Should your agency pitch that RFP?

It is exciting when a potential client has invited you to pitch their business. You feel wanted. You feel recognized. You feel validated. The feeling is reminiscent of being asked to dance at a party -- it's the first step of what could potentially be a mutually beneficial relationship. Or more times than not, it's simply a dance and you both enjoyed the experience. However, unlike deciding whether to dance with someone at a party, the decision to pitch an RFP should be based on logic not emotion. For many agencies, pitching RFPs is the lifeblood of the business development pipeline.

I've put together a simple Go/No-Go Decision Guide for your next client pitch. Experience has proven the benefit of having  predefined criteria so you don’t chase every opportunity that comes across your desk. When your agency isn’t busy, you’ll often find yourself wasting resources chasing opportunities that aren’t a good fit. On the other hand, you might pass up opportunities that are a great fit, when you are busy. This guide will help you decide which RFP’s are a strategic fit to grow your agency.

The most important decision to be made in the proposal development process is the Go/No-Go decision. Your aim is to pitch work that you have a reasonable chance of winning. Determining which work to pitch is a good way to control business development costs.

These eight questions below will help you think through whether the RFP solicitation in your inbox is worth pursuing.

Question 1. Is this a client you want to work with?

0 – No.

1 – Yes.

2 – Yes and we’ve been looking for an opportunity to pitch this client.

Question 2. Do you have an existing relationship, or have you met with someone in the organization?

0 – We don't know anyone, but it looks like a great opportunity. 

1 – We have a contact in the organization.

2 – We were aware of the RFP before it was public knowledge.

Question 3. Does this prospect align with your expertise?

0 – No.

1 – This is our target market.

2 – We’ve solved a similar problem for this type of client.

Question 4. Is there reasonable time to respond?

0 - No. There is a good chance this RFP was written with another firm in mind and they are soliciting proposals to price shop or satisfy outside requirements.

1 - Yes.

2 - Yes and we have intel on what the selection committee is looking for.

Question 5. Do you know the competition?

0 - We have no idea who else is pitching this business.

1 - Yes and they are formidable.

2 - Yes and we think we're a better fit.

Question 6. How would you describe your pitch team?

0 - Pitching is not our strong suit.

1 - We probably have about a .300 batting average.

2 - If we get it the room, then it's our business to lose.

Question 7. Do you have a sense of the budget?

0 - We have no clue of the budget.

1 - Budget seems low but we hope to gain future business from this client.

2 - Budget for this work allows us to be profitable.

Question 8. Does winning this business help you grow strategically?

0 - No.

1 - Yes by solidifying our expertise.

2- Yes and it positions us to achieve our strategic objectives.

A score above 12 should give you comfort in a Go decision on this RFP. 

A score between 7 and 11 is a gray area. You might want to do additional research before making a final decision. There could be other subjective factors you want to consider e.g. This might be a new market that you're targeting.

A score below 6 is a No-Go for this RFP.  There are too many signals that are not in your favor.

Going through this systematic process should give you some assurance that you're making the right decision. You want to take the emotion out of the Go / No-Go decision and ensure your decision to pursue an RFP is fact-based.  If you decide to pursue, then bring the emotion back in because you'll need it to win the pitch. Read this article for insight on Winning the Virtual Pitch.