As a language service provider, you respond to anywhere from a few requests for proposals to hundreds per year, eating up valuable hours from your salespeople, your project managers, and your technical staff. All of this time could be invested in more productive ways. Our research shows that translation buyers often fail to craft their RFPs in a way that allows them to obtain the information they need to be able to evaluate comparable services from prospective suppliers. Even as these tenders cause you to waste time answering irrelevant questions, purchasers often find themselves unable to make a fair comparison once they have collected all of the data. At the same time, many of you are also guilty of responding to tenders that are not a good fit for your business.
Who should read this report?
LSP owners, along with marketing, business development, and sales employees, will benefit from reviewing this research. In addition, any project manager or technical staff assigned to respond to RFPs should also review this report. Based on a detailed analysis of 91 RFP templates and interviews with 14 buyers and providers, the research provides insight into how purchasers of language services actually use RFPs to select their vendors. It also offers guidance in how your team can leverage the RFP process to its advantage.
What will you learn?
- How to analyze an RFP to determine if it aligns with your business strategy
- Four areas that will enable you to decrease the time and effort spent to respond to tenders
- Six things your team can do to increase its capacity to handle more RFPs that they can win
- Twelve categories included in the majority of tenders and the typical questions asked in each area
- Four factors that pique buyer interest in RFP responses
- Five actions that can push your responses to the bottom of an evaluator’s pile
- Why adding more detail does not improve your chances of winning a bid
- Three simple things you can do to outshine your competitors
- Three ways to raise your visibility with prospects
- Two tactics to help you win more business from current customers at the same time that you focus on landing new accounts through RFPs