One of the most important components of a successful construction business is the ability to land ongoing projects. As the project manager, you’re tasked with leading this bidding process. You have to come up with an enticing proposal that realizes the client’s vision, remains within budget, and convinces them your team is best suited for the job.
Here, we’ll take a look at some actionable and effective tips for landing bids more successfully to help take your construction business to the next level.
Don’t go after every job.
When you’re short on projects, it’s tempting to send out as many bids as possible. This strategy of casting a wider net in the hopes of pulling in more work usually backfires as you end up spreading yourself too thin. After all, the amount of time you spend on a proposal directly impacts its quality and effectiveness.
Sending out fewer, high-quality bids is better than sending out a bunch of rushed and poorly made bids. Instead, you should be deliberate about the projects you choose, make sure they’re a good match for your team, and take the necessary time to make a superb bid. You’ll see your bid-hit ratio steadily increase which also boosts financial success.
Build relationships with top decision makers.
Effective bidding isn’t just about what’s in your proposal. That’s only half the battle. If you really want to make sure your application stands out, you should invest time in getting to know your potential clients both on a personal and professional level. Learn about their history and their goals for the future to better understand and even anticipate their concerns.
Showing up in-person is a must that too many project managers look over. Identify the movers and shakers within the organization for which you’re bidding and find a way to interact with them. It could be a round of golf, a casual dinner, or just a meeting. Either way, getting in front of your client can ensure you stand out and increase your lead generation.
Highlight what you can offer.
When sifting through dozens or even hundreds of proposals, clients are going to be looking for key differentiators between each bidder. That’s why it’s imperative to let your construction business’s unique selling point (USP) shine through. What is it about your team that distinguishes it from the competition?
Whether you specialize in a unique area, provide industry-low rates, offer rapid turn-around times, or have any other key differentiator, you need to highlight that on your proposal. This helps set your bid apart from others and clearly illustrates the advantages you bring to the table.
Understand why past bids failed.
It’s common for project managers to forget about failed bids and immediately move onto another. Besides, why would you spend any time focusing on unsuccessful proposals? Well, it’s actually a great resource for determining how to make future bids more effective. Whenever an application falls through, reach out to the client for some clarification.
Most will be more than happy to provide you with an explanation. Whether it was the price, the lack of clarity, or another factor, you’ll have clarity as to why the bid didn’t work and actionable steps for improving bids moving forward. This way, you can ensure your bidding strategy is always getting better.
Follow up on your proposals.
Failed bids aren’t the only ones you should be following up on. Reaching out to potential clients after sending over a proposal accomplishes a few important goals:
- It shows that you’re genuinely interested in the job.
- Your potential client will view you as a proactive partner.
- It maintains an open line of communication between you and the client.
- You’re keeping your business’s name top-of-mind for the customer.
As a project manager, you’ve got a million things happening on a daily basis. It’s easy for these follow-ups to get lost in the shuffle. That’s why it’s important to make it a standard part of your bidding strategy.
When you’re landing consistent gigs, you need the right construction team to get the job done. Madden Craftsmen makes it easier on construction businesses by helping connect them with the most talented and qualified craftsmen. Contact us to learn more about what we can offer. Let’s build something together.