During the course of the past few years, we as a company have been involved in a very large number of PQQ and tender writing projects, as well as projects that require our bid management services to manage the successful submission of must-win tenders.
Over the course of these years we have come across a number of clients who are genuinely struggling with their win rate when tendering in the public or private sector. Granted, this is not unusual in these ever-competitive marketplaces, but there have been patterns and trends that we have noted, as a team, which may explain why you are struggling to secure more business. And the best news is that these items that we have noted can be very quickly fixed!
Now, we all know that there is no such thing as a sure thing when it comes to tendering for business, but these hints and tips should certainly see your win rate start to increase once they have been taken into consideration.
Are you simply rehashing an old tender?
Taking the time to prepare a tender document can take a tremendous amount of time and effort, but what that does not mean, unfortunately, is that once you have completed one of these submissions, you can then go ahead and use it for all of your submissions moving forward.
Making small adjustments to an existing tender is asking for trouble, and you should be very careful when you are considering using an old submission to try and secure new work. You need to accept the fact that the first tender you wrote was not perfect, and making adjustment after adjustment will only mean embedding its imperfections even further.
Here at Executive Compass, we never re-use an old tender, or any of the narrative inside it, and every single one of the submissions we complete for our clients has been written fresh by our dedicated tender writers. This is a strategy that we have found to be very fruitful, and is demonstrated by our success rate, which stands at over 80%.
Are you a right fit for this contract? Do you meet the requirements?
We receive calls every week from irate would-be clients who cannot understand why their success rate is so low for their PQQs and tenders. We then ask them how many contracts they are applying for per month, and their response is usually 20+. That’s the problem these companies are having: there is no way that you can devote enough of your resources to produce a high quality bespoke submission that meets the requirements of the contract, and goes above and beyond the core requirements to demonstrate added value, if you are trying to submit so many tenders a month.
What you need to do is incorporate a bid/no-bid decision-making process into your tender procedures, allowing you to refine your searches for contract opportunities, and only complete the PQQ for a contract that is a good fit for your organisation. You will soon realise that when you start to be more selective over the opportunities you pursue, your win rate or ITT rate will quickly increase. This is because you are able to make sure that you are a good fit to start off with, devote the necessary amount of time to each submission, ensuring that you have read and completed every question correctly, and that your bid is fully compliant.
If you are at a loss to understand why your submissions keep getting knocked back, why not call us today and I am sure we will be able to help.