Bid writing has never been more challenging for a variety of reasons. The constant turnover in the industry, ever-changing market dynamics, and an increasingly globalized world have all contributed to heightening the stakes. Coupled with increasing scrutiny by procurement professionals, contractors and subcontractors need to do everything they can to be informed and stay ahead of the game. This post will provide you with some useful bid writing tips that will give you an edge over your competitors.
- Be realistic about your prices.
Do you think the market can absorb your proposal at your price? Too many contractors fail to realize that prices are much different from what their firms would like them to be. You should always think of it from the perspective of how you can reduce costs without lowering your quality. You don’t have to set the lowest price, but it’s important for you not to overprice your services and end up making a loss on the deal.
- Understand the client and the project.
Before you submit your bid, you must understand and closely study the client, their goals, and objectives in getting the project done. You should also be able to identify what they will gain from their investment through your work. Remember that it’s not just about the money, but it’s also about how well your entity will be positioned for any future projects with the client.
- Identify your target market.
You should be able to identify the ideal clients for your services and bid proposals. In the absence of such information, you can ask your colleagues for information about their recent projects. As much as possible, you should also identify projects that will be coming up any time soon. This will enable you to stay ahead of the curve when it comes to bidding for projects.
- Write a clear and detailed executive summary section in the bid proposal letter.
Since most clients will not bother to go through the whole document, you should put a lot of effort into making the right first impression. This is perhaps the most important section of your bid proposal letter. You should be able to tell clients in less than six pages what their project will look like upon completion. It should include an objective statement about what you plan to do for them and it should also include a detailed list of the facilities and services that you can offer.
- Be specific about your capabilities.
Although your experience is always an asset, you should also be able to highlight other factors that can make you the preferred service provider. You can do it by being very specific about the results that you can produce for clients because of your capabilities or facilities. It’s a good idea to provide a detailed list of projects that your company has successfully handled in the past along with their successful completion dates and budget overruns if there were any.
- Hire professional bid and tender writing services.
A professional writer can provide you with the right words that you need to attract clients. This will also help you to avoid making mistakes while writing your bid proposal letter and make sure that it is fully compliant. Hiring a professional bid and tender writing services won’t only help you avoid making critical errors, but it also helps to create a positive impression in the mind of the client.
Setting the right price for your services is just one of the many factors that are important to consider when writing a bid proposal letter. You also need to look at how you can identify your target market, what their expectations and goals are, what capabilities you have, and how you plan to meet them. The above advice will help you write a great bid proposal letter that will give you an edge over your competitors.