Does your firm often receive requests for proposals? It depends on how formalized a company’s process is in looking for a new firm, but many companies send out an RFP to many firms inviting them to participate in a competition for business. If you’re in new territory with RFPs, or need to reset your agency strategy on responding, keep reading.
Before you decide if you want to submit a response, you need to think it through and ask a bunch of questions. First, you need to figure out if the RFP is in your agency’s sweet spot and can you meet the RFP’s deadline; sometimes they are tight turnarounds. Do you have the time and staff resources to respond? This is key because if you don’t win the RFP, you have invested a lot in a competitive marketing project with no return on investment.
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