Several organizations often put their projects out to tender whenever they require particular services. By doing so, they invite other businesses to bid on the work, and the company which wins is employed. Here are some tips that will help SMEs win tenders.
Avoid Quoting Too Much or Too Little
Avoid overestimating or underestimating your quote. A low or very high price will ring an alarm. In most cases, you are required to give your own costs or fill in the provided pricing table. For low price bidders, the company may think your services are automatically of inferior quality. You, therefore, need to be very careful. Since bidding is very competitive, high price bidders are also at risk, because someone might give a lesser quote, compared to what you have provided.
It is essential to research even if it takes a lot of your time. Researching will help you not to lose to someone who definitely has. Study more about the market, the client and competitors.
Knowing more about the market will reveal to your client that you have done proper research, and are aware of how the industry and the organization works.
Besides that, understanding the business of your client, their services and products will help you know the kind of challenges they have. You will also be able to find the proper solution which they need.
To top it all, find out who your competitors are, and know what they are doing. This will enable you to compete favorably, or come up with better solutions as compared to your competitors.
Do not risk ruining your integrity, especially if it will be challenging to meet your clients’ needs. Be open for your own good. If you cannot find a suitable solution, you had better not take the risk of applying. Also, avoid criticizing the services and products which the client has. Instead, if you think you can give them a much better option, inform them about it.
Include All Important Details in Your Tender Application
Of course, you would like to be judged based on what you present. Use a simple format and clearly indicate all essential details on your proposal, for your client to have an easy time going through it.
Double-check your proposal to correct any errors which you might have made. This is obvious, but many people forget to do so. Pay attention to every little detail in your application and make sure it is perfect. Keep in mind that you are competing with other applicants.
Describe Your Working Process
Your working process can make your client either consider your proposal or remove you from the list of applicants. Describe how you work in a manner which will help your client have a clear vision of how the project will run. Include how you will ensure their ideas are presented, and clearly indicate how you will communicate with them. Keep your description simple and easy for your client to understand and appreciate your efforts.