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We’ve all experienced it: the elation of having the prospective client request a proposal as quickly as possible only to have it languish in the land of unreturned follow-up phone calls.
What is really going on with these prospects anyway? How do we as professionals avoid the dilemma of the dangling proposal, and increase our proposal approval ratios?
To get to the solution we have to look behind the curtain, and see what the driving forces are around the requests for proposal.
For the purposes of this piece, we will focus primarily on one company’s specific request for a proposal from your firm or company vs. the cattle-call RFP (I’d recommend staying away from those as much as possible anyway).
What is prompting the prospect to request a proposal in the first place? The usual assumption is they are moving one step closer to doing business with you and will buy once they see your offer, both in terms of service content and fees. The first error here is that this is only an assumption. more…