A win strategy is crucial to any company that wants to get their contract. It is an essential part of the bid process and it ensures you know what needs to be done in order for your team to come out successful.
What Is A Win Strategy?
When a contract is desirable to a company, the bid team must first evaluate how well the company can efficiently meet all the needs or concerns of the customer. The proposal that is then formulated according to these sufficiencies is the win strategy.
Win Strategy Benefits
The customer will be evaluating many offers from competitors saying essentially the same things according to the RFP. But you can ensure that your proposal will stand out by writing it in a way that is informative and engaging. You can make your proposal interesting to the customer by clearly stating what things are different about your proposal than the competitors’ offers. This is a huge benefit.
Another benefit is posturing a knowledgeable team. A winning strategy starts with the right team. Be sure to include members of your company who are familiar with the customers so that everything that you do or say stands out from the other bids on this project.
Keys To A Win Strategy
Below are some key areas to bear in mind toward developing a winning strategy:
Get To Know Your Customer
Try to understand your customer’s business history, character, and objectives.
What does your customer want to achieve? How would they define success, and what are the steps needing to be taken for them to reach this goal? Answering these questions will help you determine which solution might be best able to meet their needs. This also ensures it aligns with other relevant factors like budget or timeline constraints.
For which industry does the client operate?
What are some of their challenges in terms of how they have tackled these issues before? What opportunities can be exploited by them that will help further grow your company’s success even more?
What are you able to measure as success for your service? Is this aligned with what the client wants it to be measured by, or does something have need of changing in order for them both to succeed?
What is the character of the company? Does your company share those characteristics? How can your company meet or accommodate ethnic differences for the sake of a positive business experience?
Understand Client’s Hot Buttons
Your customer wants to be successful, but when they look at your company’s products and services for purchase there are many things that need attention. Naturally this responsibility comes with concerns about making the right decision in terms of expenditure.
The best way to find out what your customer’s hot buttons are would be by asking them. You can ask, “What are some of the things that you are most worried about with this project?”
In preparation, make a list of all the concerns your customer has expressed as well as any you suspect about this project. Remember that it is important not just to have their most pressing issue at hand but also those they are concerned with or hope for during implementation.
Weigh these considerations by ranking order (1-5). Once ranked on this scale prioritize them according to severity.
Discuss Your Differentiators/ Discriminators
As a team, discuss how you will set yourself apart from your competition by stating your unique selling propositions. A unique selling proposition, more commonly referred to as a USP, is the one thing that makes your business better than the competition. It is a specific benefit that makes your business stand out when compared to other businesses in your market.
Make a list of the key USPs and critically analyze them in relation to the broader landscape for comparison’s sake. Then determine which ones are most valuable or important by cross-referencing with the customer’s hot button analysis findings.
Every company wants to win contracts for business. But not every proposal will have a high Pwin that can help towards success. Pwin (Probability of Win) is an important tool for assessing the chances a company has for winning a business opportunity. Pwin is the evaluating concept that will help position the contractor into a more probable win for the bid.
The best help toward gaining the good Pwin number for confident bidding is using AI-empowered platform, such as Scion Analytics’ Content Analytics Platform (CAP), that can provide comprehensive Bid/No Bid analysis of an RFP quickly.