Not every bid is a winning one, but that doesn’t mean you won’t get anything out of the process. With the correct approach, you can ask for and receive feedback as to why your bid was unsuccessful.
After losing a bid (it happens to the best of us), it can be too easy to just move on to the next tender. However, times like these are opportunities to gain a proper understanding of where the bid failed and hone your skills to move constructively onwards, knowing how you can improve your offering or how you present your proposal the next time around.
Bids can certainly be awarded to the competitor with the lowest price, but there are many other factors that come in to play such as timelines, how you demonstrate value and the evidence you provide to support your claims. Poorly constructed answers and lack of supporting documents indicate that you may not have understood the requirements in the ITT. In cases like this feedback is invaluable as it indicates exactly where you are falling down, meaning you can either modify your approach in the future or seek help to do so.
Reviewing your bid and any associated feedback will help to (amongst other things);
Give you an understanding of where your bid writing may be letting you down
Modify your pricing structure and/or consider alternative pricing scenarios
Provide better evidence of your experience of your ability to meet the requirements
Improve your bid presentation – be that more clearly/more professionally/longer/shorter
Identify skills gaps within your bid team
Seek help or training more effectively – by knowing the key areas to focus on
Increase your chances of winning subsequent bids
We can help you if you’d like us to. Not all our clients come to us while they are involved in an actual bid process; many seek our support after they have lost bids. Any feedback you can bring with you will help us to help you improve your bids, increasing your win rate and the success of your business.
Contact us now if you'd like us to help you review your bids and feedback.