The KPI that Really Matters
Nobody enjoys being told they're falling short, especially when you believe you're doing a brilliant job.
But let’s face it, the sting of criticism pales in comparison to repeating mistakes, particularly when these errors lead to lost RFP (Request for Proposal) opportunities.
You absolutely must ask for critical feedback from your customers on your RFP responses. Their feedback can be the reason you start winning your RFPs.
Here's why feedback is your secret weapon, how to get it, and how to use it:
Why Feedback Matters
Your customers are quite literally evaluating your RFP responses, demos, and conversations. They can see where you’re doing well and where you aren’t. They know why they don’t want to work with you or why they are happy to add you as a vendor.
You can guess why customers don’t want to work with you or why they hired you, but you won’t know until you ask. Maybe you 100% understand their goals and clearly show how you could help them reach those goals. Or maybe your proposals are confusing. You won’t ever know what your proposals are really like until you ask.
If you start seeing a trend in customer feedback, you can change.
If you don’t know what your customers think you can improve, then you’ll keep making the same mistakes, ultimately hurting your chances of winning future RFPs.
How to Ask for Feedback
Before you even submit the RFP, let the customer know you will be asking for specific feedback on your response. This not only lets them know you care about the quality of your proposal, it also means they won’t be surprised when you ask for feedback post-RFP.
Your feedback needs to come directly from the customer’s top decision-makers and stakeholders, not their procurement teams.
I like to ask three to five questions because it isn’t too burdensome for them to do. The questions I like to ask include:
How did you feel about our ability to deliver the solution/service?
How did you feel about the commercial portion of the bid?
How did you feel about the team you worked with?
At what point did you know we were(n’t) the right fit for you?
What were the key differentiators that made you choose our company over the other vendors?
Having open-ended questions means they have the freedom to talk about what they liked or didn’t like.
These questions are somewhat specific to the tech industry, so make sure to ask questions that make sense to your specific use case.
Internal Feedback Session
Once feedback is collected, the real challenge begins: sharing and acting on it without demoralizing your team.
Get your response team together, including everyone who helped participate in the RFP response in some way. Go through each feedback item, the positive and the critical.
For the good feedback, you can decide how to keep doing more of that good thing.
For the critical feedback, you can decide how to ‘fix’ whatever it is that caused the problem.
(Note: Remember that not all critical feedback is valid. A customer once told me they didn’t like the proposal because it felt like it was written specifically for them. I was once told by someone that I would never succeed because I was too assertive for a woman. Not all feedback is a gift.)
For both the positive and critical feedback, elect someone to be in charge of implementing each change, with a reminder to check-in on the changes by a specific date. It’s easy to talk about changes you need to make, but it is difficult to find the time to make these changes.
One of the most important things to do is to make sure this is a comfortable, trusting setting. The people in this call know they are possibly going to hear they didn’t do something well - which can often lead to people feeling defensive or upset.
Conclusion: The Power of Feedback
Embracing feedback, both positive and critical, is essential for continuous improvement and winning more RFPs. It may not always be comfortable, but it's undeniably effective in refining your approach and enhancing your proposals. Remember, the goal is not just to win more bids but to become a better vendor, one that listens, learns, and evolves in response to customer needs.
Incorporating feedback into your RFP strategy not only improves your chances of success but also deepens your customer relationships, establishing you as a responsive and attentive vendor. Start asking, listening, and adapting today, and watch as your RFP win rate transforms tomorrow.
