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Your Competition
If you propose often, then you probably
know who your own competitors are. The prospect will generally identify the other firms
they are considering if you ask. You might want to create files of information on
each competitor to give you information to use in future proposals.
Analyze the competition by asking
questions like these:
- Does any one competitor have a particular
desire to obtain this specific client?
- Is any competitor trying to establish
their credentials in this prospect's industry?
- If you answer "Yes" to these
questions, your competitor is likely to present a very low fee--to "buy" their
way in.
By asking the prospect why different
competitors were asked to bid, you will get an idea of the perceived strengths of each
one, as well as your own strengths.

Proposal Manager Toolkit - Clarifications
The Prospect's Competition
If you are aware of whom the prospect
considers to be their main competition, you have an excellent source to tap for
information on the industry or the issues involved with running an organization of this
type.
-
Probe to find out
why this organization is such an important competitor,
and you will get useful information about where your prospective
customer feels vulnerable or has an edge.
- Talk to contacts within your prospective customer's
organization to get details about the kinds of issues they face. Get information on the
competitor. Using this background in your meetings and in your proposal demonstrates your
knowledge and expertise in a way that simple claims cannot.
- Publicly-traded (SEC) companies are
required to file annual reports and other documents with the Securities & Exchange
Commission each year. These documents, and particularly the annual report and proxy,
contain useful background information for proposals. Most companies also have general
information brochures available if you just ask.
In addition, online services such as Lexis/Nexis have extensive databases of information.
Use the information you
gain from these sources and from client meetings to demonstrate in your proposal that you
understand the issues your prospect is facing.
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