetical project based on your skills and past projects that have worked well. Following this, you can strategically focus on jobs that fit its profile.
You’ll act with greater confidence and will have a portfolio to back up your bid claims. So, you should see a far greater conversion rate.
Focus On Value
If you are struggling to win bids, one potential response is to focus on becoming the cheapest option. However, most clients are more interested in value. Your goal, therefore, is to show that you are the right choice for them. You should also build an accurate budget for your costs. Otherwise, you may have to revise your bid at a later date, which could see clients pull the plug. Frankly, this is the most frustrating outcome.
Authenticity and clarity will get the client relationship off to a better start. So, you should find that you see greater satisfaction and loyalty.
Analyse Your Results
Finally, we live in a world that’s driven by data. Use analytics to identify where your bids are succeeding and failing. In turn, you will be able to make the necessary adjustments for continued growth and increased success.