A business proposal
is more than just a price
Mark Coster
Founder of Pixooma
When you want to win new business, many prospective clients ask you to write and submit a proposal document. Very often, this means you need to spend time and effort in putting something suitable together, whilst in the back of your mind, you may be left wondering if anything positive will come of it and how you rate in the face of any competition.
Whilst many people think that a proposal document is all about the price, I disagree. While price is a critical factor, a business proposal is about so much more – highlighting your understanding of their industry, aims and focus, providing evidence of capability (showcase your strengths and skills), demonstrating your credentials, articulating a clear value proposition that extends beyond offering the lowest price and of course, the intention to start to build a relationship.
Forget offering the best price. Instead provide a solution that reduces their risk and delivers value throughout the process.
Proposals come in many shapes and sizes. At the moment, Pixooma proposals tend to be emails rather than a document with lots of pages. And to some extent, this is because I deal with some of the points below in my qualifying call with the client. But the specific approach doesn’t matter; it’s all about quality. A strong proposal gives clients a sense of trust and excitement. It shows you understand their vision and are fully prepared to bring it to life.
Here are my top tips for making sure that you position your business as the best choice and that your proposal stands out from the crowd.
1. Understanding
Establish clearly how you understand their requirements, and will meet and exceed them. Then go into further details about how you will go above and beyond by quantifying how you will add extra value. In my case, I have plenty of things to draw on – Pixooma Principles, trusted partners, our all-inclusive approach to pricing, and of course, our 100% satisfaction guarantee.
2. Messaging
Highlight why they should choose you. Detail what makes you a good fit, how you will approach the work, whether you have any other clients in the same industry, your communications strategy, timelines (if appropriate), and of course, last but not least, your price. When it comes to this last point, do not offer a low cost just to get the work. Price it according to the time it will take (plus some profit, of course), the value you place on your knowledge, experience and skills, and the value of the project to the prospect.
3. Evidence
Demonstrate your expertise and capabilities and provide evidence of success. Mention communications and how you keep to the plan, and what you will do to make the process work efficiently. You can do this by using case studies, testimonials or offering examples of completed projects with positive outcomes that are similar to the prospective clients’ requirements.
4. Solution
Ensure that the service/solution you are offering is unique and risk-free. Mention any safeguards you have in place i.e. quality assurance measures, accreditations or insurances that will bring peace of mind. It might also be helpful to mention any contingency plans to show that you are prepared and resilient in the face of unexpected challenges or change.
Become a strategic asset
My advice is to give yourself time and space to create a well-articulated and persuasive proposal, which gives you the opportunity to demonstrate the very same thoroughness and personalisation the client can expect to see throughout the project.
It’s worth pointing out that when prospective clients read your business proposal, they aren’t just buying a product or service; they’re buying partnership, trust and a positive outcome. You must demonstrate that you understand their objectives as well as those of their business/industry and are able to anticipate their needs in a timely and efficient manner. Forget offering the best price, instead look at the way you work so you are able to provide a solution that supports their long-term business goals, reduces their risk and delivers value throughout the process.
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