There is a lot involved in formulating a quality bid. Below are 20 tips for builders that will help you win your next tender.
If the client has given you specific tender documentation, use the templates you have been provided with as the client may have their own reasons to do comparative measures.
Tenders include response forms which set strict word limits, and ask questions geared towards seeking ideal responders. Make sure you read any prompts and instructions before you set pen to paper.
A strong indicator of success is the extent of your existing relationship with the client's organisation. Attend industry events, network on LinkedIn, and use your professional relationships.
The answers you submit on response documents should be clear and brief. Add visuals such as diagrams, graphs, or illustrations, where they assist in conveying more involved ideas.
Each company have their own set of selection criteria, your job is to read between the lines. Think about how questions are worded, and anticipate what kind of answer the client hopes to see. Also try to be succinct and direct in your responses to the criteria. Readers will become frustrated with responses that are convoluted or poorly address their needs.
Consider the required and expected details in tender documentation. Often they will request information including your ABN, insurance details, pricing tables, and intellectual property rights. Material such as your company profile, capability statement, any proposed changes to conditions, and contracts may not be explicitly asked for, however are often an indication of a powerful bid.
Make sure you have the correct spelling of any company names you may be addressing in the tender, as well as their correct titles. You would be surprised by how many bids spell the name of the company wrong, while they are concerned with other aspects of the tender.
There are many elements in a bid in need of signature, one of the most common tender mistakes is failing to sign sections, or signing bids incorrectly. Some companies have strict instructions for signatures, including initialing adjustments, supplying signatures from witnesses, or signing across entire pages of documentation. Check everything is signed correctly before submitting your tender.
Testimonials come from endorsements on LinkedIn, Google reviews, and professional statements on your company website. Characteristics of a professional reference include an accompaniment of a photo, job title, and contact details, and originates from credible sources. Always ask permission from your client, to display their testimonial.
Estimating for tenders can be time-costly. Construction estimating software like Cubit is widely used in the industry to create accurate budgets and estimates. Software for builders is becoming increasingly necessary in the digital age. Tenders that guess prices or provide vague estimates will not be taken seriously by clients.
Is the price right? If you are unsure whether your quotations are too high or too low, it’s time to invest in construction estimating software. Various factors must be considered when writing up a budget - company research, market intelligence, competitor insights, as well as your own internal financial constraints. Software for builders makes it easier to consider numerous factors, so that when it comes to justification, you are prepared.
Before you make contact with a prospective client, it’s important to conduct your own research. Use your researching skills to find out everything you can about the company’s market, organisation, team, and affairs. Sometimes you will need to use your network to gain relevant insights.
Every company should have a central idea running through all areas of business, which is usually communicated through the company or product tagline. Common objectives are quality, trust, or innovation. Find yours by thinking about what lies at the heart of your business.
Research what sets you apart from your competitors; this is what stands out the most when tender documentation is being compared. Point of differentiation is all about distinguishing how your services positively differ to those of your competitors.
Editing your tender is a crucial step before submission, and should not be left to the last minute. Spend time looking for spelling and grammatical errors, and try reading out loud to reveal sections that need revised. If you’re not confident in your ability to proofread, ask a coworker, use programs with spell check, or hire an editor.
If you have been asked to submit materials alongside tender documents such as a cover letter, company statement, or title page, it’s important to review your current design features. A company logo, letterhead, and aesthetic considerations will go a long way in appearing professional.
Proper time management is crucial to the success of your bid. Software for builders assists in keeping to a strict schedule, allowing you to set your own deadlines, keep on top of the workload, and allow time to dispatch your tender early.
Your tender should be sent to the client early to allow for possible time delay and unforeseen occurrences. If you are submitting your bid online, consider the chance of network errors.
If you’re not winning tenders, assess your current processes, approaches, and situation. When something isn’t working, it’s generally time to take a step back and think about what is going wrong. Don’t be afraid to ask for feedback when you are unsuccessful, so you can find out exactly how you could have improved your bid.
Your bid begins the moment you reach out to your prospective client, so make every email and call count. Build value and rapport from the very first exchange and ask questions that can assist you in writing a better tender. Sometimes a client may simply like you or trust you, and will give you a chance.
For more tender advice, including a tender checklist, enrol in our popular Building a Better Trade Business eCourse today:
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