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How to write a letter of intent to bid: Tips, examples & template

How to write a letter of intent to bid: Tips, examples & template

Selling & Enablement

If you regularly respond to RFPs, you have probably encountered buyers who ask you to submit a letter of intent […]

Category: Tag: RFP strategy

How to write a letter of intent to bid: Tips, examples & template

How to write a letter of intent to bid: Tips, examples & template

Selling & Enablement

If you regularly respond to RFPs, you have probably encountered buyers who ask you to submit a letter of intent to bid as part of the response process. While this step in the RFP process is far from universal, it’s important to understand the purpose of the intent to bid letter. Additionally, you can use it as another positive touchpoint for prospective buyers.

Whether you’re responding to a buyer that requested a letter of intent and need guidance, or you’re simply looking for new ways to engage with buyers earlier in the RFP process, you’ll find what you need to know here.

First, in this post, you’ll learn the basics about the letter of intent to bid including what it is, who uses them and a few of their benefits. Then, I’ll offer some quick tips about how to write a letter of intent. Finally, I’ll share sample letters of intent to bid and an intent to bid template.

Just need the template? Download now.

What is a letter of intent to bid?

Letter of intent to bid definition

A letter of intent to bid is a formal way for prospective vendors to communicate their plan to submit a response or bid to a request for proposal (RFP). Often, a buyer requests or requires a letter of intent from interested vendors as part of the RFP process.

A small distinction: Letter of intent to bid vs letter of intent

The letter of intent or letter of interest, abbreviated as LOI, has other applications outside of the RFP and sales process. For example, job seekers, grant applicants and legal agreements may also use letters of intent. So, be sure to understand the context of the LOI request before responding.

Who uses the letter?

When The letter of intent to bid can be requested by an RFP issuer (buyer) or offered proactively by a RFP responder (seller or vendor). The document isn’t exclusive to any particular industry. However, you’ll find it most often in government, legal, education and construction RFPs.

When required by a buyer, the procurement manager in charge of the RFP is the person who requests, receives and reads the letters. On the other hand, when offered proactively, the letter of intent to bid is written and submitted by the proposal manager.

What is in the letter of intent to respond?

The intent to bid letter is usually very brief. Indeed, it follows the standard business letter format and fits on a single page.

Your letter of intent to bid should include:

  • The name of your company
  • Name of the proposal contact
  • The name or reference number of the RFP you’re responding to
  • A clear statement of your intention to submit a proposal
  • Your sign off and signature

In addition to the above, you may choose to include more information. For example, you may wish to offer a brief statement about why you believe you’re a fit for the business. You may also highlight your relevant experience or confirm that you meet or exceed the minimum RFP requirements.

In many cases, if this step is part of the process, the buyer will provide a letter of intent to bid template that outlines the information they require. You can see examples of this later in this blog.

When is the letter of intent due?

If an RFP requires vendors to formalize their intention to bid (or decline to bid), the deadline will appear in the RFP timeline. Typically, this step happens after vendors receive answers to any follow-up questions or points of clarification during the Q&A period.

On the other hand, if you’re sending an intent to bid letter as a courtesy (when it’s not required by the buyer) you have more flexibility. In this case, you should send the letter as soon as possible after you’ve done your bid/no-bid discussion and made a decision. Ideally, this is at least two weeks prior to the RFP deadline.

Benefits of the intent to bid letter

You may find yourself wondering why anyone would require a letter of intent to bid. Why add one more step to an already long process? Well, there are a few reasons why an intent to bid letter is a good idea.

1. Ensures sufficient interest and competition

Many organizations have procurement policies that require three valid bids before making a purchase. The letter of intent to bid enables buyers to ensure that a project will have sufficient vendor participation to proceed.

If a buyer doesn’t receive enough affirmative letters of intent to bid from vendors, they may reevaluate the project, even if they have a qualified, under-budget bid. They can extend the RFP invitation to additional vendors, find out why vendors chose not to respond or they can put the project on hold.

Essentially, the letter of intent saves a procurement manager weeks of waiting and hoping they’ll have the necessary number of bids when the RFP deadline arrives.

2. Defines and streamlines communication paths

The purpose of an RFP is to exchange information between buyers and sellers in an organized way. In an ideal world, the process would be straightforward. However, in the real world, it’s rarely that simple.

