Build a Lead Matrix to Qualify Your Bids
Qualifying a contract lead is like dating, the potential suitor has to be: attractive, in my league, worth my time.Be strategic in how you go after government opportunities. #GovCon Click To Tweet
So what makes a government opportunity worth pursuing? Well, of course, the beauty is in the eye of the beholder, but at the heart, pursuits should:
- Play to your organization’s sweet spots
- Make sense from an opportunity cost perspective
- Follow formal “gut check” process
The best way to do that is by using a Go/No Go or Bid/No Bid Matrix. Your matrix doesn’t have to be a 52-point check process, but it does need to have at least ten measurable actions that are part of a scale to evaluate the validity of opportunity areas in an honest way. Meaning your matrix should not have any close-ended questions. This way you are judging honest feedback as you question the viability of a contract opportunity.
So, to create a pursuit matrix, you need to create pursuit criteria. Then rate each of the criteria with a numbered scale to correspond to confidence levels. Once that is complete, assign a baseline search number which defines the pursuit of the opportunity; meaning select a target number that is the minimum threshold for contract pursuits. If the total points of your matrix meet or exceed that target number, you as the organization, have established the threshold worth pursuing. This, in turn, sharpens your decision-making abilities ultimately allowing you to determine when to “Go or Bid.” No more “pie in the sky” bidding practices — hello to increasing your win rate.
You can get started, using the same bid matrix that our clients use to evaluate their proposal pursuits. Using the matrix It has not only proven to be successful helping them winning contract opportunities worth their time and money, but also educating sales staff on what opportunities they should be bringing to the organization.
Download the matrix and tell me if it helps you as well, we will be happy to create and provide other resources that can help your business to grow.
Getting off the topic and to further help you create a winning proposal response, we are hosting a webinar on October 12, 2017, where I’ll be talking about tools to streamline your writing process. On that day, besides sharing with you the tools my team and I use, I’ll also be answering all your questions. Also, those who participate will be receiving a toolkit with video resources and templates. This is a must-attend webcast. You can save your spot here: http://bit.ly/ProposalWritingWebcast. Even though this sounds like a cliché we do have limited spots, so make sure you save yours now! See you there! 🙂