How to Analyze Competition While Bidding for Government Marketing Contracts

The abrupt structure state and local procurement makes winning federal bidding a bit dicey.   Contract intelligence can provide a much more comprehensive view of your industry and your competition. This in turn makes business ventures with these government entities much more precise and profitable. Plus, it helps in winning government marketing contracts.  

Each loss should be a learning experience and each contract should be reviewed introspectively. The following tactics and data should help you create a much more competitive environment for government bidding, analyze your competition, and maximize revenue.

Pre-bid techniques: Knowing all information necessary to complete a bid

You have identified a contract for which you would like to bid. You have 2 weeks to submit a bid. The best way to accomplish this knows what needs to be done exactly and precisely. But work with a government marketing services provider always helps.

Ask Questions! Sometimes one mistake can disqualify you. Government marketing services is  a  sensitive arena  and  you  need to be  extremely  process  oriented. The procurement officer is your main point of contact to answer any questions about the bid. Their sole responsibility is to ensure that the government entity garners the correct bids so they can get the best bang for their buck possible. Often times, amendments and addendums are issued during the course of the open bid period.

In addition, some agencies require any questions asked in writing to be provided to all vendors who demonstrated interest in the bid. It is better to properly ascertain the requirements and precisely answer the requirements. Furthermore, this window provides enough time to collect all intelligence necessary to prepare a competitive and profitable bid response. Working with a government marketing services provider always helps.

Winning a bid: Leaving money on the table

Winning a bid is not always what it is cracked up to be. If you are expecting an acceptable profit, how should you go forward with bidding  of government marketing contracts? Did you drastically underbid your competition unnecessarily? Each winning bid will always leave some money on the table, not unlike bidding in the private sector. If your winning bid results within your predetermined profit margin then you did a good job. If it’s less, fret not for this a learning experience for next time. Work with a government marketing services consultant in such scenarios.

Several keys to look for While Bidding for Government Marketing Contracts  

As already mentioned, government marketing is  extremely  process  oriented.  So,  when you are into  the  field  looking for  winning contracts,  here’s  what you must keep in mind.   

  • How many vendors bid on this contract? 
  • What other vendors are competing against your company? 
  • What was the next highest bid?
  • Losing a bid: Lessons in competition

What About Losing a Bid

Remember, losing a bid is not always a bad thing. Perhaps the winner underbid the contract or their wholesale distributor provides products for a lesser amount. If the latter is true, identifying the profitable bid is crucial! Statistical data has shown that by subscribing to a service that notifies you of RFPs give you a much greater chance of finding opportunities that fly under the radar.

In addition, not winning a government marketing services contract gives your firm the opportunity to look introspectively at cost structures that may prevent your ability to bid competitively while unwittingly giving other companies the leg up. In the end, quirky bid tabulations and bid contract award information is what determines the lessons from mistakes. 

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