We’re often told by companies that we work with that they don’t tender as it takes too long, they’re never successful, they don’t have the time, and the buyer already knows who they want to work with.
Tendering is a powerful way to generate new business, so powerful in fact that many businesses use this as their sole route to winning new business. We think every business should at least try tendering. We understand why businesses are put off from the long, in-depth process you’ve to follow, but spending the time upfront to learn how to tender could be vital to the success and growth of your service based business.
Our Growth Director, Jill has been winning work via tendering for well over a decade, and she is sharing with you below, her top five reasons for tendering.
YOU DON’T NEED TO SELL THE NEED FOR YOUR SERVICE
Responding to tenders means businesses have already established the need for your services and have allocated a budget to carry out the work. This reduces the need for selling the benefits of the services, and establishing the benefit of investing money.
Responding to a tender means your core goal is to ensure they see that you are the best fit for their business. Surely, it’s worth a try? Just make sure you follow a strict process of what you will and won’t apply for.
THE PROJECT HAS CLEAR START AND END DATES
When tendering the client usually outlines when they would like the work to start and end, meaning you can work your internal timescales around this, the project may not run exactly on time, but it will give you an overall indication.
When selling directly B2B we often have projects on hold waiting for particular aspects to be confirmed or budgets to be agreed. We’re not saying this won’t happen when tendering, but your client is likely to be more prepared.
BUDGET SIGNED OFF IN ADVANCE
As the budget, has already been allocated, you know what constraints you’re working within, allowing you to best advise your client where to allocate spend…[Read More]