Winning Strategies
Competitive intelligence technology and general strategy tips to avoid common pitfalls, unseat the incumbent, and win the bid contract.
Proposal Color Team Reviews Explained (And How The Bid Lab Does It Better!)
The proposal color team review is a common multi-stage method of managing the development of a competitive bid, proposal, grant, or Request for Proposal response process. The system has been around forever, and a lot of big firms still use it.
How to Use AI in Bids, Proposals, and RFPs
Let’s talk about how to use AI in bids. From ChatGPT to Google Gemini, it seems like everyone is buzzing about artificial intelligence (AI). But what does a futuristic tech like AI have to do with something as classic as a competitive bid? Well, AI can be a powerful tool for streamlining your proposal process.
Outsource Proposal Writing: What Small Businesses Should Know
There often comes a time when small businesses must make high-stakes decisions. The results of these choices could change the trajectory of the company. You may be facing one of those decisions. Maybe you’re wondering whether or not to outsource proposal writing.
Using Generative AI in RFP Writing
In a panacea of business documents, one of the most pivotal to an organization’s success is the Request for a Proposal (RFP). Few documents can make your heart soar or sink like an RFP. The stakes are high for any organization that spends time creating and submitting a competitive bid. Those high stakes can make the…
5 Mistakes People Make When Copying and Pasting in an RFP
Request for Proposal (RFP) writing is crucial when your business needs to procure a specific product or service. RFP writing is a great skill to have regardless of what industry you work in. If you are trying to find the perfect content management system, a well-respected company to provide specialized education services for your school district…
Using AI RFP Solutions: Dos and Don’ts
In the 1994 episode of the Simpsons, “Deep Space Homer,” newscaster Kent Brockman wrongfully reports Earth is being invaded by giant space ants, declaring, “I, for one, welcome our new insect overlords.” The Simpsons’ writers had little idea that their quotation (a satirical nod to a classic science fiction movie directed by H.G. Wells) would…
The Pros of Hiring RFP Response Pros
To bid or not to bid. When it comes to the RFP response process, that is always the question. It’s true. The RFP response process can be daunting. It’s a challenge for almost anyone. Having to comb through the request to make sure every metric is met and wading through the red tape of bureaucracy…
Do You Need RFP Writing Services?
Many vendors will be tempted to forgo RFP writing services and undertake the entire bid writing process themselves. After all, who knows the response plan and advantages of the firm better than the people who make it possible? While this may be true, it’s important to point out that there’s an art to proposal writing….
Do You Need an RFP Consultant?
What Does an RFP Consultant Do? An RFP consultant assists companies in formulating responses that adhere to the oftentimes complex requirements of Requests for Proposals (RFPs). So, what are the differences between an RFP writer and an RFP consultant? Typically, an RFP consultant builds upon the work of the RFP writer. An RFP consultant also provides an…
The Use of Data Analytics in RFPs
As technology advances, so does the data we produce. Unlike our ancestors, we’re now capable of creating photos, videos, text files, and other forms of data all on our own. This has led to the rise of what we now call Big Data. Companies are among those who benefit from Big Data the most. Data…
Tips to Unseat the Incumbent and Win the Bid
Great news! You found a public sector bidding opportunity that aligns perfectly with your business strategy. However, there’s an obstacle between you and that award — the incumbent. Given that incumbent win rates range from 60% to 90%, it can feel like your chances of winning the RFP are as good as finding a pearl…
Procurement Solutions and the RFP Process in the Digital Age
Many people hate Request for Proposals (RFPs) – I mean really hate RFPs. And it’s tough to blame them. Oftentimes, RFPs are hundreds of pages long, requesting painstakingly detailed information about a product or service with the understanding that responses are contractually binding, pricing should be firm, and due dates strictly adhered to.
How to Win RFPs: 5 Steps to Winning Bids in Business
If you’re currently focusing on the growth stage of your business life cycle, now’s the right time to explore the world of Requests for Proposals (RFPs). RFP opportunities can literally transform your company’s growth trajectory. But, you may be intimidated because they can also seem demanding, technical and competitive. Never fear! With the right preparation, there…
RFP Business Strategy: 4 Steps to the Right RFP Response
Responding to Requests for Proposals (RFPs) can offer exciting new possibilities for growing businesses. Opportunities include expanding the scope of work (or SOW) into different industries or landing multi-year contracts with government agencies. Yet, many businesses refrain from responding to RFPs because they can be intimidating to an untrained eye. When you find a seemingly…
Tips to Win After Losing an RFP
We’re here to tell you not to lose hope after losing an RFP. Most organizations lose more bids than they win. Loopio published a survey in early 2021 that found that the average win rate for RFPs is below 50%. When they dissected the information further, they found that most respondents only won between 20%…
RFP Myths: 3 Common Bid Myths Debunked!
We’ve all fallen into the trap of believing RFP myths as facts. However, believing in these myths can cost you (read personal sleep coupled with added stress). Importantly, they can cost your business too — money, resources, and even team morale. In this article, we debunk three common RFP myths to help you gain the confidence…
Win More Bids: 10 RFP Facts That Will Help You Write Proposals
When you think of an RFP, it’s not wrong to think of completing what seems to be an endless document full of questions. It’s easy to forget that so much research, insight and careful strategy goes into developing a proposal. RFP writers are always finding innovative ways to inform their process by incorporating new trends…
RFP Response Strategy: Why Human Intelligence Is Necessary
Small and medium-sized business leaders all over the world share one common takeaway from the past year. At some point, each and every one of them has had to rethink some, or all, of their business strategy. Those who respond to RFPs in the public or private sector are no different. As everything was put…
Does the Lowest Bid Win the Contract?
