How to be more successful at competitive bidding

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 2, 2007 -- Most companies adopt losing approaches to competitive bidding. Every company participating in an investigation by Prof. Colin Coulson-Thomas could become more effective at winning business by putting additional critical success factors in place. Only a handful of them bid in a winning way.

According to Prof. Coulson-Thomas, �In the competitive bidding arena a wide gulf exists between winners and losers. They exhibit very different attitudes and approaches.� His investigations reveal why some companies are so much more successful than others. Studies undertaken cover sectors such as construction, engineering, manufacturing, IT and telecoms, and seven professions ranging from lawyers and accountants to engineering and management consultants.

Speaking to senior executives in London the Professor explained �Winners are confident and proactive when approaching those they would like to do business with. They identify prospects that would make good business partners, and ruthlessly prioritise available opportunities. Turning down some invitations to bid allows more effort to be devoted to those retained.�

Prof. Coulson-Thomas believes most companies could increase win rates by adopting more of the critical success factors set out in a Winning New Business resource pack his team has produced. He explains �Most of the changes required are attitudinal and behavioural and can be quickly made. Winning or losing is a matter of choice.�

Coulson-Thomas finds that winners �enter their prospects� worlds and focus their responses and structure their proposals around prospect needs, priorities and selection criteria. They understand the value and benefits sought by prospects, their business environment, cost of ownership issues and the factors they consider when buying.�

The winners are also better at differentiating, building personal relationships and establishing the superiority of their offerings. According to Coulson-Thomas �they excel at every stage from being invited to bid, through offering support or ancillary services, to negotiating a contract. They understand their prospects� purchasing decision making processes and the roles played by different individuals within them.�

Coulson-Thomas points out that �winners start with clear objectives. They think through the outcomes and relationship they would like to achieve, and allocate sufficient resources early on to build up an unassailable lead. They remain sensitive to changing buyer concerns throughout the purchasing process, and work hard to establish empathy, build trust and match the culture of prospects. They regularly review their processes and practices, and learn from both successes and failures.�

Details of the �Winning New Business� resource pack, winning business reports covering individual sectors and seven professions, and related workshops can be obtained from http://www.winningnewbus