5 Reasons Why You’re Losing Tenders
In the competitive landscape of business, winning tender bids can make all the difference in securing lucrative contracts and propelling your company to new heights. However, crafting a winning bid is no easy feat – it requires meticulous attention to detail, persuasive writing skills, and a deep understanding of what clients are looking for. This is where professional tender writers like Your Tender Team come into play. With our extensive expertise and experience, we can help businesses create compelling bids that stand out from the competition.
In this blog, we will explore five reasons why you might be losing tenders and how our bid writing consultants can assist in turning those losses into wins.
Poor Quality Written Responses that Have Cost You Marks
When it comes to winning tenders, the quality of your written responses plays a critical role. Many companies lose opportunities due to poor quality written responses that fail to showcase their expertise and value proposition effectively. This can be attributed to various factors such as lack of understanding of the tender requirements, insufficient research, or simply not having skilled writers on the team.
Working with our dedicated team can improve your overall win rate dramatically. We are well-versed in crafting persuasive and compelling responses that directly address the requirements outlined in the tender document. We also have the ability to clearly articulate your unique selling points, highlight your strengths, and provide evidence-based statements that substantiate your claims.
At Your Tender Team, we have an industry-leading overall win rate of 92%. Find out more here.
You’re bidding for the Wrong Contracts
One of the most common reasons for not winning tenders is that you are bidding for the wrong contracts. It’s important to remember that not every contract will be a good fit for your business, and trying to win every tender can lead to wasted time and resources.
Instead of casting a wide net and bidding on any available contract, take the time to thoroughly understand whether the contract aligns with your business goals and capabilities. Consider factors such as project size, industry expertise required, and client expectations. By focusing your efforts on the right contracts, you’ll have a higher chance of success and avoid wasting valuable resources on bids that were never a good fit in the first place.
You may find our blog How to Decide Whether Your Business Should Bid for a Tender helpful in deciding whether a contract is right for you.
Your Costings are Inaccurate or Your Bid is Abnormally Low
It is crucial for businesses to accurately calculate their costs when submitting a tender, as any discrepancies can raise doubt in the minds of potential clients. Inaccurate costings may indicate a lack of attention to detail and undermine your credibility, causing you to lose out on valuable opportunities.
Similarly, bids that are significantly lower than those of your competitors can also work against you. While it may seem attractive to offer rock-bottom prices in order to win a tender, clients may question the quality and value they will receive from such a low-cost bid. It is essential to strike a balance between offering competitive pricing and ensuring that it adequately reflects the level of service or product you can provide.
You are Reusing Old Content and Not Personalising it to the Current Bid
While it may be tempting to save time and effort by relying on previous proposals, this approach can significantly diminish your chances of winning.
Each opportunity is unique, with its own set of requirements and evaluation criteria. By using outdated content, you run the risk of failing to address these specific needs and demonstrating a lack of understanding or interest in the project at hand. This can immediately put you at a disadvantage compared to competitors who have taken the time to customise their proposals.
Personalisation is key in capturing the attention of potential clients and showing them that you are genuinely invested in their project. Taking the time to thoroughly research and understand their goals, challenges, and desired outcomes will enable you to tailor your proposal accordingly. By showcasing how your company’s expertise aligns with their specific needs, you not only increase your chances of success but also establish trust and credibility right from the start.
You are Missing Deadlines
Meeting deadlines is crucial for securing contracts and winning tenders. When a company consistently fails to deliver on time, it not only portrays an image of unreliability but also raises questions about its ability to handle projects effectively.
When tendering for a project, clients look for partners who can meet deadlines without compromising on quality or efficiency. Missing deadlines not only disrupts the flow of work but also reflects poorly on a business’s reputation. It indicates that there may be underlying issues with project management or resource allocation within the organisation, further damaging its prospects in securing future contracts.
Steps to Improve Your Tender Bid Success
Improving your bid success is crucial for the growth and success of your business. By taking proactive steps to enhance your bidding process, you can increase your chances of winning valuable contracts and expanding your portfolio. Partnering with Your Tender Team can provide you with the expertise and support needed to navigate the complex world of tendering. Contact us today on 0116 218 2700 to discuss your specific requirements and receive a free, no obligation quote.