Every tender is required to address product or service innovation and value. This is the chance for you to really sell your business and what sets you apart from the competition. The client wants to see how you will bring innovation to the contract and what value-added products or services your business will offer. When developing your innovation or value-added offering, think both short-term and long-term. Some strategies may be quick wins, while some may provide substantial savings over the life of the contract.
Innovation is essential to any winning tender submission. Innovation allows you to detail how your products and services are ahead of your competitors, and what your company can uniquely offer the client. You have the scope here to explain your creative or more effective products, processes, services, technologies or ideas, and what value this will bring to the client over the contract term.
Innovation is not just about using technology; it is about using new ideas and new methods.
Your innovative ideas might drive value or create cost-efficiencies over the duration of the contract. Whatever results your innovative ideas bring, make sure you spell it out for the client. You’ll also need to demonstrate to the client how your business continually adapts its products and services to work with the changing marketplace, advancements in technology and most importantly, industry best practices.
Innovative ideas can take many forms. Here are some ideas you may want to include:
When explaining your innovative ideas to the client, don’t forget to include the benefits and potential savings, if any. For example, you might use robotics in your manufacturing process, which provides a 100% quality guarantee and completes the tasks significantly faster than manual labour.
List 5 things your company does better than your competitors. What do you do differently? For example:
Let me ask you: what does real added value look like … and how can you use it to make your business stand out?
While good service is always expected, bad service is not. Before you even think about value-adding, it’s important to make sure your current level of service is at least as good as your competitors. Otherwise, no amount of value-adding will keep your clients from shopping around.
Once you’ve established good customer service procedures, you can then set about value-adding to your service. For example, by training your staff to recognise and pay special attention to core customers, they can minimise the amount of time the client spends on hold, which creates a better relationship between your business and its core customers.
Your Clients Are Long-term Business Partners, Not One-off Customers
If you think of your clients as long-term business partners rather than one-off customers, you can establish a relationship with them that goes beyond the exchange of goods or services. In turn, this will make you their preferred supplier and you’ll retain their business, despite your competitors’ best efforts to entice them away.
In order to add value, you need to know your clients intimately; what their business goals are, what their needs are and what their strengths and weaknesses are. By identifying these things, you will also identify the areas where you can offer added value to them. Here are some easy ways to add value:
List the ways you add value to your clients. For example:
Now is the perfect time to show the RFT client how your company stands out. A very effective way of doing this is to include details outlining the areas where your company goes above and beyond.