ZVRK

Enterprise Account Executive

2 days until RFP submission time - is it worth it?

Have you ever won an RFP to which you were invited to bid only 2 days before the deadline?

We were just invited to an RFP through a partner, super late, and will now look to get an extension to the deadline. In the meantime, we`ve already missed all the early steps like submit questions, get answers, register on their proc portal etc..

Just curios if anyone has pulled this off before, come in super late and still manage to win an RFP? Is it worth it to work overtime to get this done?

Just for context, this is HRTech, ACV in the range of 200-300k.

🧠 Advice

📑 RFP

34 comments

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Justatitle

Big Shot

Account Executive

They have already picked their vendor and they're doing this to satisfy an internal requirement, I say this with 99% confidence. I would not waste your time.

ZVRK

Politicker

Enterprise Account Executive

Thanks for the feedback, that`s my gut feeling too..

DungeonsNDemos

Big Shot

Rolling 20's all day

I hate how often this is the case, but it's true. (But I love it when I get to someone first and help them build the RFP)

CRAG112

Valued Contributor

Account Executive

You’ve been invited as leverage against who they want to go with most likely. You know, because procurement needs to show they did their diligence and all

ZVRK

Politicker

Enterprise Account Executive

Agree, that`s def the most likely scenario..

Enterprise Account Director

My best move here is say - what if we were a good fit and we’d give you licensing for free for a year. Would you give us an extension?

Kosta_Konfucius

Politicker

Sales Rep

Unless the partner is confident and they did a lot of leg work, very low %

ZVRK

Politicker

Enterprise Account Executive

Partner sold a lot more in the same space to this customer, but was not even sure who is sponsoring this particular RFP. So, on one side they have a good standing relationship here, but on the other sise not so much with the department that this RFP is concerned with.. I kinda agree, doesn't look too promising :/

Sunbunny31

Politicker

Sr Sales Executive 🐰

Doesn’t sound like they have direct access to the DM in this case.

antiASKHOLE

Tycoon

Bravado's Resident Asshole

I mean, shoot your shot

ZVRK

Politicker

Enterprise Account Executive

We`ll definitely send a response, but I`m not too optimizing tbh...

Pachacuti

Politicker

They call me Daddy, Sales Daddy

I go with a 3 Strike Rule and having only 2 days to respond (and likely NO relationship with the buyer) is a big strike 1. No budget knowledge = strike 2. And I'm sure you can figure out a Strike 3. Unless your RFP response is just a 1-2 hour thing, I would pass on it.

medhardwaredr

Opinionated

Director of Sales NA

Always try, it’s not hard to fill out an rfp. If anything you can learn more about why you lost and use that to your advantage

Sunbunny31

Politicker

Sr Sales Executive 🐰

Where do you work that it’s not hard? Depending on the questions, a full RFP can take some time - especially when there’s a queue.

oldcloser

Arsonist

💀

Techo Bell

medhardwaredr

Opinionated

Director of Sales NA

I’m hardware so it’s just a matter of adding your specs, negotiating cost and usually that’s it. Our channel partners do most of the rfp paperwork.

Sunbunny31

Politicker

Sr Sales Executive 🐰

Interesting. It’s definitely not that straightforward where I am. We have created our own tool that makes responses easier (using our own software!) but it still takes time and thoughtfulness.

oldcloser

Arsonist

💀

We used to get RFPs in the old radio days with a 2 hour turnaround. Definitely ain't the same today.

medhardwaredr

Opinionated

Director of Sales NA

It is pretty neat, since we don’t sell direct the partner does the bidding.

SalesBeast

Politicker

Sales Leader

If you are floating in leads and have other hot deals closing then let it go. But if you are not above quota or really busy then you need to submit it. Be prepared to answer to your management about why you didn’t submit it- if you do not submit it.

sketchysales

Politicker

Sales Manager

If you can get a price in within the window id take the shot but chances are very low and id put it in the pipeline as such, I'd weight the value at 5% or less.

You are better to have something on the table than nothing though. The old cliche you miss 100% of the shots you dont take applies in this situation.

Natsochist

Good Citizen

Director of Product Sales

Only upside I see here: if you like the partner, you’re doing them (and, by extension, the client) a solid by tossing in an extra bid. Keep it in your back pocket if you need a favor in the future.

ZVRK

Politicker

Enterprise Account Executive

Yup, this could be one of those favors I can cash in in the future :)

CuriousFox

WR Officer

🦊

No. You will be used for leverage to their current vendor for better options. Don't advise.

Sunbunny31

Politicker

Sr Sales Executive 🐰

I’m inclined to “no” based purely on the short notice. There’s a solid chance you’re being used to check a “due diligence” box. It could be worth asking “we are clearly being asked in at the last moment. In my experience, that’s often because there’s some issue with the initial participants and a perception that they may not be a good fit for your desired outcome. Can you confirm if that’s the case?” Any answer other than yes, I would respectfully decline, purely based on the last minute nature of the request.

oldcloser

Arsonist

💀

Bunny facts. This ☝️

detectivegibbles

Politicker

Sales Director

Don't waste time. Ask what wins the deal, see if they flinch, and go from there. This late in the process they're just beating up the vendor they plan to go with anyway.

Beans

Big Shot

Enterprise Account Executive

Shoot your shot.

Filth

Politicker

Live Filthy or Die Clean

Standard RFP response to them - don't customize and don't lose sleep they aren't doing it right just doing it to have enough vendors in the decision pool before going with their cousin.

deathbysales

Politicker

Vice President, Sales

Yes, I have and it was half assed. We won. You won't know unless you try. 6 figure ARR deal.

imnotajerk

Valued Contributor

selling if vaporware roi

Ask them for an extension due to your internal left wing policies about making your staff work overtime to get it done. If they say no to the extension politely advise them that it will cost $76,550 in fees to complete this task. If they say no to that;<br> then ask them why they expect you to work for free, also advise them comparative prices can be found by doing their own googling - make sure they know that’s free. Then follow on with an email to the CEO advising them his procurement team is pushing to have people work overtime for free and you feel that’s against his companies own values and potentially a HR issue and should he wish to engage in a values conversation he can reach out to your EA to set up a time.

Sunbunny31

Politicker

Sr Sales Executive 🐰

ZVRK

Politicker

Enterprise Account Executive

Thanks everyone for the comments, good news - we got an extension tot eh deadline till next week :) This might as well turn into a nice q2 deal yet :)

ZVRK

Politicker

Enterprise Account Executive

Hi All, just wanted to let you know that I got an extension to the RFP deadline, and we submitted our answers yesterday, wish me luck :D

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ZVRK

2 days until RFP submission time - is it worth it?

34 comments

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