It’s not uncommon for a buyer to have a few updates after issuing an RFP. For example, there may be amendments to the requirements, changes in scope or clarifications of the RFP questions. In this case, the buyer needs to know who to contact.

Thanks to the letter of intent, they know exactly who to reach out to. Not only that, but the procurement manager avoids sending unnecessary emails to suppliers that have indicated they will not be submitting an RFP.

3. Enables a faster RFP evaluation process

After the intent to bid deadline, the response period begins. While you and your team write a winning RFP response, the buyer begins preparing for the RFP evaluation process.

Because they already know the number of participating vendors, the procurement manager can prepare more thoroughly. For example, they can set up proposal scoring and prepare guidance for stakeholders.

Faster evaluation means faster results. So the buyer can award the contract and you can win business faster.

Tips for how to write a letter of intent to bid

As we’ve discussed above, you can use the letter of intent to bid in two situations: either to meet the stated RFP process requirements or as a proactive courtesy to the buyer.

Sometimes, if a buyer requires an they provide a template to ensure they receive the same information from every vendor. In this case, simply fill out the provided document and resist the urge to add more detail.

The letter of intent to bid template is usually included at the beginning of the RFP or as an attachment at the end. However, if the buyer doesn’t offer a template or you wish to create a letter of intent to connect with the buyer, there are a few things to keep in mind.

LOI best practices

• After your decision to bid or not to bid, write and send the letter as soon as possible.

• It’s best to address the letter to the procurement manager or company contact specified in the RFP. Try to avoid a generic greeting like, “To whom it may concern.”

• Begin the letter by clearly stating your intention to bid and basic company information.

• Include contact information for the person who will manage the proposal process. This is the person the buyer should contact if they have questions, need more information or want to begin negotiations.

• After addressing the necessary information, consider including brief statement on why your company is the right fit for this opportunity. In addition, you could briefly mention past successes, differentiators, references and expertise.

• Remember, keep it short. Save the details for your RFP response.

• Avoid asking follow up questions, because they’ll likely get overlooked if you include them in the body of your LOI.

• Apply RFP response best practices to your letter: be concise, use active voice and review for grammar and spelling.

• Conclude your letter by expressing gratitude for the opportunity and offering any necessary assistance.

Letter of intent to bid samples

Now, if you’re considering adding an LOI step to your proposal process, you may want to see some real-world examples. Below you’ll find a few samples of letters of intent requested by a buyer. Then, you can compile your favorite parts to create your own template.

Customizable letter of intent to bid template

This letter of intent to bid template in Word offers quick instructions and customizable fields. Additionally, it follows the format and best practices mentioned above and can be used for any RFP response. Get a head start on your next letter of intent by downloading it now.
 
Letter of intent to bid template preview from RFPIO
 

Construction letter of intent to bid sample

This letter of intent template, provided by Hard Hat Hunter, is specific to the construction industry. It is very short and to the point with just the basics: the vendor’s information, the project name and when the buyer can expect to receive the RFP response.

Employment agency letter of intent to bid template

Contact information, the name of the RFP and an acknowledgement of the RFP criteria are included in this sample letter of intent to bid. Offered by Golden Sierra, it is tailored to an employment and job training agency.

Municipality letter of intent to respond form

In this letter of intent to bid example, from the city of Seabrook, New Hampshire, the city asks that all vendors respond. Consequently, the form allows vendors to select their intent to submit nor not submit a bid.

Ultimately, sending a letter of intent is just one more way to connect with and serve your potential customer. When competition is tough, every gesture matters and clear communication is crucial.

For organizations that use Responsive RFP software, creating consistent, memorable letters of intent to bid can be done quickly using templates. Automating this process is a great way to save time while also increasing your engagement with buyers.

Bid or no-bid decision guide: Save time & improve RFP win rates

Bid or no-bid decision guide: Save time & improve RFP win rates

Selling & Enablement

For organizations focused on growth, answering every RFP is tempting. After all, each one represents an opportunity to win new business and generate revenue. However, not every RFP is created equal. And in some cases, responding to an RFP may not be the right move for your organization. So, how do you know the best way to spend your time? How do you separate promising RFP opportunities from those that are unwinnable or unwise? The answer is to add a bid/no-bid analysis step to your RFP response process.

The RFP response process requires an enormous investment of time and resources. Naturally, it would be best if those efforts were only focused on responding to RFPs that your business is sure to win. While there’s no way to ensure you win every RFP you respond to, you can quickly improve your win rate and save time by making a thoughtful bid or no-bid decision.

