Quantifying the Value of Your Proposal Team

 

Posted By Qvidian | Jun 06, 2013

 

Last week I had the privilege of attending the Association of Proposal Management Professionals’ Bid and Proposal Con in Atlanta. Now, as Murphy’s Law would have it, this also means that I had an influx of RFPs hit my inbox, but never fear, I use Qvidian Proposal Automation, or drink our own champagne as we like to say around here, so I can answer RFPs relatively quickly leaving me plenty of time to take in some enlightening sessions at the conference. The theme that seemed to pop up in each one of my sessions during discussion was quantifying our value as Proposal Managers and Proposal Teams. Quantifying the Value of your Proposal TeamThe 3 Questions Proposal Managers Have to Ask Themselves are:

  1. What are we worth to the sales teams and the overall organization?
  2. What are the benefits for sales people to utilize the Proposal Team as opposed to doing proposals and RFP responses themselves?
  3. How can we help the sales team win more?

###What are Proposal Teams worth to the sales team and the overall organization? Metrics are a must for Proposal Teams. To quantify my value, I tie each project to an Opportunity in Salesforce so that at the end of the quarter/end of the year, I have an actual dollar value of how much I contribute to closing new business, renewals, etc. The nice thing about having quantifiable evidence of your contribution is that at the end of the year, you can go to your manager or VP and say this is how much I contributed and these are the resources I need to do my job more efficiently. I also track my win rate on RFPs and Security Questionnaires (100% in Q1 baybee). The tricky thing about win rates is that you can create an outstanding proposal but lose the deal on price or relationship – something that is completely out of your control, but since I had 100% in Q1, I’m gonna own it. ###What are the benefits for sales people to utilize the Proposal Team as opposed to doing proposals and RFP responses themselves? Well, for one, they could be spending their time selling instead of down in the weeds answering RFPs and creating proposals. Another metric that is interesting to track is the correlation between sales reps that use the Proposal Team and those that don’t. You will almost always find that the reps who are at the top of the sales leaderboard are those who utilize the Proposal Team. That’s always a fun little slide to flash up at company meetings, too. ###And, finally, how can we, as Proposal Managers, help the sales team win more? What can we learn from the proposal and RFP response process? In full disclosure, this is the one that I struggle with, but it is a priority for me to improve upon in the last half of 2013. Last half, what? Anyway….ask your sales reps what worked and what didn’t during the response process. What feedback did you receive from your prospect? How much time did you save utilizing the Proposal Team? The way I see this playing out for me is that I would like to create two short surveys – one for the sales rep and one for the prospect, taking a shot that they might actually answer it, and ask questions such as “Why did we win?” or “Why did we lose?” among other ones that will help me learn from the process, in the end becoming a better Sales Enablement Manager. How do you quantify the value of your Proposal Team and where can you improve in the second half of the year?

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