proposal management software. The other 20 percent use a mix of office tools, including cloud document shar- ing (68 percent), email (66 percent), offline document sharing (55 percent), and messaging apps (42 percent). Although many organizations indicated that their current system is working adequately, participants using RFP response software are 10 per- cent more likely to rate their tools as “extremely effective.” In comparison, those who don’t use RFP software are 17 percent less likely to rate their tools as “extremely effective.” It’s worth noting that those who consider their RFP tools extremely effective are 24 percent more likely to be very satisfied with their RFP response quality. Using dedicated RFP software can help teams respond to more RFPs, which increases the chances of win- ning bids. The report found those with dedicated software respond to an aver- age of 152 RFPs annually, while those without respond to an average of 103. RFP software speeds up the process by automating tasks such as importing responses, notifying team members of deadlines, and even suggesting an- swers to questions based on past RFPs.


4. MAINTAIN MORALE BY TRACKING SUCCESS AND EMPLOYEE SATISFACTION Research shows that executives and associates are disconnected regarding RFP metrics. For instance, executives are more likely to report higher win rates and submission rates than the employees who personally handle RFPs. It could be that leaders have ac- cess to data that employees don’t – or that they don’t know the day-to-day metrics as well as they think they do. Interestingly, when sales (rather than a proposal manager) owns the process, metrics are less likely to be tracked. And those who report feeling “very satisfied” in their role were also 15 percent more likely to report that their company is effectively track- ing revenue and team performance metrics. This means better reporting and tracking could keep organizations


VIDEO: SALES LEADERS EXPLORE SOLUTIONS FOR THE CORONAVIRUS CRISIS


aligned and motivated at all levels. Outside of net-new win rates and


revenue, some key metrics to track include: • Business retained through RFPs • Quarterly submission rates • Time required to complete an RFP (and RFP length)


• Employee satisfaction with the RFP process


Employee satisfaction is a metric


I strongly suggest companies track. Only 23 percent of respondents in our survey measure this number, yet the research found that those who are


SELLING TIP Organize Your Selling with a Sales Book


Your sales book is the bible of your profession. It should always be kept up to date with all the pertinent information you’ll need to make a presenta- tion to any customer. It is also a good idea to place in your sales book a copy of everything you carry in your sales bag. Should you happen to run out of an important form, you can always pull it out of your sales book and photocopy it without leaving your client’s office. If you are organized, you feel confident. This confidence comes across in


your presentation to established customers, as well as to new prospects. If the buyer requests a hard copy of a document, it is beneficial to have it at your fingertips. When you have to excuse yourself for a moment to retrieve something, you can break the mood you set between you and the buyer. Anything can happen by the time you return. The buyer can be interrupted by someone else while you are gone and completely lose his or her train of thought about what you two had been discussing. By organizing yourself and working smarter, you can be in the buyer’s sight at all times. Having everything at your fingertips enhances your pro- fessional image.


– SELLING POWER EDITORS SELLING POWER JULY/AUGUST 2020 | 13 © 2020 SELLING POWER. CALL 1-800-752-7355 FOR REPRINT PERMISSION.


more satisfied in their role also report higher RFP quality, submission rates, and win rates. The lowest satisfaction levels are reported at the associate and manager levels – and those are likely the people writing your RFPs. Keeping these team members moti- vated is an integral part of cracking the RFP success code. 


Zak Hemraj is the CEO and co-founder of Loopio, a Toronto-based technology company that helps enterprises super- charge their responses to RFPs, DDQs, and security questionnaires.


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