We don’t have to tell you: losing out on a tender is frustrating. Your team put a lot of time and effort into responding to an RFP (Request for Proposal), but in the end, it was not enough. So the biggest question in mind here is “What Happens Next After Losing an RFP?” A lost RFP has more implications than just the loss of a one-off deal. As you failed to win over a potential client, you may also be at risk of not being considered for future business opportunities from the same client. A lost RFP also causes turbulence internally. It can especially demoralise your team if several RFPs in a row were answered unsuccessfully.
Fortunately, you can gain experience for the next RFP from every tender you don’t win. Failure provides a great opportunity to analyse the situation and develop some new procedures to manage tenders in the future better and win more often. Below we look at what happens next after losing an RFP and what you can do after losing an RFP.
1. Find out what the problem was
Take the time to get information on why you lost the tender. Kindly request feedback from the potential client, either by email or in a short call. There may be another opportunity to work with this client in the future. By asking in detail, you will learn how you can improve your position in the next tender.
2. Re-evaluate your responses
Which part of your offer did not appeal to the customer? Where could you have been clearer? What mistakes have crept in? It is a good idea to go through your RFP document again and see which mistakes can be avoided next time. Especially to avoid oversight mistakes in future tenders, it is worth using RFP software.
3. Discuss results internally
Stay in dialogue with your team, even (or especially) if your last RFP was not successful. Invite everyone involved in the creation to share their experiences. It is important to discuss what went wrong during the creation of the RFP, but equally important to highlight what was successful. You may be surprised at the feedback from your team. However, be mindful of the circumstances. If possible, do not call meetings when all your colleagues are busy and an RFP has already been lost in the early stages.
Your internal process for responding to RFPs should always be evolving and open to constructive criticism. This includes implementing feedback from the potential client and colleagues involved in the creation next time. Many man-made mistakes can be avoided with software support. Schedule a demo today to learn more about Beyond.RFP and how specialised RFP software can help you improve.
