Bid Tracking- Why We Won or Lost the Business It’s all about relevance
In seeking to land new clients or win new business, the solicitor will succeed or fail based on achieving/not achieving relevance to the client’s needs.
In competitive bidding situations, the solicitor will win or lose because they are more relevant than competitors on the factors that matter most to the client.
SOI's Win/Loss Analysis will tell you specifically:
why you won or lost a specific, important piece of new business
what you did well (and not well) in seeking “new business” on an on-going basis in order to improve their new business performance.
Plus, get feedback on the following key factors of the sales process:
Was our corporate positioning/reputation relevant, favorable or unfavorable to winning the business?
Were the financial, operating and technical capabilities of our company/business unit seen as strong enough to deliver the required product(s)/service(s)?
Did we understand the key factors behind the client’s receptivity to our seeking their business or behind their invitation to bid for their business and what they hoped to gain by awarding the business to us?
Did we understand how they would evaluate our suitability to be awarded their business in the environment in which we were operating (e.g., sole source versus competitive bid)?
Did we understand the capabilities they expected of their product/service provider and how to demonstrate that we possessed (or would possess) the required capabilities?
Was there an incumbent in place whom we would have to “unseat and replace” or share the business with?Did we understand the incumbent’s positive and negative factors in their relationship with our prospective client?
Did our product/servicing offering to win the business fit their needs in terms of performance, features, delivery, organizational structure/support and pricing (level/structure?)
Was our culture appropriate to becoming the provider of the product(s)/service(s) sought?
Were our people the kind of people they wanted to work with (or acceptable to work with)?
