This is the second in a three part series about helping your firm increase its tender success rate. Last time we looked at how to evaluate tender opportunities. This time we cover what you can do to identify opportunities and position your firm before an RFP is released.
How do you know if a client will be putting work out to tender?
- If you are on an existing panel, make sure you have diarised when the panel arrangements will come up for review. Ensure everyone who works with the client knows. Using your intranet and/or client management space are great ways to do this.
- Talk to major corporate targets / government departments that either have panel arrangements, which you are not part of, or that have no formal arrangements, about how they procure legal services. Find out their future plans and what you would need to do to position yourselves to win their work in a particular area.
- Understand any thresholds or practices around tendering regimes that your targets/clients have (e.g. has to go to tender over a certain dollar threshold). Talk to them about what projects they have coming up, and what their objectives are.
What questions should you ask?
Irrespective of whether you are, or aren’t, a current provider, you should ask the same basic questions:
- What is the person, his/her team and the wider organisation looking for in a service provider?
- What is important to them? (from both a personal and company perspective)
- What are the decision making criteria likely to be?
- Who will be making the decision? And who will be influencing it?
And, if you are known to them:
- What you do well and what you could improve?
Or, if you aren’t a current provider:
- What are their perceptions of your firm, experience and people?
- What do their existing providers do well and what could they improve?
You should never assume you know why an organisation is going to tender. You should also keep in mind that what they tell you may only be a part of the story. Depending on how strong your relationship is, how well you know the organisation and how probing your questions, you may come away with more or less of the full picture.
How do you position your individuals/firm prior to RFPs being released?
- Having asked the questions, you need to respond. Work out what is important to the target/client and think about how you can demonstrate your expertise.
- Develop a plan! What work do you want, who will you target, what are the issues in their industry, how will you position yourselves and how will you get to know the key people within the target organisation?
- Make sure you demonstrate your expertise online and offline, thinking about the media the client uses/interacts with – for example placing relevant articles/thought leadership pieces in trade journals and newspapers, asking and answering questions and commenting on appropriate discussions on relevant LinkedIn groups (i.e. those to which the client belongs), Tweeting useful articles/other content both that others and you have generated, commenting on the client’s blog posts (if and when opportunities arise) and posting relevant content on your blog and website.
What else would you recommend firms do to increase their likelihood of winning RFPs?
How do you position your firm to win tenders before they have come in the door?