An RFP response shouldn’t be something you “crank out.” Nor should it be something you ponder like a poet, waiting for the muse to inspire you (while your competition sends the quote).
Yes, there is a templated approach, but there’s also creative latitude, and an opportunity to go beyond merely presenting an offer and introducing your brand.
As with many B2B sales processes, the right RFP response starts with using the right tool: configure, price, quote software (CPQ), like iQuoteXpress (IQX).
The role of CPQ in RFP responses
What CPQ means in your RFP response process — and where it “plays” in that process — ultimately depends on the nature of the RFP.
In some cases, the creator of the RFP may simply be taking tentative steps, looking for vendors to make their case, providing top-level details on products, services, and expertise that address the moving pieces in the RFP.
But more often than not, the company behind the RFP is looking for something more actionable: specific product and service configurations (with pricing) that hit every deliverable in the RFP.
Because, after all, RFP stands for “request for proposal,” and that means responding with a detailed sales proposal that hits the mark and sets you apart. This is where CPQ can help you respond to RFPs twice as fast, if not faster.
CPQ empowers your sales team with the tools required to create a professional proposal — easily customizable sales quote templates and a product and pricing configuration engine. Additionally, it provides you with the means to send, track, and modify your proposal and, where and when it makes sense, transform that quote into a contract.
The nuts & bolts — and bells & whistles — of an RFP response
Essentially, we just described the nuts and bolts of how CPQ can transform your RFP response process. But there are bells and whistles, too, and that’s where the aforementioned “creative latitude” can come into play, where you can customize your quote to more specifically address not just the RFP deliverables, but the company — the brand — behind the RFP and create a response that goes past relevance and into resonance.
We’re not trying to teach an English lesson here, but the difference between relevance and resonance in the “RFP response world” is critical. Because EVERY response received will likely be relevant. But if you know how to write killer RFP responses, you can set yourself apart by creating a connection more than simply a reply. You can craft a quote that resonates with your prospect, that reflects their brand while it builds yours.
Your RFP response is your opportunity to show you understand your prospect’s long-run mission and values as well as their short-run needs. It’s the moment, in most cases, where your company and all you have to offer is introduced to a larger audience within your prospect’s organization. It’s critical to deliver a response that shows you understand the big picture.
How does CPQ help you do this? It starts with your templates, of course, which should provide you with easily customizable components where you can craft your message and insert imagery that helps create resonance. But in the end, this part of the RFP response process is the one that requires the heavy lifting as you’ll need to communicate effectively and convincingly (this whitepaper can help).
The good news is that the nuts and bolts in your RFP response — the quote template, the product and pricing configurations — are only a click away in your CPQ system, freeing you up to focus on the bells and whistles. And unless you’re in a commoditized market where price always wins, it’s going to be the effort and attention to detail that sets you apart and helps close the sale.
