Should you bid for a new opportunity when no prior relationships exist?
Sales professionals frequently face the dilemma of whether to bid for a new opportunity when no prior relationships exist.
On the one hand, there’s the risk of wasting time and resources if the client already has a supplier in mind.
On the other hand, the client may genuinely be open to new suppliers and innovative offerings.
Sales methodologies often emphasise the importance of building relationships, having a ‘coach’ and influencing the requirement specification well before the procurement begins.
However, this isn’t always possible. Sometimes, significant opportunities arise unexpectedly, leaving sales professionals to decide if they should take a punt.
Some of the deals we're most proud of were won without prior relationships. Here are the key qualification points we use to determine whether to bid:
1. Client’s Desire for Change: Look for signs that the client wants something new or different. This can be inferred from their tender language, recent market activities, or changes in their strategic direction.
2. Presence of a Change Maker - Identify a change maker within the client’s decision-making team. This individual can champion innovative solutions and influence the decision in your favour.
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3. Opportunities for Interaction - Assess whether you can interact with the client during the tender process. Open communication can provide valuable insights and a better understanding of their needs and expectations.
4. Sacrifices Required - Consider what you would need to sacrifice by bidding for this opportunity. This includes time, resources, and the potential neglect of other opportunities.
5. Learning Opportunities - Even if the bid isn’t successful, the process can offer valuable insights that improve future bids. Each bid provides information on the client’s preferences, the competitive landscape, and areas for improvement.
6. Future Profile Building - Bidding can raise your profile for future opportunities with the client. Even if you don’t win, a strong bid can leave a positive impression and position you as a viable option for future projects.
7. Resource Availability and Buy-In - Ensure that you have the necessary resources and internal support to deliver a top-quality bid. A half-hearted attempt can be more damaging than not bidding at all.
By carefully considering these points, sales professionals can make more informed decisions about when to take a punt on a new opportunity.
What criteria do you use when faced with a similar decision? What buyer perspectives can you share that might help others in this predicament?
R&D Director Personal Health Care, P&G | Consumer Insight | Product Innovation | Product Story Telling
5 个月Wonderful list. When you can demonstrate several on the list, it displays your motivation and passion on new relationship, that it possibly changes the perception from buyer side.
Personally, I think its always good to make the time to make the bid unless you know for sure they have the VOC selected. I was lucky to have a few products up my sleeve that no one else was promoting and in many situations that was a game changer, even when they didnt know they needed what I was selling. but it worked out quite often. Getting in early is best, but ASAP can also work out.
Great list. Especially nr 2 underlines the importance of changemakers. We can analyse the systems - but it’s always the people driving the change