Pricing. We know it makes many of our customers nervous and can even make them second-guess their strategy when preparing their proposals. After all, it makes sense. The myth is out there that the lowest bid wins the contract. The truth, however, is that all decision-makers would like to award every contract to the lowest…
Bid Response: 3 Common Mistakes When Submitting an RFP
A challenge businesses face when responding to RFPs is, well, the entire bid creation process. Technical writing, pricing research and assistance, editing, graphic design and content retention are all necessary tasks requiring substantial time and resources. If not managed properly from the start, they can lead to overlooked mistakes within the bid response. As bid…
Why Your Local Agency RFPs Matter
Each year, the federal government purchases approximately $400 billion in goods and services from the private sector. This is in addition to the state, county and local agency procurement. Together, selling to the government is a lucrative opportunity for business owners regardless of size, location or offering. As a small business, you too can vie for…
Maximize Your Chances of Winning the Bid
While 2021 has seen a lot of businesses close their doors for good, many windows have opened for the business owners of tomorrow. Maybe you’ve already created a great website, recruited valuable employees and built a solid supply chain. Maybe you’re even ready to begin exploring responding to requests for proposals (RFPs) as a way…
What’s Your RFP Strategy?
Your RFP strategy is perfect, right? Well… almost. You could be missing out on some great opportunities by not including an effective Request for Proposal (RFP) strategy alongside your other tried-and-true methods. RFPs continue to grow in popularity and are commonly produced by a wide variety of corporations, not just government entities. If your business…
RFP Automation: Debunking the Most Common Myths
With all the recent buzz around RFP automation, it’s easy to forget that automation is already an integral part of our everyday lives. Automation powers everything from smart home devices to word-processing software that checks your grammar. In the proposal industry specifically, its purpose is to simplify your RFP process, allowing you to respond to…
5 New Tech Trends Impacting How Companies Should Approach RFP Responses
In the proposal industry, automation represents a future characterized by better quality and less painful RFP responses. And we’re nearer than ever before to achieving this goal. As companies are aiming to submit more bids in a shorter period of time, they’re looking to RFP technology as a means of analyzing data, shortening man-hours, and…
How to Win More RFPs
Chances are you’ve had moments when writing a proposal where you felt like giving up. It’s hard to ‘just keep swimming’ when you aren’t sure if your hard work will pay off in the end. Wouldn’t it be so much easier if there was a simple formula for creating a winning bid? The problem with…
5 Bid Proposal Mistakes to Avoid
We all make mistakes, it’s part of being human. But, one of the most challenging aspects of the RFP process is that you don’t get a second chance. If your bid proposal is irrelevant to the project or too promotional, long or boring, your response will end up at the bottom of the pile. The…
Increase RFP Responses in a Difficult Market
If only there were more than 24 hours in a day. If you’ve gone through the RFP process before, you probably know the feeling. Developing RFP proposals to grow your business takes time, effort and lots of patience. With all the other business responsibilities you’re juggling, it can be hard to imagine submitting more responses…
How Intelligent RFP Search Saves Valuable Time for Salespeople
Think back to the last time you wrote a research paper. Perhaps you’re remembering the days of college term papers and MLA formatting. You probably spent hours in front of a computer, hoping that using just the right search terms would bring up the perfect source for your paper. If this sounds vaguely familiar, you…
Automation and Proposals: 10 RFP Tasks To Automate
When you hear the word “automation,” you may think of factory workers being replaced by robots, or reports that AI might someday take over the world. But at The Bid Lab, automation means something different. It means less work for you and an increased chance of winning your bids. And it’s all done by humans…
RFP Tips & Tricks for Your Next Response
Whether it’s your first time developing an RFP or your 50th, the potential for building a new client relationship is always exciting. RFPs are an excellent opportunity for expansion and growth by opening up new doors for your organization. You may be strengthening your ties with an existing client or hoping to capture the attention of…
RFP Responses: 5 Steps to Adapt Your Bid Response During Covid
The COVID-19 pandemic and its far-reaching effects have brought uncertainty for all. This is especially true for those working in the marketing and business worlds. Circumstances are changing daily while we strive to achieve a new normal. While the pandemic has brought about a myriad of challenges, our world has gone digital at an impressive…
Coronavirus Business Strategies from Clients of The Bid Lab
The year 2020, aka “The Year Of The Coronavirus,” began as any regular year. No one in October 2019 would have predicted the highly contagious, deadly viral outbreak within the next few months. Therefore, the circumstances of the shutdown meant organizations needed to quickly adapt to a “new normal.” So, for many, that meant adapting…
Why Your RFP Pricing Strategy Is Costing You
Drafting a compliant response to a Request for Proposals (RFP) is hard enough. But, it can be even more difficult to determine the right pricing strategy when looking to win your next proposal. No one wants to bid too high and miss out on a potentially transformative opportunity. By the same token, no one wants…
Do RFP Tools Work?
RFP tools, from automated response software to visual design programs, promise more benefits than ever before. However, crafting a winning response to an open Request for Proposal (RFP) requires these tools to be employed thoughtfully and with expertise. Luckily, there are three questions you can apply to your own proposal processes. These will help ensure…
Bid Consultants: To Use or Not To Use
While hiring a consultant may seem like an easy and efficient way to tackle the RFP process, there are a few things to keep in mind if you do choose to do so.