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Last updated: July 11th, 2022 @ 01:09 pm
Maybe you’re sat there, frustrated that no matter how much effort you seem to put into your tendering strategy, you still don’t seem to be getting anywhere. Trust me, you’re not the only one who feels like that. Sometimes it can seem like no matter what you do, tendering seems to be a game of luck and if the wind blows in the right direction you might win. Or if only you knew the right people, you might stand a chance.
But, in fact, the very reason the tendering and procurement process was introduced was to eliminate any elements of luck or favouritism that might have been present in the purchasing of goods and services previously. The tendering process as we know it was designed to increase transparency and give all eligible suppliers a fighting chance. So, to increase your chances of winning a contract, you need to develop a fool-proof tendering strategy.
If you’re new to the tendering process, developing and implementing a tendering strategy might be daunting at first. However, it doesn’t have to be.
Whilst we know there isn’t one single, winning formula that is guaranteed to win you the contract each time, there are practises you can adopt to maximise your chances of success. Whilst they are by no means guarantees, our team of tender experts in the Hudson Succeed Team have put together their five top tips for improving your tender strategy. Inculcate these five practises into your bid management strategy and you should be on the road to success in no time!
In tendering, as in life (my late grandmother would say) never, ever underestimate the value of good planning. Planning out your tendering strategy, setting goals and making these realistic and precise enough to be attainable, will stand you in good stead for your tendering efforts. Specifically:
We can’t stress the importance of evidence and examples enough. It is key to factor providing concrete examples into your tendering strategy. This way buyers will know you are a safe bet, that you can successfully deliver the contract you are saying you can. And who can blame them? They want some solid evidence of your competency before they part with their hard-earned cash.
Ideally, you’ll have two to three contract examples from the past five years. These will be similar in size, scope and complexity to the contract you’re bidding for. If they don’t showcase your relevant experience, there is no point including them in your tendering strategy.
It is all well and good saying that you can do something, but it is another thing actually proving it. Where possible, it is a good idea to provide contact details along with evidence. For example, if you develop a bank of case studies to attach to tender submissions to showcase your ability, include details of a reference from each project. This is a good way to show buyers you are so confident in your abilities that they can contact your past clients to verify your abilities. And sometimes they actually might!
For more information check out our video “Evidence is Key” on Tender VLE, the UK’s first, free of charge, online tendering virtual, learning environment. If you’d like a hand compiling a bank of professional and detailed case studies to use in tender submissions, contact our Hudson Succeed Team today who can guide you through our bespoke packages.
Don’t make the mistake of thinking that if you shoot enough bullets you will hit the target. It simply won’t work. Be careful, take your time, look at the requirements of each opportunity and only select ones that are within your reach, that you are confident you can deliver and which would be worth it if indeed you won.
We’ve seen clients bid for numerous pieces at work at once, rush the submissions as a result, and lose out on key contracts. Similarly, we have seen clients bid for so many contracts they can’t keep track and don’t look into them closely enough. As a result, they have ended up winning small jobs which are too far away to make them worthwhile or really profitable for the company but are contractually obliged to deliver.
It is important to fit some work on your finances into your tendering strategy. If you’re a company based in London, for example, make sure you vary your pricing across the country. Costing based on London rates for a job in Preston will probably lose you the bid. Make sure you take the time to understand the going rates for jobs in a given area. Do some competitor research and price a few pounds underneath the going rate if you can afford it.
When you tender for work, there’s a good chance that you’ll be faced with plenty of competition, all going for the same contract. To stand out from the competition, you need to add as much value as possible to the contract. Added value, also known as social value, is now mandatory in public sector contracts, with a compulsory weighting of 10%. Therefore, you need to show the buyer how your business will deal with environmental, social and economic factors.
This could include:
If you want to improve your tendering strategy, remember our top five tips for success:
So, are you interested in how bid management companies can help you grow?
Enter Hudson Succeed!
We have over 60 years of bid writing experience and an 87% success rate. Whether you’re completely new to tendering or aren’t seeing results – we can help. There are four bid writing packages available:
Once you’ve found a tender you’d like to go for, send it over to us. One of our Bid Writers will write the tender response for you. We’ll provide a full Tender Writing breakdown and even submit it on your behalf.
Tender Mentor can give your tender response a once-over before you submit it. Our Bid Writing Team will analyse your response, notifying you of any errors and opportunities for improvements prior to submission.
During the Tender Ready service, our team will create professional policies, procedures, and case studies in your company branding. If you already have this content, we will review everything carefully to ensure that nothing is missed. Once the programme is complete, you’ll have access to three days’ worth of bid consultancy. This can be used for bid writing, tender reviews, or general advice and guidance.
The Tender Improvement package can help those who have tendered before but aren’t seeing results. Our Bid Writers will assess your previous responses and work with you to develop improved content.
Get in touch to find out how we can help your business grow.
Are you curious about finding tenders for your business?
There’s no shortage of websites offering multi-sector tendering opportunities and leads.
Ideally, you should be searching for a sector-specific site that posts all unique, public and private sector opportunities.
Once signed up, you’ll have access to your own dedicated Account Manager. They’ll be able to answer any questions you may have about public sector contracts. Likewise, you’ll also get an email alert when new and relevant tenders are uploaded to your sector.
If you want to streamline the process even further, you can sign up to Discover Elite via your chosen portal. With this service, a dedicated Account Manager will find live bids on your behalf. They’ll speak with you weekly to discuss opportunities that may interest you. This is especially helpful for those with little time to spare due to busy schedules.
Our support doesn’t end there! Our creative content agency, Vocal, are on hand to help.
The Vocal Team are not afraid to stand up and be heard. And we make sure our clients aren’t either! From small, micro-businesses to large organisations, we are vocal about the things that make your business unique.
Our creative service is dedicated to growing your business through striking and thought-provoking content. We’ll take your bid and give it a complete makeover. With professionally designed tender documents, you’re sure to make an impression on the buyer!
Our team specialise in six areas, including:
If you’d like to know more about what we can do for your business, introduce yourself to the team!
Contact us to find out more!
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