Here’s what you should know about strategic bid management

Got questions about strategic bid management? You’re in the right place! Here at Hudson Succeed, we thrive off teaching you anything and everything about the tendering process. Part of that process is strategic bid management. So, do you want to know what it is and how to conduct it successfully? Keep reading and you’ll learn our secrets!

What is strategic bid management?

Strategic bid management is a way of staying organised and on track when you embark on a bid. Producing a bid proposal is no easy task. There is a lot of work involved. This includes a lot of different stages and processes that can easily become overwhelming. Those that don’t value strategic bid management are likely to struggle during their tender writing process.

Tips from our experts for strategic bid management

We sat down with several of our Bid Writers to see what goes into bid management and planning for success.

1.     Check you are eligible for the opportunities you source

One of the first stages of strategic bid management is checking you are eligible for opportunities. You would be surprised how many businesses ignore this factor. Read ALL of the tender documents thoroughly. Note down any key details that stand out.

If the buyer states they want the supplier to have a certain qualification, then pay attention to this. If you don’t, but you bid anyway, you’re very unlikely to win. You’ll be wasting both yours and the buyer’s time, and this won’t leave a great reputation on your part.

2.     Consider exactly what the buyer requires

When you read the buyer’s documents, you need to show you have a grasp of what they’re asking. Plan out your answers to their questions. This way, you can ensure you don’t ramble and go off topic. If you do this, the buyer will grow bored and believe you can’t focus on what’s important.

3.     How to create your strategic bid management plan

When you are creating your strategic bid management plan, you should consider the following:

• Who will be responsible for developing responses?
• How is the work to be submitted? Some buyers require physical submissions as well as online.
• What format do they require your responses in?
• What do you need to attach for each question?
• Where is the response to be submitted and with what deadlines?
• How long will each individual question take?
• Do you need to create case studies for responses?

Having the answers to these questions ensures you are as prepared as possible. This also means you’ll complete the bid on time and have enough time for proofreading and reviewing. Remember: it is essential to have your bid in on time. If it is late by even a minute, you’ll lose your chance of being considered. So, create your strategic bid management plan and you’ll be set to win tenders!

Summary

Here’s a summary of what we covered:

What is strategic bid management?

To ensure your bid process runs smoothly, you need to be prepared. Bid management is the key to ensuring this. You’ll be able to stay organised and no small but essential details will go unacknowledged.

Tips from our experts for strategic bid management

1. Check you are eligible for the opportunities you source
2. Consider exactly what the buyer requires
3. How to create your strategic bid management plan
   • Who will be responsible for developing responses?
   • How is the work to be submitted? Some buyers require physical submissions as well as online.
   • What format do they require your responses in?
   • What do you need to attach for each question?
   • Where is the response to be submitted and with what deadlines?
   • How long will each individual question take?
   • Do you need to create case studiesfor responses?

Want to learn more about strategic bid management? Contact us to speak with our experts and we will answer your questions!

Need help searching for tenders?

You may be wondering where you can find a tender for your business. There’s no shortage of websites offering multi-sector tendering opportunities and leads. Ideally, you should be searching for a sector-specific site that posts all unique, public and private sector opportunities.

Our sister company, Hudson Discover, has 11 sector-specific tendering portals.  One centralised and easy-to-navigate portal can help you save time, streamlining the process.

Once signed up, you’ll have access to your own dedicated Account Manager. They’ll be able to answer any questions you may have about public sector contracts. You’ll also get an email alert when new and relevant tenders are uploaded to your sector.

A subscription to one of our industry-specific portals will include: 

• Unlimited portal access. You can browse your industry’s portal to your heart’s content. See the hundreds of opportunities that are available, intuitively categorised, and easily accessible.
• A daily email bulletin. When you sign up to a portal, you’ll receive an email alert when new tenders are uploaded.
• A dedicated Account Manager. They’ll handle any questions or queries you may have about the portal.
• A free 20-minute phone consultation with a Bid Writer. Our expert Bid Consultants will chat with you about anything tender related.

What opportunities can I expect from a tender search on a Hudson Discover portal? 

We host all kinds of tenders in both the public and private sectors. These are inclusive of, but aren’t limited to:

• Open tenders
• Restricted procedure tenders
• Competitive dialogues
• Negotiated tendering procedures
• Innovation partnerships
• Single supplier contracts
• Framework agreements
• Dynamic Purchasing Systems.

What we can do for you

We have over 60 years of bid writing experience and an 87% success rate. Whether you’re completely new to tendering or aren’t seeing results – they can help. There are four bid writing packages available:

• Tender Writing

Once you’ve found a tender you’d like to go for, send it over to us. One of our professional Bid Writers will write the tender response for you. They’ll provide a full Tender Writing breakdown and even submit it on your behalf.

• Tender Mentor

Tender Mentor can give your tender response a once over before you submit. The Bid Writing Team will analyse your response, notifying you of any errors and opportunities for improvements prior to submission.

• Tender Ready

During the Tender Ready service, our team will create professional policies, procedures, and case studies in your company branding. If you already have this content, we will review everything carefully to ensure that nothing is missed. This service also helps businesses who are new to tendering with terminology and industry knowledge.

• Tender Improvement

The Tender Improvement package can help those who have tendered before but aren’t seeing results. Our Bid Writers will assess your previous responses and work with you to develop improved content.

Get in touch to find out how we can help your business grow.

Vocal

Our support doesn’t end there! Our creative content agency, Vocal, are on hand to help.

The Vocal Team are not afraid to stand up and be heard. And we make sure our clients aren’t either! From small, micro businesses to large organisations, we are vocal about the things that make your business unique.

Our creative service is dedicated to growing your business through striking and thought-provoking content. Our team specialise in six areas, including:

• Copywriting
• Marketing
• Branding
• Websites
• Design
• Illustration.

If you’d like to know more about what we can do for your business, introduce yourself to the team!

Contact us today to find out more.

Find more helpful tips and advice in our blogs. We cover topics including:

• How to win a tender
• What is a Bid Writer?
• The tendering process
• Writing winning bids
• 7 tips for tendering for contracts
• Tips for bid management
• The types of tendering procedures
• Writing bids
• Bid writing consultants
• Submitting a tender response
• And many more.