Thursday, 19 May 2011

Five steps to better bids/proposals

In the consultancy sector win rates of 1 in 3 are average. However the reality is many firms are not even getting close to this figure. Research found that over 50% of business developers admitted that if they were in their prospect's shoes, their own proposals would not persuade them to buy. So how can consulting firms increase their bid win rates?

Experience working with a wide variety of consulting firms has led Shaping Business to conclude that there are five principles that increase the chances of winning business in what is an increasingly competitive marketplace:

  1. Invest time in really understanding your prospect’s needs, priorities and broader business objectives
  2. Demonstrate benefits not features to directly influence your buyer's decision
  3. Differentiate on things that matter to your prospect which show your ability to do a good job for them
  4. Develop an accessible document that keeps your reader’s interest using a logical structure and the right level of detail
  5. Develop an attractive document that encourages readers to pick it up and engage with the content.
Read the full article by downloading our "Five steps to better bids".

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