Reasons Why Your Business Should Bid for Tenders
When we speak to new customers who want to bid for a tender, one of the first things we ask them is whether they have ever done this before. Mostly it’s to make sure we’re not telling them things that they already know, but we also like to understand why they’ve never tried bidding in the past.
Some of the reasons they give us are that they don’t have the time and resources to dedicate to a bidding process that they might not win, that the tender writing process itself takes too long, and that they never win bids, so why waste times pursuing them.
While these are all understandable reasons, they sort of miss the point when it comes to bidding for a tender. There are so many advantages to this particular model that really offset the time and effort that goes into a bid. Here at Your Tender Team, we have helped many clients take their first steps into the world of tendering and have shown them the many benefits of doing so.
These are just some of the reasons that you should do the same.
The buyer already wants your service
While writing a bid for a tender does take time and effort, at least you know the buyer has a need for the service you provide. Touting for business independently means finding potential clients and convincing them that they can benefit from using you and your company. With a tender bid, you’re singing from the same hymn sheet from day one.
Clearly defined dates
We’re not going to pretend that every tendered project runs according to schedule, but at least you have some idea of the timescales. This allows you to fit other projects around your tendered gig and vice versa. When pursuing work through other methods, some clients might expect you to start immediately, others might leave you dangling for weeks or months on end. Either way, it makes it difficult to manage your schedule.
Money is in the bag
Any project that goes to tender will have had it budget allocated accordingly, so you know the monetary constraints within which you have to work. This means you can offer great value for money while still making a profit, rather than having a client haggling to get your fees lower and lower.
Understand your value
We don’t just mean in terms of hard cash here. The tender writing and bidding process lets you put into words what you have to offer clients – and the buyer in question. By seeing the expectations of the tender, you can also see whether you are charging too little (or too much) for projects in a similar vein.
Know the business
Being able to look at tender documents lets you understand how businesses are prioritising their budgets. It also helps you identify trends within your industry. If certain types of project are proving popular, you can tailor your service descriptions and your website content to reflect that you handle those jobs, making you an attractive prospect to non-tendering clients in the future.
If these reasons have convinced you to bid for a tender, then you’re in the right place. Get in touch with Your Tender Team today on 0116 218 2700 and arrange a free consultation with one of our experienced professionals. We will walk you through the tender writing and bidding process and how it can benefit your company, as well as how we can help you make the most of it.