The detailed Competitive Analysis Richter & Company compiles for clients provides them with information to craft a compelling––and profitable––solution to beat the competition. It’s in-depth and delivers the details to help you better understand how to win. But what if “how to win” isn’t the question you need to answer right now, but rather … “should I bid”? In this case, a CA deep dive likely is not what you need … at least not yet. Instead, all you really need is a better understanding of the competitive landscape. You don’t want to spend too much of your precious B&P resources just to figure out what the competitive landscape looks like, yet you need to develop some idea if you want to be in a position to win before bidding begins. Our Bid/No Bid service is the perfect tool to help business development professionals make well-informed decisions on whether or not to jump into a new competition.
The Optics of Bid/No Bid
Bidding is not a rash decision. That’s why partnering with us early in the procurement cycle is critical. Bid/No Bid looks at your position in the marketplace by offering an at-a-glance view of your competitors. To gain this insight, our high-level assessment answers two key client questions:
- Who are my possible challengers?
- What relevant capabilities do they have?
These queries lead us toward uncovering valuable information to help you decide if a specific award is right for your business in a short period of time. Competitive Analysis takes time, research, and injects the colorful details your bid needs to stand out from the crowd. Bid/No Bid collects big-picture data and can include attributes such as your adversaries’ size, revenue, employee headcount, headquarters’ location, and a quick digest of their most relevant and recent experience.
What if you decide to not pursue?
Sometimes, Bid/No Bid results show our clients that more substantial or more well-positioned companies are out there—those who may have a significantly better chance of landing the contract. For decision-makers, this may lead them to conclude their time and money are better spent elsewhere: on other projects. Results can also reveal this particular award isn’t currently a good fit for your company—important information for short-term and long-range planning goals and objectives.
Other clients see what they bring to the table as on-point, making them a serious contender. There may not be a lot of companies vying for this chance. Their capabilities, bandwidth, and budget put them one step ahead. It can be challenging to figure out in a short window of time. The good news is you don’t have to worry if you fit the criteria and wring your hands gathering information alone. That’s where we come in.
Selecting us for your Bid/No Bid data collection means we are locked as your exclusive resource for that specific opportunity. That’s why after completing the Bid/No Bid process, if you decide the option is right for you, Richter & Company will deduct the cost of our Bid/No Bid service from a Competitive Analysis: the next logical step.
Ready to find out more? Contact us for our prompt, affordable, and––very effective––services.
