Suffering from a lower than average win rate? Here are 10 things that might be having a (negative) impact on your win rate:
1. You’re proposals are full of errors. If your proposals are full of errors, prospect can’t help but ask, will your work be too?
2. You don’t answer the questions the client asks. It’s maddening to feel like you’re not being listened to. If you don’t listen now, what will it be like later in the relationship?
3. Your materials are full of jargon that no one can understand but you. Are you the industry-leading, best-in-class agency for the latest emerging trends? Enough said.
4. You gave them more than they asked for. That’s right. You scared them. Too much is just as bad as too little.
5. There’s no chemistry. Think about it. Would you work with someone you don’t click with?
6. You’re not responsive to their requests. They email you a question. You don’t get back for a couple of days. And, they’re left wondering – is this how it’s going to be when they win the business?
7. You’re too cheap. That’s right. Just like you can be too expensive. You can also be too cheap. Don’t be. No one wants their agency to be a Wal-Mart agency.
8. You’re too expensive. Way too expensive. If you’re just slightly more expensive, you will often have an opportunity to negotiate. But if you’re way more expensive, they’ll feel like you’re out of touch or don’t understand their needs.
9. You pulled a bait and switch. The team you listed in the proposal is a wee bit more experienced than the team that showed up for the in-person pitch. See #10. They don’t trust you.
10. They don’t trust you. Why? Could be many reasons. Just make sure they do trust you. If they don’t, nothing else matters. People don’t do business with people they don’t trust.
Take a look at how you run your new business development processes and teams and see if any of these apply. If they do, take some time to make some changes and you’ll likely see an immediate increase in your win rate. Good luck!