Proposal strategy development forms an integral part of the process of creating a business proposal. An award-winning proposal strategy is one that ensures the client's demands are met. As an entrepreneur, to grow your business, you need to learn the newest proposal strategies that have proved beneficial to other businesses. A business proposal is one of the most imperative documents for any business that needs to be successful. This article will take you through the top proposal strategies that will help you when writing your proposal.
Must Consider Strategies
1. Financial Strategies
Proposals are normally evaluated using a specified system depending on the prospects goals and objectives. The key aspects of any evaluating system include the price, performance index and return on investment (ROI). It's advisable to quote a price that's realistic. Also, don't quote a very high price. The performance index of the company is estimated by checking the amount of money the company puts into a single project. In your proposal, it's good to highlight every aspect contained in your past contracts so that the review team can calculate to detail your performance. Return on investment is probably what would seal or break a deal. In your proposal, give an accurate estimate of the possible ROI the company would get if they were to offer you the contract. You need to draw a simple graph that showcases costs on one side and the corresponding returns on the other side. Choose the point in the graph where the company will get the maximum profits.
2. Tech-Based Strategies
Most business owners tend to ignore the technical aspects of a proposal because of one reason or the other. The experience, performance and the knowledge of your technical team play a crucial role in ensuring that the project is accepted. Your team needs to demonstrate superior knowledge in the decision-making process. Express in a concise manner what your technical team can provide for the prospect apart from just the usual practices. The key here is to ensure that your proposal is prioritized to those of your competitors. Take some inspiration from https://www.entrepreneur.com/article/21834 on how you can make a good proposal tailored towards the prospect's needs. For instance, as your competitors submit their proposals through the normal traditional processes, you can try to submit yours through an online system. This will surely make your proposal unique and worth considered for the contract.
3. Qualitative Aspect Of Your Strategies
The reliability of your firm as expressed in your proposal can determine whether your proposal will be accepted or not. You can easily be selected for the contract if your proposal presents your company as a credible one. Quality generalizes the financial and technical aspects of the proposal.
The Winning Strategy Matrix
Coming up with a great proposal strategy is all about identifying the criteria your potential client will use to evaluate your proposal. Therefore, your proposal development strategy should be geared towards demonstrating superiority in every aspect. The most effective strategy that will win for you a lot of contracts is one that is created around those principles your technical team believe the prospect will use to decide which proposal will meet their specifications.
A good proposal that stands a better chance of being accepted should be created based on a mixture of various factors. Your team should have a clear knowledge of the client’s expectations and the criteria they will use to select the best proposal. As per https://smallbiztrends.com/2013/08/strategic-planning-small-business.html, you need to identify the strengths in your proposal and try to eliminate those areas that can compromise the most important aspects.
Think about the questions that the prospect would ask after sifting through your proposal. Consider all the people who will be involved in the evaluation process. What orientation will they have? Your priorities should be based on the technical, qualitative and credible aspects the potential client is trying to find out. Explore your strengths in these fields so that you can emphasize on them in the proposal. Provide a solution to the problems of the potential client. Cross-check your solution, cut out the weaknesses in it and add more aspects that would make it stronger.
Lastly, think about your competitors. Proposal strategy development is all about dissolving the strengths of your competitors. The best way to outshine your competitor is by being different. And that translates to being innovative, affordable and credible.
Using ClientPoint Strategy To Outshine Competitors
Now that you’ve learned various ways that can help you create a more useful and professional proposal, you also need to learn the best way to create your proposal. Probably, your business spends about 4 to 10 hours a day to complete writing a single proposal. Take a case where you have a series of proposals to write, it will not only take a lot of time but also a significant amount of the company’s resources to create them. Because you want to respond to as many proposal requests as possible, your team will be overworked and the end result is poor quality proposals
What your company needs is a proposal development and management system that would ease the proposal creation process. With such a system, you’ll be able to save time and resources and most of all, you’ll be able to track your proposals online. You need a cloud-based proposal management system that will enable you to create an accurate, consistent and thorough proposal. ClientPoint enable your company to create unique, professional and systemized proposals that are far much better than those of your competitors.
In short ClientPoint does the following for you:
• Saves you valuable time and resources
• Automates the proposal creation process
• Enables your company to create very attractive professional designed proposals
• Gives you an edge over your competitors
• Enables you to seamlessly track all your proposals
• Connects to your CRM
Whether you’re in the process of creating a solicited or an unsolicited business proposal, the aforementioned strategies are practical and will propel your company to the next level. Pay attention to each one of them and you will see great results.
Reference:
https://blog.bidsketch.com/articles/how-to-write-a-business-proposal/
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If you really want your business proposals and contracts to stand out and give you the best chance at winning new clients, use ClientPoint Software. It makes creating and formatting professional business proposals, quotes, and contracts fast and easy. Click here to get a free demo of ClientPoint Software or call us at 888-972-7375.
Click here to read a case study of how ClientPoint Software helped a business double sales.
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