Ep 111: FOUR Tips to Improve your Tender Conversions by 80% - Coaching Conversations

EPISODE IN BRIEF

In today’s episode of Coaching Conversations,  Nick provides a four-step process to increase your successes when it comes to submitting and winning tenders and quotes.

What is your ideal target for tender submission?  What can you learn from previous wins and losses?  What will help increase your chances?  Know your limits and work to your strengths.

Get your notebook ready and jot down these four vital steps… and start winning more tenders today.

Enjoy another super-packed episode of motivation… devoted to seizing the day!

 

Time Code/Show Notes 

0.26  Intro: This episode focuses on what you can do to improve th conversion rate on your tenders and quotes by up to 80%.

1.46  We already are time-poor. Spending time on tendering and getting no results is not a great use of time.  Labour intensive and expensive.  Need a plan. 

3.46  There’s a process.  It will clear the path and make things easier.

4.00  Step 1 - It’s vital to research the person you are tendering for.  Nick outlines his client's winning percentages of winning tenders.  Looking back at previous submissions will help define what you need to do to win more tenders and quotes going forward.

5.36  Step 1a – you need to know who you are tendering for.  If you don’t know anyone or anything about them – the likelihood of winning is very slim.  So do some research.

6.55  Step 2 – organise your top 10 tenders.  Is there a pattern?  Same clients or amounts.  Who buys most from you?  What are they like?  What habits did they have in common?  What type of company?  Give them a score rating.  Good client, fair, clarity, communicated well etc.  

9.29  The reason we need to research and rate is to define and attract more of the tenders you are likely to win.  The type of client that you work well with and are likely to be successful with.  Choose wisely – the wrong type of client can cost you dearly.

10.56  Step 3 – what Nick calls “Connection Credits”…  you need to have a legitimate connection.  Even if you’re the best option or the cheapest… most unconnected clients are hesitant to proceed with you.

12.17  If you have a concrete connection – your chances of success increase.  So find out what you have in common.  We’ve heard the saying it’s not what you know but who.  That proves true in business too.  If you’ve done business before, socialised with, or have a connection – increase your success. 

14.30  Step 4 – Follow Up!  Communicate before during and after the tender.  Even if unsuccessful – find out why.  Be persistent and professional.  Very rarely do you win your first tender – so learn as you go.  

15.49  Nick has a digital handout to help score clients and a checklist to help assess your tender likelihood of success.  

16.29  Chris suggests the need for patience and perseverance.  You have to do the work beforehand and learn what does and doesn’t work for you and your client type.  Takes effort. 

18.50 Reach out at [email protected] to get your copy of the tender-winning checklist.  Put into action and succeed more often.

EPISODE SUMMARY 

The four steps …. 

1. Research and KNOW your client
2. Score your tender successes and losses
3. Grow your “Connection Credits”
4. Follow up and refine

Reach out for the Tender Checklist and start winning more.