In this post we’ll discuss why carefully deciding to bid or not to bid is so important. Then, we’ll share three approaches to help you make a confident decision. In addition, we’ll offer key questions to ask and bid or no bid checklist examples. Finally, we’ll explore how to share your decision to bid or not to bid with the buyer along with letter templates to help you get started.

Table of contents

Download the bid or no-bid checklist now.

Basics and benefits using RFP go or no-go analysis

Bid or no bid defined

The process of evaluating whether to bid or not to bid goes by many names but is primarily referred to as the bid/no-bid or RFP go/no-go decision. Simply put, in bid and proposal management, the RFP go or no-go process is a way to evaluate internal and external factors to determine if an organization should bid on an opportunity.

Benefits of holding go/no-go discussions

Responding to RFPs can win new business and help your organization grow, so why not just respond to all of them? Here are a few reasons why carefully considering which RFPs to bid on is important.

Lighten proposal team workloads and avoid burnout

Creating a winning proposal takes a lot of thought and time. So, creating a proposal for every RFP will inevitably result in wasted resources, a low win rate and an overworked, undervalued proposal team. In fact, a recent survey by Mairi Morrison with Strategic Proposals revealed that 62 percent of proposal professionals feel that their workload and volume of work are their greatest stressors.

A more selective and precise go/no-go process could significantly relieve the burden on proposal teams and prevent burnout. Bob Lohfeld, the CEO of Lohfeld Consulting Group has more than 30 years of experience in proposal management. In a Washington Technology article Lohfeld discusses the importance of RFP go or no-go decisions and believes they are the best way to improve your win rate saying:

“It is far quicker than hiring better people, improving poor proposal processes or investing in capture and proposal technology. In fact, making better bid decisions brings about an immediate improvement in win rate and, as an added bonus, lowers your annual cost of proposal development.”

Invest time wisely and improve win rates

Certainly, working strategically, improving your win percentage and reducing the cost of creating proposals is always important. However, making smart bid decisions becomes absolutely crucial when faced with big revenue goals. Despite this, many businesses seem to suffer from the fear of missing out when it comes to RFPs. Consequently, they spend resources and chase opportunities that aren’t a good fit. Lohfeld reframes the decision like this: 

“Contrary to popular belief, the key to making good bid decisions is not picking the deals in your pipeline that you are going to win, but instead, it is discarding the deals that you are going to lose.”

If you knew you were going to lose, you wouldn’t waste your time preparing a proposal. Accordingly, the bid/no-bid process is about weeding out unlikely deals so you can better focus on the most winnable opportunities. Furthermore, a strong go or no-go evaluation process enables you to better forecast revenue and use available resources to your best advantage.

3 strategies for conducting bid/no-bid analysis

From business to business the RFP evaluation process will be different. However, this guide will help you create a go/no-go analysis that’s as simple or complex as your business requires. Certainly, the more objective you can be, the more accurate your decisions will become.

Basic: The core five go/no-go questions

The simplest and most straightforward way to determine if you should bid or not is to answer these five questions. Each question focuses on a factor that should be considered before proceeding.

  1. Big picture: Does this opportunity align with your business’s long-term goals?
  2. Capability: Is your business equipped to fulfill the RFP requirements? Can you meet the RFP deadline?
  3. Profitability: Will the project be profitable?
  4. History: Do you have content from a previous RFP in your proposal content library that will make answering this one quick and easy?
  5. Competition: Do you know who you’re competing against and can you win?

If you answer each question with a confident ‘yes’ then, go for it and happy bidding. On the other hand, if there are too many ‘no’ responses or caveats that start with ‘yes, but…’ or ‘yes, if…’ the opportunity may not be a fit. 

This basic approach serves as a quick gut check before you devote time and resources to an RFP response. It is a great place to start for those new to bid/no-bid decisions. In addition, it works well for small- or medium-sized businesses where sales executives are responsible for proposal management. Another benefit of this short-form evaluation is that it can easily be conducted during a meeting with stakeholders if necessary.

Intermediate: True or false checklist

For those looking for a slightly more formal bid or no-bid analysis, the true/false checklist may be a good option. This form is still quick and easy to use, but considers the core five factors listed above in more detail. In addition, it can be customized to include the bid or no-bid criteria that’s most important to your business.

