In the competitive public sector, the difference between success and failure hinges on a number of variables, each changing depending on the project, buyer and more.
For this reason, many businesses find themselves on the losing end, simply because they lack a solid bid strategy. While the projects you’re bidding for may change, having a strong bid strategy can help your business win much more often for several reasons.
Efficient Resource Allocation
A well-defined bid strategy can help your business allocate resources more effectively. Knowing which locations to focus on, which public sector organisations to target and understanding the competitive landscape allows you to concentrate your efforts where they are most likely to pay off.
For instance, focusing on local supply can provide logistical advantages and stronger relationships with clients, which are harder for distant competitors to match. Additionally, by targeting specific public sector organisations, your bids can be more tailored and relevant, increasing the likelihood of success.
This helps you avoid the trap many suppliers fall into of bidding for any semi-relevant project, instead of focussing on the ideal opportunities that are published.
Improved Win Rates
The businesses that consistently win contracts often follow what we call a SMART (Specific, Measurable, Achievable, Relevant and Time-bound) approach. This method does not just apply to writing the bid but encompasses the entire process from preparation right through to contract delivery. By having a SMART bid strategy, your business can set clear, attainable goals and measure progress effectively. This ensures every bid is aligned with your overall business objectives.
Being specific about the types of contracts you pursue and setting measurable benchmarks allows you to track your success and refine your strategy continually. As businesses do this, it’s quite common for them to see more wins than before.
Consistent Success and Growth
A robust bid strategy transforms your bid efforts from occasional wins to consistent success. By incorporating best practices at every stage—pre-bid, bid and contract delivery—you create a repeatable process that can be refined and improved over time. This consistency not only enhances your chances of winning more bids but also builds your reputation as a reliable contractor, which can lead to more invitations to bid and better client relationships.
We see this snowball effect all the time among our clients who have grown in their bidding abilities and successfully utilise their polished bid strategies. Whether it’s an important framework you’re looking to get onto or a certain supplier you want to work with; more wins often follow wins.
If you think you might need some extra help to get your business to where it needs to be, bid-wise, email Winning Tenders at info@winningtenders.com or call us at 01392 247997. We are a small and personable, award-winning business with a wealth of experience and knowledge. We offer bespoke solutions for any size of business.