You'll increase your chances of converting a prospect to a client if you treat your RFP responses like the strategic sales tools they're meant to be.
Whether it's due to the demise of the agency-of-record, growing concerns over transparency issues, or the invasion of management consulting firms on ad agency turf, marketers are actively shopping for agencies like never before.
So what does that mean for agencies? You just might start seeing an increase in the number of RFPs landing in your inbox. Good for the upper-end of the sales pipeline, but you'll increase your chances of converting a prospect to a client if you treat your RFP responses like the strategic sales tools they're meant to be -- and that means avoiding these six hazardous pitfalls.
1) You don't know enough to make informed choices.
The Fix: Ask the right questions.
Having an RFP from a new prospect show up unsolicited in your inbox can elicit a giddy response. It's a shiny object that leads you to believe your pipeline problems are over.
Hallelujah. You knew something would come along eventually. Instead of thoughtful consideration of the RFP's requirements and the client fit with your agency, you rally your team and dive right in.
This is a risky, time consuming approach to winning new business.