6 Tips to Help You Win More Construction Bids
A competitive bid proposal is more than just putting some numbers together and hoping for the best. You have to run extra miles to get positive results while bidding on projects and increasing your opportunity to be awarded.
Obviously, the accurate cost-estimates and lower numbers do take part in elevating your chances to converting bids into contracts; but there are few simple tricks that can make your bidding endeavor an all-time success.
Hack the bidding process with these 6 critical components of a strategy that’ll elevate your chances of winning more bids.
Ways of Bidding Competitively Feeling intrigued? Let’s jump straight in:
#1 Follow up (Is it that easy?)
It is crucial in construction industry jobs that you proactively follow up with potential clients after submitting bid documents. As a contractor, you’re always lost in the seemingly endless to-do list and thus it’s easier for smaller tasks, like follow-ups, to get lost.
But following up is crucial in closing the loop on your bids and growing your business. It not only gives a signal to the potential clients that you’re a good communicator and easier to work with but on top, it helps in improving your relationships in the construction industry.
Even on your follow up you discover that someone else already won the job, the client would be willing to provide feedback that would help you in improving your future proposals with more focused and strategic effort.
So, be more strategic with your follow-up process use a personalized touch throughout. Following up is as easy as tweaking an email or leave a voice mail but have an outright impact on your business.
#2 Know Where Your Bid Lands (Most Contractors Miss This One)
Effective bidding is a thing you can learn tirelessly with a shrewd mind and experience over time. So, in order to hone your bidding skills and increase your chances of getting reasonable profits with your bid; you’ve got to know where did you land regarding pricing in comparison with other bidders.
Ask this important question in your follow-ups that whether the bid was too high or too low. This information will be handy to adjust your pricing to win the next project.
#3 Build Rapport/Relationships (Oldest Trick in The Books)
Knowing your clients, finding their interests, and anticipating their concerns are some of the ways to relate and build relationships. These rapports are crucial in differentiating your bid because it’s easy to get lost in the pile of applications. So, maintain a good relationship with your client and this would move you up on their mental list of who to recommend or whom to go to first; when they are to undertake a new project.
#4 Wine & Dine (Cliché? Or Necessary?)
Showing up in person with the client in a lucrative way can really make a difference in landing more projects. You don’t have to be extraordinary to make connections; you can simply send gifts to their offices like a fruit basket or you can show up in person with breakfast in the office or take them out to restaurants for business meetings.
So, be memorable and stand out from competitions with your knock-on marketing skills.
#5 Be Social when attending events (Don’t Just Sit There, Get Talking)
The more clients you know the more the people who can recommend you for work. Another way of standing out in the competition is to be more competitive in understanding your competitors. You’ve got to know your competitors like what services they are offering, what are their strong points and in which areas they are weak.
So, be social in attending local or national contractor’s events and mingle. Learn who are the big companies in the industry, study your competition, get information, and know new people that can help you make connections in the long run.
#6 It’s a numbers game (Bid More= Win More)
Do you have bid invitations collecting spider webs in your email box? Another essential of improving your bid-hit ratio is to bid on more projects. The more you bid, the more are the chances to land more contracts. But, at the same time, your bids have to be based on good estimates and smart pricing.
Think about how much would you invest to land a 200k contract or maybe a 1 million dollar contract?
But with an ever-increasingly hectic schedule, it’s not easier to spend much of your time in bidding. Besides this, it is expensive to have a fulltime estimating professionals inhouse.
But don’t worry; we can provide you professional and fast construction takeoff services, so you can focus more on-field managing jobs, follow-ups and what matters even more. Partner up with us and we can help you bid more jobs.
We offer detailed and reliable material takeoff and cost estimation services that can take your business to the next level. So, what you’re waiting for? Just send us your plans and get a free quote for the next project.
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