This was a quote from a senior partner in the Big Four about how Beacon qualifies and just as importantly disqualifies RFPs. Companies consistently struggle with dumping RFP situations into at least 3 “buckets” to determine the type and style of qualification. In fact, there are 10 easy questions that can be asked and weighted to stratify RFPs and then look very objectively at the win probability as well as the general course of qualification required.
Is it winnable? Really? So many times we see companies chasing RFPs because they have extra people on the bench. So they chase deals that are virtually unwinnable so that they can show their interest to the client. While there are conditions under which this strategy can be beneficial to open other doors, it is the exception not the rule.
Also the cost can be enormous. The best run companies will actually provide the “on-the-bench” employee with other client facing opportunities which will not only enhance relationships but lead to the development of proactively developed deals that can won non-competitively.
Based upon the best practices Beacon has documented, your proposal win rate should be consistently above 70% in the complex services sector and your non-competitive win rate (no RFP) above 50%. If you are not hitting those types of number in the RFP/proactive win arena, you may want to revisit your qualification and disqualification process around RFPs.
Contact Beacon Worldwide to learn more about qualification sales training.