Six Ways to Increase your Business Proposal Success Rate

By: Carol Dorman

At some point, most businesses, large and small, will seek a commercial relationship with another enterprise or organisation. The means by which this is achieved is a Business Proposal.

There are basically two types of business proposals:

• Solicited: Also known as Expressions of Interest or Tenders, these are requested by large organisations and government departments and are for the provision of services within specific parameters.
• Unsolicited: One enterprise contacts another, without having been invited to do so, for the purpose of conducting business.

While the presentation requirements may differ between these two types, six elements are vital to both. How effectively these elements are presented to the relevant decision-makers will determine each proposal’s level of success.

1. Focus on the potential client in your submission
Communicate that this particular organisation is the centre of your attention. Show that you are familiar with its purpose and philosophy.

2. Identify any problems or challenges they face that are within the scope of your expertise
Explain how these challenges would be met and solved using your services.

3. Demonstrate your expertise and qualifications
Use examples of previous projects, explaining how you solved each client’s problem and the results achieved.

4. Illustrate the value of doing business with you
Don't be misled by thinking that price is the ultimate factor in influencing whether or not your business proposal is accepted. Perceived value is of equal, if not, more importance. For example: If a company can see an increase in benefit and/or profit by doing business with you, that benefit will be considered in conjunction with price. Added value benefits such as customer care, after sales service and training will also heighten the proposal's chances of success. These are the "extra mile" activities that make a client feel special.

5. Testimonials from happy clients
Using testimonials is a powerful way to impress upon potential customers just how beneficial using your services will be for them.

And, finally…

6. Ensure that the submission is prepared for maximum ‘readability’
No grammatical or spelling errors are allowed and it must be easy to read
Proofread the text, then proofread it again. Proofread it, yet again or have someone else proofread it for you. It’s surprisingly easy to miss the simplest of errors in a text, even after checking it several times.

Remember, submitting a business proposal is not, nor should it be viewed as, the act of someone desperate for work. It is, rather, a way of communication between enterprises of how one can be of service to another.

Of course, there is no guarantee that, having completed and despatched your submission, you will be retained by the prospect. However, if the vital elements outlined here are included, your submission has the best possible chance of being favourably received.

Either way, you may bask in the knowledge of yet another organisation being made aware of the benefits of doing business with you—and that’s definitely a positive result!