To gather your custom criteria:

  • Examine past RFPs and identify common themes in those you’ve won as well as those you’ve lost.
  • Ask for feedback from subject matter experts, business development and stakeholders ⁠— they may be aware of other factors you should consider.
  • Define strengths and weaknesses that would heavily influence your likelihood of winning.

Now, to add your criteria to the checklist, simply phrase it as a true or false statement where true is the ideal answer. To keep the evaluation speedy, I recommend using no more than 20 true or false statements in your checklist. Once you’ve filled it out, tally up your affirmative answers and evaluate the recommendation to bid or not to bid. Generally, if there are more than 80 percent true statements, you’re in a strong position to bid.

This go or no-go analysis works well for businesses that have one or two dedicated proposal coordinators. It provides clear guidance and justification that will help to get everyone on the same page.

Bid or no-bid checklist template

Preview of To Bid or Not to Bid Checklist and letter templates

This downloadable bid or no-bid checklist template includes some sample true or false statements to help you get started. Naturally, you’ll want to customize these to meet your organization’s needs. The standard considerations are broken into several sections. In addition, you’ll find templates for your next steps including an intent to bid letter and a no-bid letter.

Advanced: Bid/no-bid decision matrix

Math and data lovers, look no further than the bid/no-bid decision matrix for all of your analysis needs. The decision matrix approach uses a number of factors, rated on a scale to make a bid or no-bid determination. In some cases, each question or factor can also be weighted based on its importance to the business.

While this approach can get a little complicated, it’s helpful to teams who must consider many varying perspectives when making a go/no-go decision. In this scenario, each stakeholder completes the go/no-go matrix and shares the resulting score. Then, you gather the results and make your final decision by averaging the scores.

Bid/no-bid decision matrix examples:

My PM bid/no-bid Excel worksheet

This worksheet from MyPM includes more than 60 questions to consider. In this case, each question has three possible answers, each with a value:

1 – Unfavorable
2 – Neutral
3 – Favorable

The spreadsheet calculates the overall average and offers a recommendation of either bid, consider bidding or do not bid.

SMPS go/no-go decision making matrix

The go/no-go matrix created by the Society for Marketing Professional Services (SMPS) is highly-detailed. For instance, each question is scored on a scale from zero to 10. In addition, within the sections there’s a detailed description of what each score means. Not only that, but the worksheet also allows you to complete the scoring from your competitor’s perspective and see how you stack up. Certainly, this will give you a good idea of your chances of winning.

A note about these tools

Remember, these checklists and worksheets are tools to help you make informed decisions. As such, they should evolve as your business needs and goals change. Regularly update the go or no-go criteria as you identify trends and better understand what works. If you use RFP software to respond to RFPs, explore how you can use the platform to accurately track workload considerations, win themes and more.

Next steps: Letter of intent or decline to bid 

Now, you have your decision. What’s next? If the opportunity is a great fit, you’re good to go! Use an intent to bid letter to share the news with your buyer. Then move forward to the next step in your proposal timeline. Conversely, if you don’t plan to bid, you should notify the customer of your decision. Either way, we’ve got you covered.

It’s a go: Send a letter of intent to bid

Now it’s time to get down to business. But, before you start drafting your winning proposal, take a few minutes to send your prospect an intent to bid letter. 

While typically not required, this handy little note lets the buyer know you’re excited to partner with them and you’re hard at work writing a perfect proposal. It also helps you stand out from the crowd, shows your thoughtfulness and high regard for them as a potential customer.

It’s a no go: How to respectfully decline to bid

We get it. This is awkward. No one likes rejection and it feels like a role reversal to tell a buyer that their RFP wasn’t a fit. At the same time, you want to be sure you maintain a good relationship for any future opportunities. So, here’s how you do it.

Write a no-bid letter

Communication is one of the most important things in a customer relationship. Accordingly, the decline to bid letter lets the procurement team know what to expect from your organization. 

It is especially helpful for the issuer to know if you’re participating when the RFP has a small vendor pool. At the same time, the notice gives the customer the opportunity to follow up with you (and potentially offer helpful insight) before the RFP closes. In addition, sending the update will also save your inbox from unnecessary clutter as the RFP process moves forward and the customer sends new information to vendors still in the running.

When writing your letter, remember:

  • Be as brief as possible.
  • Offer insight about your decision, but stay positive.
  • Provide your contact information for future opportunities.
  • If you have an existing relationship with the customer, follow up with a phone call as well.

