Cost and Price – it all boils down to this doesn’t it? How you price your services is a key factor in winning proposals. But just deciding on a price isn’t enough; the client needs to be convinced that the cost and price that you offer is justified. This entails a lot more than typing out a figure at the back of your proposal or adding an appendix. As in all things, presentation is key.
Let us keep in mind that there are instances when you do not need to and in some cases aren’t permitted to reveal your cost and pricing data. Talking about Government contracts, you can check out this blog which details some of those exceptions.
We will look at 5 things to keep in mind when presenting cost and price data.
So an RFP (request for proposal) magically appears in your inbox. Our first reaction is usually “BINGO!”, we have a lead who has (some) budget and has most likely made the decision to purchase a product for their needs. As a company who prides its self on delivering a tool that makes the proposal writing and response process easier and more efficient, we will admit that we do have a bit of an edge over a traditional company who is not purposefully set up to respond to proposals. Although with that being said, there are times when we will read through a proposal and kindly reply with a politely worded “No thank you.” So what is the cut-off line between saying YES and dedicating time and resources, AKA money, and saying NO and moving onto the next?