It takes a long time to put together a bid for a large project, especially if you aren’t using any software to help with take-offs and estimating. You might be spending hours on each project, with no confirmation that you’ll have any return on that investment.
In fact, more than half of your bids are probably unsuccessful, because most specific trades are overcrowded with competitors. The “race to the bottom” mentality can be very frustrating if you keep being beaten on price, regardless of the quality of service you’re offering.
However, there is a solution. Smarter bidding can help you win more projects without putting in more work. You might even be able to save a lot of time.
Learn from past mistakes
Make sure you revisit your bids from the recent past, especially the ones that didn’t win. Consider the client’s perspective: what reason might they have had to choose an alternative company? This may be easier to think about if some time has passed since you put the bid together.
Repeating this process on a regular basis should allow you to spot patterns and take educated guesses as to why your previous bids weren’t up to scratch. Each time you go through the tender process, you should put your previous experience into making your bid better.
Stand out from the crowd
Little extras might make a big difference. In many cases, companies bidding on a project will have a very narrow focus. To an extent, this is very important, because you’re primarily being compared based on your specific area of expertise.
However, demonstrating an understanding of the big picture and offering a better service that might help the client in the long run could be what sets you apart from your rivals. Anything that makes the client’s life easier or saves them a little extra money can have a positive impact.
Ask for honest feedback
When you’ve already identified all the areas for improvement you can find on your own, it might not hurt to request some assistance from your would-be clients. In the event that you get turned down for a project, simply ask what they were looking for that you didn’t appear to provide.
Maybe you’ll realise that the client didn’t choose you because you failed to offer something that you could easily have included in the bid, had you known it mattered to them. It might be too late this time, but that’s why it’s important to apply the lessons learnt when you submit your next bid.
Embrace technology and use estimating software
There’s no reason to be stuck in the past. Take-off and estimating software can save you a significant number of hours compared to the manual method, which frees up the time you might need to implement these suggestions.
RapidQuote is, naturally, our recommendation for contractors. It really is an effective and comprehensive solution, giving you confidence in the accuracy of your bids as well as taking a lot less time to actually produce them.
If you’re interested in learning more about RapidQuote to determine whether it’s right for your business, we’ll be happy to help. Simply book a demo (which is completely free with no strings attached), and we’ll talk you through it.