Boost Your Conversion Rates And Win More Business

I’m constantly amazed at businesses which rely upon word of mouth and existing contracts to keep the business afloat.

And some do pretty well.

But quite often, owners are looking to grow their business to the next level or thinking about an exit in the next couple of years.

So winning new business and increasing conversion rates when bidding for new contracts becomes important.

Here are some of the most effective strategies for winning more contracts that have worked for me over the years.

?? Focus on your USP - in a competitive market, having a clear USP sets you apart. Highlight what you do differently… your unique strengths, expertise, and track record to stand out from the herd.

?? Build trust & credibility - some of this comes from word of mouth, but yuo can also establish your reputation by providing case studies, testimonials, and endorsements from clients. Demonstrate how you've delivered exceptional results in the past.

?? Be responsive & over-communicate - show clients that you're reliable and deserve their business. Prove you are committed to their success by promptly responding to enquiries, providing updates, and being proactive in addressing their concerns.

?? Perfect your pitch - create tailored proposals that demonstrate a deep understanding of client and their pain points. Outsourcing your proposal writing, particularly for more complex tendering processes, can greatly increase your chances of a successful outcome.

?? Relationship building - the expression ‘farmer not hunter’ comes to mind. Networking and nurturing relationships with potential clients might not be instant gratification, but can lead to better conversion rates. Attend industry events, trade shows, join relevant groups and be active on social media to stay front of mind.

?? Constant improvement - refine your bidding process and strategies based on feedback and past experiences. Every failure is a learning experience, if nothing else. Keep updated on industry trends and best practices and offer the most current solutions.

?? Add Value - by offering potential clients additional services or support that complement your main offering, you can create a powerful differentiator and lead to higher conversion rates.

?? Collaborate with other businesses - partnering or running a JV with complementary businesses can be decisive when bidding on larger contracts. This allows you to offer a wider range of services, increasing your chances of winning the bid.

By implementing these strategies, you'll boost your chances of winning new business and ultimately increase the value of your business before an exit.

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