We know that RFPs are the number one way to choose a new vendor – so how come RFP writers are often left out of the celebrations when their hard work results in an opportunity won? In my past life as an RFP writer, I would spend hours carefully crafting RFP responses and gathering Subject Matter Expert (“SME”) input at the last hour before sending the final documents back to the requester. Weeks later, I would wonder what happened. It was rare for me to be notified if our firm was chosen as a finalist or winner. Talk about a morale killer!
So what can you do to break down this communication barrier at your organization? Here are a few tips that can help:
Share Win-Ratio Data
Do you know what your RFP win-ratio is? And if you do, are you sharing it with the rest of your organization? A focused RFP team is an effective RFP team. Avoid having your RFP writers throwing spaghetti at the wall hoping something sticks. Being armed with data about win-ratios helps RFP writers focus on the RFPs they are most likely to win.
Close the Loop!
After an RFP is submitted, be sure to inform all of the stakeholders of the status. That means that the product teams should reach out to the RFP writer or vice versa for an update. The RFP background documents often have information regarding the decision timeline so this can help let you know when it is time to check in on the status.
Include Unsung Heroes
Celebrating successful RFPs as a team, including the RFP writers, helps boost morale, motivates writers to be more productive, and reduces burn-out. Your firm most likely hosts events to celebrate new business wins, so make sure you aren’t leaving out the unsung heroes that helped submit the RFP. Work to create a culture that includes the entire team in recognizing successes.
Utilizing Catapult’s best-in-class analytics, companies are able to uncover trends in their RFP workflow to find new opportunities and help make sound business decisions. The data available to Catapult users offers insights surrounding RFP projects, team productivity, content management, and more. Armed with these powerful analytics, you can follow the right opportunities and celebrate the teams responsible for wins.