Big Leaps

New Data: Top Salespeople are 7562% Better at Winning RFPs

On March 13th, @Dave Kurlan published a very interesting article with a topic that I had picked up to write and publish on March 15th, as a part of (my weekly newsletter, a habit inspired by the Guru himself). The Headline caught my attention. But then, due to a training workshop schedule that was coming right up in the beautiful city of Chandigarh, north of India, coupled with my other regular SalesEnablement-as-a-Service commitments, this upcoming article of my newsletter royally went on hold.

But yes, it takes patience and effort to put something like this together, isn’t it? So here we go !

In Sales, have you ever been in a situation where you have felt like the blind men and the elephant? Yes, I must admit with all honesty that I have “also” been victim to this situation, very early on in my career and of course it had a very negative impact on me back then, of course having come out of it with some incredible learnings.

If you have been in Sales for a reasonably long time, you would have had situations where an RFP landed at your desk – something you had absolutely no clue about, before it landed straight into your lap. 

Worst: You are told that 

  • “We HAVE TO respond to this one”. 
  • “There is a mandate from the CEO’s office”. 
  • “We have to WIN this home”. 
  • “This is a MUST-WIN”
  • “We have been trying hard to crack this logo”

Very few Sales leaders can resist the temptation to respond. That last hope, after all – of somehow making that last-ditch attempt to meet/exceed Sales Quota. The high-spirited sales person always ever-willing to give it a shot, lands up with Procurement and “Hey, we can’t disclose any further information from whatever has been mentioned in the RFP” and to garnish a little topping of dismay to that, “You could get disqualified if you attempt to reach anyone from business during the RFP process”.

What happens next.? Our favourite Proposal factory is now happily chugging at it, printing pages of standard pitches and standard canned charts covering the universe of how great and mighty we are, without really having anything of it to do with the main intent of the sacred RFP that was released in the market to a (un)lucky few, that would help solve their real business problems and challenges. 

The fate of such proposal responses, neatly bound and wrapped, is pre-decided!  They land up in the grave.

This usually happens with weak salespeople who have low scores in the following Sales Core Competencies:

  • Commitment to Sales Success
  • Reaches Decision Makers
  • Consultative Seller
  • Value Seller
  • Qualifier
  • Supportive Beliefs
  • Sales Process

Using data from Objective Management Group, who has assessed more than 2.5 million salespeople, @Dave created the table below to show the difference between the top 5% of salespeople, who choose the wiser path of working hard to shape up demand from scratch, having discussed issues and challenges faced by the business within the target company, getting a deep understanding of their ecosystem, the interdependencies between Finance, Engineering, Operations, R&D, Sales & Marketing et al, the gaps, the process maturity across levels, the stakeholders themselves, the dynamics between each one of them, their likes, their dislikes. Customer intimacy at its best !

The bottom 50% of salespeople choose to respond to RFP’s, they had no clue about, in the hope that some divine intervention will ignite some magical triggers that will win them, the award.

Receiving a Request for Proposal (RFP) that you were not aware of, while it was in the making can be challenging. Here are some key aspects you might be missing in this situation:

  1. Background Information: Without prior knowledge, you may lack the necessary background information about the project, the client’s specific needs, preferences, or the context in which the RFP was issued.
  2. Preparation Time: Being unaware of the RFP during its development phase means you missed out on the opportunity to prepare in advance, gather necessary resources, or align your proposal strategy with the client’s expectations. Eventually, as luck would have it, you will have to make do with a stop-gap arrangement of whoever you can manage to pull out to support you in the RFP response process. You will lack big time in your ability to offer any differentiation that you would have otherwise have enough time to curate and make that impact to win.
  3. Stakeholder Engagement: Not knowing about the RFP beforehand prevents you from engaging with the stakeholders or decision-makers early in the process, which could affect your understanding of their priorities and concerns. Also it’s a clear RED flag that you were not invited to the table when preliminary discussions were held with “Consultants” in the process, and seeking ideas. As sad as it may sound, you are not welcome and you know why. You haven’t just invested enough of your time in trying to understand the customer stakeholder(s) challenges. Someone else did. Now, its payback time and one shall reap what one shall sow. Isnt that saying so apt, in this case?
  4. Competitive Insight: If you were unaware of the RFP’s development, you might also lack insight into who your competitors are, what they might be offering, and how to differentiate your proposal effectively from how they are going to differentiate themselves and their solution. Oh yes. You read that right. NO matter what you think, there are other competitors out there who are equally trying to gain mindshare and they have some differentiation to offer to the customer too….
  5. Tailored Solutions: The lack of early involvement means you might not have the detailed insights needed to tailor your proposal to the client’s specific needs and challenges, reducing the chances of your proposal standing out.
  6. Clarifications and Questions: Missing the initial phases of the RFP process can lead to a lack of clarity on certain aspects of the proposal, and you might miss the chance to ask pertinent questions that could improve the quality of your submission. For eg. You will never know specific nuances like in the case of GCC services : what is the customers Continent/Country/City of preference where they would like to build their presence. Inversely, in the case of Top 5% Salespeople, they engage early on with the customer stakeholders and are able to take the time to position a particular location of choice and engage in a validation after examining the Pros and Cons. This is something you can never get to, when you are in a passive reactive “RFP Response” mode. Remember the blind men and the elephant?
  7. Strategic Alliances: Not knowing about the RFP in advance might prevent you from forming strategic alliances or partnerships that could enhance your proposal’s strength and appeal. Too late, too sad.
  8. Budget and Resource Allocation: Being late to know about the RFP could affect your ability to allocate the right budget and resources effectively, potentially impacting the feasibility and competitiveness of your proposal.

To mitigate these challenges, it’s essential to maintain good communication with potential clients and have a network in place that can alert you to upcoming opportunities. 

Now after preaching all of this to the altar, I know that at times, you will get into a situation where  you receive an unexpected RFP and for reasons whatsoever, you need to respond to the RFP by compulsion –  first acting swiftly to gather information and understand the requirements can help compensate for the initial lack of awareness. Research about the prospect and even more research about what the competitors are likely to offer could get you a ticket to the shortlist. Not the preferred approach at all, though.

Hope this article helps our younger Sales folks to a sound awakening to what makes a Rock Star Sales person.

Do you have anyone on your team you would recognize as being in that Top 5%?

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