New Resources for Winning More Competitive Bids
A range of new support services from Adaptation Ltd could help most companies to increase their bidding win rates by adopting more of the critical success factors identified by a winning business research team led by the company's chairman Prof. Colin Coulson-Thomas.
According to Prof. Coulson-Thomas, “A wide gulf exists between winners and losers. They exhibit very different approaches to bidding.” His investigation reveals why some companies are more successful than others. Studies undertaken cover sectors such as construction, engineering, manufacturing, IT and telecoms, and seven professions ranging from lawyers and accountants to engineering and management consultants.
Speaking in London, the Adaptation Ltd chairman explained, “Winners are confident and proactive. They identify and approach prospects that would make good business partners, and ruthlessly prioritise available opportunities. Turning down some invitations to bid allows more effort to be devoted to those retained.”
Prof. Coulson-Thomas believes most companies could increase win rates by adopting more of the critical success factors set out in a Winning New Business resource pack his team has produced: “Many of the changes required can be quickly made. Winning or losing is increasingly a matter of choice.”
Coulson-Thomas finds that winners “enter their prospects’ worlds and focus their responses and structure their proposals around prospect priorities and selection criteria. They understand the value and benefits sought by prospects, their business environment, cost of ownership issues and factors they consider when buying.”
The winners are better at differentiating, personal relationships and establishing the superiority of their offerings. According to Coulson-Thomas, “they excel at every stage from being invited to bid, through offering support, to negotiating a contract. They understand their prospects’ purchasing processes and the roles played by different individuals within them.”
Coulson-Thomas points out that “winners remain sensitive to changing buyer concerns throughout the purchasing process, and work hard to build empathy and trust. They regularly review their processes and practices, and learn from both successes and failures.”
Coulson-Thomas concludes: “Even those who win more than three out of four of the competitive races they enter - are only very effective at less than half of the identified critical success factors. There is enormous opportunity for most businesses to significantly improve their ‘hit rate’.
‘Winning New Business’ the four-part best practice resource pack produced by the investigating team is published by Policy Publications. The pack consists of a report based on the experience of over 300 companies, a report on the top 20 winning business skills, 30 bidding tools and a CD-Rom containing these items and other resources.
Details of the ‘Winning New Business’ resource pack, winning business reports covering individual sectors and seven professions, and related workshops offered through Adaptation Ltd can be obtained from http://www.winningnewbusiness.biz/
Companies can also now compare their practices with their peers and high performing winners. Details of bespoke benchmarking and other services offered by Prof. Coulson-Thomas and his Adaptation colleagues can be obtained from http://www.ntwkfirm.com/policy-publications/benchmarking.htm
Prof. Colin Coulson-Thomas the Adaptation Ltd chairman has personally reviewed the processes and practices for winning business of over 100 companies and presented at events in 35 countries. He can be contacted by Tel: + 44 (0)1733 361149 or via www.adaptation.ltd.uk