Bidding competition is becoming increasingly fierce. Given Korea's characteristics, such as the high volume of public projects and the large proportion of large corporations, bidding competition is an inevitable hurdle regardless of the business sector.
When participating in bids, you may inevitably face the bitterness of elimination. However, the reality is that it is difficult for small businesses or startups to identify the specific reasons for their failure and make improvements.
Focus on the following 7 points for your bid proposal.
Therefore, Team PPT, a team specializing in business presentations, has compiled 7 common tips for creating effective bid proposals recommended by domestic and international experts. If you have experienced past bid failures, please use the information below to identify the causes and areas for improvement. We also wish you success in your upcoming bids.
1. Identify the hidden needs of the person in charge.
Understanding the context of the organization and person in charge hidden within the Request for Proposal (RFP)
Did you create a proposal that adhered only to the requirements set forth in the Request for Proposal (RFP)? You might have been too naive.
Every organization is bound to have circumstances that cannot be disclosed externally. Procurement projects are no exception. There are bound to be hidden needs of the organization and the personnel involved that cannot be officially listed in the RFP.
Sometimes, aspects not evident in the documentation—such as decision-makers' subjective preferences, prior careers and experience, the biases of those in charge, internal organizational circumstances, and industry characteristics—are more important. An RFP can be just the tip of the iceberg.
When initially planning a bid proposal, you must thoroughly consider the 'opponent's perspective.' Step back from your own obsession with winning the bid and carefully examine the position and context of the counterparty overseeing the project.
2. Did you faithfully fulfill the requirements?
Strictly adhere to the Request for Proposal (RFP), especially for public tenders such as the KONEPS
Managers in charge of securing contracts unanimously agree, “When we receive bids, there are more proposals than expected that do not adhere to the requirements of the RFP.” The reason the track record and confidence of the companies. Competitors also possess their own expertise and successful track records, and many have previously successfully executed similar projects.
If you emphasize this too much, you may end up repeating existing content, which could lead to a discrepancy with the RFP. Since officials at public institutions expect strict adherence to the requirements clearly stated in the RFP, analyzing and complying with the RFP is paramount in public bidding.
3. Clearly present our company's unique core values and characteristics.
A USP is needed that emphasizes strategies differentiated from competitors and success stories
The recipient of the proposal wants us to clearly answer the question, "Why should they choose this company?" To reduce the burden on the person in charge and enable a clear report to upper management, we must clearly organize our own Unique Selling Proposition (USP) and include it in the proposal to emphasize it effectively.
To do this, it is necessary to identify the competitors participating in the bid and closely analyze their key strategies and past success stories. We must be able to pinpoint a distinct USP that differentiates us from our competitors.
💡What is a USP (Unique Selling Proposition)?
the core values or features that differentiate our product or service from competitors. A USP is an element that clearly demonstrates why customers should choose a specific product. To effectively showcase a USP, you must sharply define the product's unique advantages, special benefits offered to customers, or strengths that differentiate it in the market. Furthermore, you must find the optimal expressions and communication strategies to emphasize the USP most effectively.
4. Did you sufficiently demonstrate your project management skills?
It is important to emphasize extensive experience and even prepare a risk management plan
In bid proposals, demonstrate project management capabilities. Representatives from public institutions and large corporations tend to be extremely wary of the possibility of risks arising during a project. Experienced decision-makers understand from experience that unforeseen variables are inevitable and place great importance on the ability to prepare for and manage unexpected situations.
Therefore, we must enhance credibility by demonstrating our project management framework, risk management plan, and prior experience. It is also advisable to include communication strategies, such as how we plan to communicate with the responsible organization during project execution, and how frequently we will report and seek feedback.
5. Let's clarify the basis for the budget and timeline calculations.
Honesty and sincerity that must be evident in the bid proposal
To win the competition, it is important to propose measures to minimize costs as much as possible. Budget and time are the most representative costs, and proposers also consider them important.
However, to appeal that you can reduce the budget and advance the deadline compared to competitors, you need more meticulous grounds.
We must provide specific figures and the basis for calculations demonstrating how costs can be reduced. We must also explain why the timeline can be shortened, identify any other variables involved, and demonstrate whether they are manageable. Experienced decision-makers who have executed numerous large projects have hinted that they place great importance on the 'honesty' and 'sincerity' of bid proposals.
6. Do not use presentation design 'templates'.
Template forms, inability to create storylines tailored to the target audience
There are many cases where the design of the bid proposal is the reason for rejection. In competitive bidding, PPT design is just as important as the content. For this reason, many people create PPTs using paid or free templates, but this is viewed negatively by the managers.
To win a competitive presentation, you must capture attention and keep the audience focused with presentation materials where content and design align. Additionally, a design that considers the on-site situation, such as the audience and venue, is also important.
However, using template forms makes it difficult to customize the design and structure the storyline for the target audience. Furthermore, since most templates have standardized storylines, our unique differentiators also fail to stand out.
7. Internal review alone is insufficient.
Work is needed to improve the completeness of the proposal from an objective perspective
The key to preparing a bid proposal is 'objectivity.' It is essential to consider the perspective of the recipient and to go through a review process while producing the proposal from an objective standpoint.
If we produce a proposal solely with internal personnel from our company or team, it is difficult to create and finalize it with a thoroughly objective perspective. There is a risk of becoming fixated on our own strengths and experience, and there are many cases where the quality is actually compromised due to repeated fine-tuning during the production and finalization stages.
Bidding typically accounts for a significant portion of our company's or department's annual revenue. Given the importance of these projects, it is advisable to seek the assistance of external experts with extensive experience in proposal planning and production.
A 'strategic' perspective is essential for bid proposals.
When commissioning production to external experts, it is advisable to find a partner who can handle not only the design but also the strategic analysis and planning of the project.
Especially since bid announcements are often issued on short notice, you need to find a 'strategist-type' outsourcing team that sticks close like a team, quickly grasps the situation, and creates the optimal customized design.
Join Team PPT's customized presentation know-how.
Team PPT thoroughly researches and studies a client's business, then produces presentation materials with a storyline designed to maximize impact. This is possible because Team PPT is comprised of personnel who have handled numerous business presentations within the corporate strategy sector.
Become a member of a corporate bidding team and support the success of bid proposals
If you have a dedicated bidding team, we provide rapid support for necessary aspects, such as design, so that you can focus on the essence of the bid. If you do not have a team, we assist with the entire process, from proposal planning to design. Furthermore, we work together to create a successful bid proposal by identifying the core elements of the Request for Proposal (RFP) through our analysis solutions.
Entrust the creation of your bid proposal to Team PPT, which has successfully executed over 300 projects in just three years since its founding, including the 2024 Paris Olympics D-100 event, for large corporations, public institutions, and startups.
We create differentiated proposals that are impossible to find elsewhere.
Curious about the know-how to create bid proposals that increase your chances of winning, from public tenders to competitive bidding?
Check out the story of Team PPT, who planned 300 business presentations!
For bid proposals to grow your business,
work with Team PPT.