Final thoughts on the RFP go or no-go process

As you develop and implement your RFP bid or no-bid process, remember that no two RFPs are the same. Often, the difference between deciding to bid or not could come down to timing, staff availability, customer expectations, competition and so on. By adding a formalized go or no-go decision step to your RFP process, you can boost consistency, track success and better optimize in the future.

How to find RFPs and win them

How to find RFPs and win them

Selling & Enablement

Every year, private organizations and government agencies award millions of dollars of business to vendors using the request for proposal (RFP) process. Consequently, responding to RFPs is a crucial part of any sales strategy and a great way to increase revenue. However, before you can take advantage of these opportunities to benefit your business, you have to know how to find RFPs.

Chances are you made it to this post by searching the internet — which is a great start. It won’t surprise you to know that’s one simple way to search for RFP opportunities. The internet plays host to thousands of organizations inviting vendors to bid to win their business. But joining or browsing an online RFP database isn’t the only way to find RFPs. You can also proactively submit your information to prospective buyers using online vendor portals. 

In this post, I’ll start with a few basics including key definitions that will help you understand the types of RFPs you can find online as well as their pros and cons. In addition, I’ll share the best RFP databases and how to get invited to closed RFPs. Finally, I’ll offer tips for winning more RFPs so when you find them, you’ll know exactly what to do.

Know what you need? Jump ahead here:

Key RFP definitions

Before we get into where to find RFPs, it’s important to start with the basics. So, let’s explore the RFP meaning and answer a few common questions. Then, we’ll go over several common types of RFPs you may encounter.

RFP definitions

What is an RFP?

RFP stands for request for proposal. A request for proposal is a document soliciting information from potential vendors. The document includes a collection of RFP questions that help buyers gather standardized information, compare and select the best supplier for any given project.

Why do companies use RFPs?

RFPs organize complex procurement projects and improve objectivity in supplier selection. In addition, the thorough nature of the process reduces overall vendor risk. Ultimately, this helps buyers reduce the overall cost of procurement and create long-term, mutually beneficial partnerships. 

Many private companies have a procurement policy that requires bids from at least three potential suppliers before they can move forward with a purchase. Likewise, agencies at all levels of government are required to issue RFPs publically to ensure that contracts are awarded and tax dollars are spent in a fair and transparent way. Accordingly, you can find open government RFPs online.

Who issues RFPs?

Almost every type of organization uses RFPs as a part of their procurement strategy. For example, RFPs are commonly issued by private companies, non-profit organizations and government agencies.

Two types of RFPs you can find

Open RFPs

An open RFP, sometimes called a public RFP, is available for anyone to respond to. Generally, these RFPs appear on the RFP issuer’s website and can be downloaded for response. While some private organizations may occasionally take this approach, most often, government agencies issue open RFPs.

Government RFPs
Government agencies create the most open or public RFPs. Federal, state or city agencies use the RFP process for most of their procurement needs. As mentioned above, procurement in the public sector is subject to complex regulation. Indeed, RFP regulations ensure a fair, auditable, objective and transparent vendor selection.

Education RFPs
Because they operate with some portion of public funding, schools and universities often follow procurement guidelines that are nearly identical to government policies. You’ll find lots of RFP opportunities on school district and university websites.

The pros and cons of open RFPs

Open RFPs typically prioritize price over most other factors. To avoid countless back-and-forth questions, open RFPs contain a lot of information and include rules, contract terms and conditions, and more. Consequently, they are often the longest kind of RFP. For example, public sector RFPs average around 116 pages.

It is also important to note that open RFPs have stringent requirements. Often they require very specific minimum qualifications and submission format. An open RFP may go as far as to specify that responses must be in a table format, use 12-point Times New Roman font, be printed and have hard copies submitted via postmarked package.

While open RFPs may receive dozens of responses, many may be unqualified. But, the procurement team still has to read each one to know which vendors might be a good fit. Consequently, RFP evaluation takes weeks or even months to complete.

For some businesses, the time-consuming and highly competitive nature of these RFP opportunities make them less appealing. However, government contracts also tend to be high-value with the potential for longer contract terms. So, having a strong bid or no-bid process is a must to balance the pros and cons of responding to open RFPs.

Closed RFPs

Many private organizations use closed RFPs, sometimes called invitation-only RFPs or private RFPs, to compare and select vendors. In this process, the issuing organization or consultant conducts market research, chooses a select group of vendors and privately issues the RFP to them, inviting them to submit a proposal. The small group of vendors may be selected based on data collected from a request for information (RFI), a request for qualifications (RFQ), reputation, area of expertise or experience.

