SalesPharaoh

Senior Account Executive

Strategies to tackle RFPs bidding against competition

I have an important RFP that you submit a proposal on a portal for them to review against other proposals. I'm usually used with the email style of conversations and talking so this is totally new to me so I have no idea how to tackle this since it is very robotic and I didn't get an invite to speak with the guys.

What strategy should I follow? offer floor or ceiling?

Offer Floor or Ceiling Rate?

Attached poll

Start with Ceiling if they like the value they won't ask to discount Start with floor to close the deal? If that didn't get. Other?

*Voting in this poll no longer yields commission.

👑 Sales Strategy

13 comments

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Deepfuckingrevenue

Member

Enterprise AE

Give a very wide range and explain their are multiple variables that go into providing a quote, one of which is complexity we would diagnose throughout multiple scoping conversations? Going in at floor ain’t getting you to quota, and going to high might get you DQd, so you have to get them to the table to discuss your value where you can then provide a higher value quote

SalesPharaoh

Big Shot

Senior Account Executive

ok I'll give a wide range and try to fish for a call.

kneehigh

Politicker

Senior Enterprise AE

Give a wide range and say you will refine the range as you get close to narrowing down scope, requirements, modules etc. as the process concludes.
For the range I typically say 100% onto of the lower band e.g. $100-200k
If you get pushback from this (and I never have) then start putting questions back to them to "narrow the range".

sales7

Politicker

Commercial Product Enablement

Try and get any information you can out of the contact, I'd be asking things like:

1. What they are looking for in their own words (plain and simple but helps get to the crux of what in their wish list is a must have and what are nice to haves)

2. Who else they are inviting to response is gold as it will help you with price positioning and what features to highlight that you are competitive on

3. What is the evaluation process, is it a simple yes no related over all score system, should you expect to have to pitch if you make it through a first round, things like that, make sure you know what's ahead of you in the process so you can also justify resources from your side.

Good luck!

SalesPharaoh

Big Shot

Senior Account Executive

Hey thank you! I will check with the contact person I have inside

VEO

Head of Sales

You can't contact the people. Which means you weren't there to discuss the RFQ before it was written.

If buyer often buys this category their RFQ will be highly detailed as they know what to watch out for. But in that case you would know them and you would have access to them.

If buyer doesn't buy this often then there will be 'holes' in his/her RFQ.

I would not give a very wide range as said before. I would go in at at the low end/low spec of my offering but not with the lowest margin.

Chances are high that buyer didn't specify certain things; make your assumptions, aimed at the lowest costing offering.

This will get their interest. If they really are open to use someone that wasn't on their radar (you) then you will get a call to clarify your offer.

And then you get the floor to demonstrate expertise ("usually when people buy this they look at xyz; you didn't include that in your rfq so I didn't include it. I highly recommend it though for reason/outcome abc; would you want to include that?)

Without knowing anything about your product or your situation though.. I reckon that buyer already has a company in mind but has to bring it to market as per company regulation.

Blackwargreymon

Politicker

MDR

Start with Ceiling if they like the value they won't ask to discount

MaximumRaizer

Politicker

Sales Manager

Who else they are inviting to response is gold as it will help you with price positioning and what features to highlight that you are competitive on

Clashingsoulsspell

Politicker

ISR

What they are looking for in their own words (plain and simple but helps get to the crux of what in their wish list is a must have and what are nice to haves)

MR.StretchISR

Politicker

ISR

Mr.Floaty

Politicker

BDR

Back when I was a BDR I liked SalesLoft.. but SellerCrowd and LinkedIn is still the best place to get info. You can always find 1 email usually and then copy that format for others you find that are relevant to the account.

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SalesPharaoh

Strategies to tackle RFPs bidding against competition

Offer Floor or Ceiling Rate?

13 comments

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