Tough times provide the motivation to polish every step of your company's business development process. Chris Bray, strategic marketing consultant, on how to evaluate and improve the quality of new business proposals.
1. Is this an opportunity you can win?
Start with an honest assessment of your chances of success. Assume that the buyer is going to be flooded with proposals and may already have a preferred supplier in mind. If the buyer doesn't know you - if you haven't been building a relationship with their company for some time - your chances of success are low. Is it really worth putting the effort into this proposal, or would your resources be better directed elsewhere? Insurance industry old hands will tell you that the secret of success is picking the right prospects, not chasing all of them.
2. What is the buyer's intrinsic need?
Resist the natural tendency to begin your proposal planning by listing all the reasons the buyer should pick you. Instead, start by discovering as much as you can about their organisation. In particular, look beyond the technical specifications of the Request for Proposal and learn out about their overall strategic objectives and challenges. When Sir Peter Blake was head of Team New Zealand, his focus was 'making the boat go faster'. Find out what matters to your buyer's organisation so that in your proposal you can show how what you do will help their boat go faster.
3. What other choices do they have?
Your proposal is going to be one of many, so think about who your competitors are likely to be. If you don't know (and cannot find out) who you will be competing against, imagine the kinds of companies who would be interested in this opportunity. Evaluate the strengths and weaknesses of the different options (including your option) from the buyer's perspective. In your proposal, you must highlight your strengths, manage your weaknesses and attempt to neutralise your competitors' strengths.
4. Why are you the right choice?
Understanding the buyer's need, and the competitive environment, what is your value proposition? Imagine the buyer briefly explaining to a colleague why - from all the available options - they chose your company. With that clear in your mind, you have the key message that everything in your proposal should communicate.
5. Is your proposal compliant?
With so many proposals to consider, the buyer's starting point will be to eliminate as many as possible as early in the process as they can. To make the cut, you have to play by the rules: meet the deadlines, provide the requested information and follow the prescribed format.
6. Is your proposal easy to evaluate?
Make it easy for the selection panel to compare your proposal with the others. Even if they haven't prescribed a format, it makes sense to follow the structure of the RFP, right down to names and numbers of each section and question. If they have given you their selection criteria, present those back to them, with the arguments in your favour under each heading.
7. How much cut-and-paste have you used?
Whenever someone on your team suggests cutting and pasting content from an earlier proposal, or from your standard credentials document, an alarm bell should sound. It's a sign that you haven't really thought hard enough about this particular buyer and their unique needs. Even your staff profiles should be edited with this buyer in mind.
8. Is your proposal customer-focussed?
A proposal is a sales pitch in writing. Successful sales people talk about what their customers want, not about themselves. They only talk about the features of their product if they are relevant to the buyer need and they always connect those features with the buyer benefits. Does your proposal pass the 'so what' test?
9. Have you provided evidence to support your claims?
Does your proposal pass the 'says who' test? Whenever you make a claim about your company or your products and services, be sure to verify the claim. If being the biggest is relevant, quote the data that proves it. If your customer service is relevant, include a client testimonial.
10. Does your proposal tell a compelling story?
Most RFPs help the buyer eliminate unsuitable candidates, but don't necessarily help them select the right one. Your challenge is to answer the technical questions they have asked and also demonstrate real insight into their underlying need. Overall, you want to present a simple solution in a manner that excites the buyer and instils confidence that you can deliver what you promise.
Chris Bray helps companies develop marketing strategies and sales proposals. He was on New Zealand's bid team for RWC 2011 and helped Wellington win rights to host two Rugby World Cup quarter finals. For more, go to www.omg.co.nz.
