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Capture management, also known as ‘Capture Planning’, is the strategic process of maximising the win potential of a request for proposal (RFP) opportunity. You can achieve this by optimising resources, business connections, and processes and gathering competitive insights. Ultimately, these methods of capture management help to position your company as the best solution for the customer. Compared to your competitors, your company can understand and meet the customer’s needs.
Crucially, all of this work happens before the RFP is received.
While this is not a part of the proposal process, it is a vital plan needed to elevate a company from an unknown to a preferred partner.
As such, it can dramatically increase your win rate potential.
Though valuable, capture planning is a time-consuming process that requires great detail. To achieve the highest possible return on investment (ROI), capture planning should be reserved for the most complex and valuable opportunities. So, not every RFP demands the same in-depth strategy. Many companies adopt a shorter version of their capture management strategy for routine RFPs to save time, as the majority of capture plans take between nine and eighteen months to complete.
Capture management is a highly difficult job in any company as it requires a varied skill set and experience in many fields. They also have the difficult task of selling internally and externally to both their company and the customer. Therefore, capture managers must create and develop strategies utilising their knowledge in areas such as:
When the RFP is released, capture management hands over to the proposal management who put their strategy into writing. However, the capture manager is responsible for involving the proposal management before the RFP release, so that they are better prepared to win the proposal. Ultimately, the proposal management are responsible for producing the written document which will help close the sale.
Further, consistently winning proposals heavily relies upon a strong proposal management process, which works in tandem with the capture management in a partnership. If one role is not filled effectively, the chances of winning a proposal significantly decrease.
As aforementioned, capture and proposal management must work together in order to achieve the best possible potential of success.
Capture Management can detrimentally affect the proposal management processes if:
Proposal Management can detrimentally affect the ability to win a proposal if:
Overall, the proposal management of any company identifies what it will take to win the proposal from the research conducted by the capture management – this takes the form of criteria in which the proposal management can then value the quality of the proposal they produce.
Capture planning for government contracts often occurs when the RFP is in its early stages of creation – bids are often unofficially won before the RFP actually comes out.
A strong capture strategy is crucial for identifying the customer’s expected timeline and demands the same process as mentioned above – research, pricing, the company’s assets and the customer’s issues
The key to success when regarding government contracts is using the same outline of the RFP and paying attention to strict proposal guides – word count, font and graphic size.
If you fail to meet their requirements, your proposal can be discarded.
Keywords play a crucial role in the success of your business. By increasing your online visibility and discoverability, you can grow your business at a faster rate and drive profit from this exposure. Simply, this is how customers find your business!
When it comes to RFPs, this is also how your business finds bidding opportunities. Unfortunately, government procurement offices don’t use standardised keyword descriptors, which would make finding RFPs that match your strategy much easier. Instead, there are seemingly endless databases, portals and search functions that make sourcing suitable RFPs a difficult task.
As a result, keywords should be carefully and deliberately chosen as part of your growing keyword list.
The aim is to think like a buyer!
It is time to put the effective keywords to use. For example, the optimal method of building a connection with the customer is by mirroring their keywords and language in your own proposal.
Capture management, proposal management and the utilisation of effective keywords are all crucial planning tools for securing a winning RFP opportunity.
Things to remember:
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