Business RFPs
Corporations and companies of all sizes regularly issue RFPs for any goods or services you can imagine. They use them to evaluate new vendors and verify that they’re getting the best value from their existing vendors. Closed RFPs usually focus less on price. Instead, buyers seek vendors who can become partners, are the most qualified or deliver the best return on investment.

Because most corporations are private, they aren’t subject to the same level of regulation as public entities. Therefore, they often choose to create closed RFPs. Generally, it is simply a matter of efficiency.

Consultant- or broker-managed RFPs
When high-stakes, specialty procurement projects arise, many businesses engage with a consultant or broker. The consultant is an expert in a particular industry or type of procurement. So, they manage the RFP process on behalf of their client. For example, a business may seek out a consultant to help with a complex procurement project for a new IT network, employee benefits or company insurance. Because consultants and brokers have a deep understanding of their niche market, they tend to issue closed RFPs to select vendors who are the best fit for their client.

First, they work with stakeholders to gather requirements and provide expert advice. Then, they create the RFP, select which vendors to invite and manage communications. Finally, they evaluate the responses and provide recommendations to the client.

Pros and cons of closed RFPs

Unlike open RFPs that may garner dozens of responses, closed RFPs limit the number of proposals a buyer receives and has to score. This means competition is a lot easier and it speeds up the overall RFP timeline. However, the size of the contract is often smaller, and may be subject to lengthy negotiation and shorter terms.

Hybrid RFPs: Invited vendors but open RFP

The hybrid RFP approach is less common, but still deserves a mention here. This is when an RFP is issued individually to a handful of vendors, but is also posted in an open invitation. If an organization struggles to garner adequate exposure or interest in their RFP using an open RFP approach, they may reach out to a handful of qualified organizations to request a proposal. 

Non-profit RFPs
Hybrid RFPs are most frequently used by non-profit organizations. Because they receive tax benefits, public grant funding and donations they strive for transparency in their procurement processes. Unfortunately, their website or brand may not have enough exposure to simply post their RFP online and receive the required number of responses. A hybrid approach solves this and means you can find their RFPs online.

How to find RFPs

Now that we’ve covered key definitions as well as the types of RFPs you can respond to, let’s explore how to find RFPs for each category. Finding open RFPs is simply a matter of knowing where to look. On the other hand, being included in closed RFPs takes a little more work.

Two ways to find open RFPs

There are two main approaches to locating open RFPs. You can subscribe to an RFP database or look for RFPs manually. 

Use an RFP database

If you want to implement an RFP strategy to grow your business as quickly as possible, an RFP database subscription may be worth the cost. There are a number of sites that scour government and business websites and collect RFP information. Then, they place the RFP into a centralized, searchable database. This allows you to quickly sift through hundreds of RFPs and find the opportunities that are the best fit. Most are subscription based and cost anywhere from $10-50 per month.

Best RFP databases
There is a lot of overlap between RFP services, so it’s important to do your research and pick the best RFP databases for your business. Consider how often the database is updated, if they regularly have RFPs that align with your business and if they will send you automatic email notifications based on your qualifications.

Search for RFPs manually

A manual search for RFPs requires practice and research, but it’s the most cost-effective way to find new opportunities.

Google search for government RFPs
Because government organizations are required to make their RFPs public, they post them on their websites or in a searchable portal. You can quickly and easily find almost any state or local procurement page or portal with a simple Google search. When you search for an RFP opportunity, remember that each state may use different terminology. For example, try searching by the state or municipality name plus contracts, procurement, RFPs, request for bid (RFBs), or invitation to tender (ITTs).

Find open RFPs on social media
While less common, some organizations post their RFPs on social media. LinkedIn is the most popular social network for finding RFPs, but you will also see some on Twitter. Luckily, the search functionality on these networks makes RFPs easy to find. Simply search your industry and ‘RFP’ to browse through the results and find the latest open opportunities.

How to get invited to closed RFPs

Being invited to participate in a closed RFP is all about getting your company’s information to the right people. There are a lot of ways to accomplish this, but here are two that I’ve found to be most effective.

Proactively reach out to potential buyers

If you want to be included in RFPs from private organizations, the first step is to make sure they know who you are. Unlike using capture management, which proactively pursues known upcoming RFPs from specific targeted companies, being included in unknown future RFPs may be as simple as raising your hand.

