Add tendering to your marketing plan

The great benefit potential buyers experience by purchasing through tenders is greater competition on the quality of solutions offered leading to cost savings. Similarly a potential supplier can find that the tendering process can lead to savings in the cost of selling and an organized approach to expanding their business.
It is currently estimated that at Public Procurement accounts for 25% of the world's annual GDP. This translates into a market-size of $1300 bn in the US, $1000 bn in Europe, $150 Bn in Africa & much more in Asia, Middle East, East Europe, and South America.
It still remains the fairest way for buyers to ensure they have received the best offer from the market. Tendering gives suppliers of products or services the same timeframe within which to respond and the same objectives to achieve. No preferential treatment is given to any potential supplier.
Once the invitation is published, the tendering process limits special treatment and potential for favoritism. Every submission is assessed on the merits of the supplier’s written response.
Businesses that win tenders demonstrate skill at addressing the requested instructions and communicating a compelling solution to the buyer’s evaluation panel. They take extra care to prepare a submission that responds directly to the questions asked. They address the requirements specified and communicate an understanding of the objectives the buyer wants to achieve.
Businesses that lose a client, or fail to win the tender, often blame the process before at their submissions.
We need to get a grip on tendering if we want our businesses to get amongst serious money! Our clients have told us many stories that reflect the value they get from tendering opportunities and I would share some of those in coming articles.With other form of marketing-such as advertising,telemarketing,direct mail and sales representation-there is generally a lot of effort and expense incurred in identifying potential clients who may have need for your product or services.It can take some time to develop a cold market to the stage where you can submit a quote or proposal for the sale,not to mention the often lengthy decision making process and changing requirements of each decision maker.The First Sale to new prospect is often made at unusually low margins to get your foot in the door.
Author-Rakesh Verma is working with leading Infomediary and Bidding Consultancy Company having vast experience in International Tendering(Email-rakesh.verma@tendersinfo.com)