Posted on December 7, 2021 | Category SMB Marketing | Length 2:04
Have you ever underbid a job just to find out you really underbid the job? It may feel necessary to bid a project lower than you want —or should— in order to win the job but in the long run, all you’re doing is hurting your business financially.
Luckily there is a way you can create higher, more profitable, bids and still win.
To most customers bids aren’t always about the price, but the value they receive. And that’s why you need to effectively communicate why your company has more value over the competition.
Because let’s be real, the reason you have competition is because others can do what you do.
Once you’ve determined the unique value you can contribute to the job, the next step is communicating that and leveraging it as part of the bidding process. So beyond having a clear overview of the work you will perform and the cost of your services, you need to include value-add positioning.
Which can include:
Being easier to work with because of your process, communication style or accessibility
Providing convenient scheduling options
Or even having team members with distinguished talents or unique skills
The temptation to try and price-cut competitors on bids will always be there, especially when you are first starting out and trying to build your client base, but just remember it’s not sustainable in the long-run. By committing to a value based mindset, it allows you to prioritize both the needs of your customers, as well as the strength and vitality of your company and the wellbeing of your crew.
To help your next bid start off right, check out the description for a link to a free Estimate template download along with a few other helpful links.
I’m Sarah from Third Angle, now get out there and win some bids!
Feel like diving deeper? Check out the video Why Tell Stories, where I address the major problem many businesses face when selling their services and how storytelling can help.