Align with presales, sales and marketing
This approach requires research and a team effort, so it can be time consuming — but I’ve also seen it work. If your organization has a presales, sales or marketing team, they may already have initiatives to proactively connect with specific buyers. This approach is often called account-based marketing (ABM). 

The first step ABM is to identify your ideal customer profile (ICP). If you thrive within a certain industry, use this information and your ICP to identify top accounts to target. Then, align your efforts with presales, sales and marketing.

As part of your efforts to get into a particular company, reach out to the company’s procurement team. Let them know you’d like to be considered for future RFP opportunities and ask if they maintain a vendor database. If so, explore how to be included as a prospective vendor. Often, it’s as simple as filling out an RFI.

Note: Procurement teams get a lot of these calls so it’s important to stand out. Be knowledgeable about their business, unfailingly friendly, courteous and patient. It’s also useful to share any diversity certifications, qualifications or local connections you may have.

Register as a supplier or complete a vendor profile

Many large organizations accept vendor applications online. The process has different names including supplier registration, a vendor form or a vendor profile. If you know you’re a fit for a specific company, check their website for one of these forms.

Examples vendor registration pages

Get on a broker or consultant’s radar

There are brokers and consultants that use RFPs to serve a wide range of industries. In fact, you likely already know who they are within your sector. But, the real question is, do they know who you are? Procurement consultants want to deliver the best results to their client, so if you can provide value, introduce yourself.

When you do reach out, be brief. Send an introductory email with a few lines about how you serve their client base and what sets you apart. Then, ask about their vendor onboarding process and if there’s a vendor profile they use to track available suppliers. If you don’t get a response in a week or so, follow up and attach a short vendor profile of your own.

Once you connect with someone, follow up with them from time to time to stay top of mind. Remember, be genuine and provide helpful information. If you can build a relationship with a broker or consultancy firm, they are more likely to trust you, include you in RFPs and provide insights about customer trends.

5 tips for winning more RFPs

1. Make sure you’re qualified

Pay close attention to the requirements and evaluation criteria and prioritize your efforts. It’s easy to get caught up in answering as many RFPs as possible. However, if your chances to win are low, dedicating time and attention to creating a proposal is probably not worth the time. When you find RFP opportunities, ensure they pass your to bid or not to bid criteria. Responding to too many RFPs with fast proposals will impact your win rate and tax your proposal team resources.

2. Research your prospect

Learn as much as you can about the buyer. With more background and context, you’ll be able to better address the buyer’s needs and goals. If you’re responding to a government RFP, look for a previous proposal that won the contract. Just like RFPs are public, often the responses from each vendor are as well.

3. Pay attention to the instructions

Carefully read the instructions before beginning your RFP response. Identify every requirement and include them in an RFP compliance matrix (this process is sometimes called shredding the RFP). This is particularly important when you respond to government RFPs. If your proposal isn’t delivered as specified or doesn’t meet the submission criteria, they may not read past the first page. Instead the procurement manager may just throw all of your hard work out.

4. Ask questions

RFPs are complex, and unfortunately, some questions aren’t always clear. Instead of guessing at what the buyer meant, ask them. Even if the RFP timeline doesn’t provide a vendor question period, send the inquiry. Not only will it help you get insight, but it also shows the buyer you’re invested in understanding their business and being a partner.

5. Make sure your messaging hits the mark

Make your responses customer-centric and provide specific benefits. Address their primary needs and convey your understanding of their goals. Finally, when using your proposal knowledge library to create quick responses, don’t forget to tailor your answers to the buyer.

A final bit of advice

If your ultimate goal is to answer more RFPs (and win them) to grow your business, it’s important to not only search for RFPs, but ensure that your current response process is as efficient as possible.

However, if you’re already facing heavy workloads and tight deadlines, it’s going to be difficult to ask the proposal management team and SMEs to do even more. You have two options: hire more staff or adopt RFP software.

Naturally, I recommend RFP software (specifically, Responsive) because our average customer reduces their response time by up to 50 percent. They are then able to redirect that time toward improving their content library, optimizing processes, finding new RFPs, customizing responses and increasing RFP submissions by 5-15 percent. 

If you want to explore what Responsive can do for your business, you can see it for yourself by requesting a demo or use our return on investment calculator to see the results.

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