RFP Basics for Relocation DirectorsBy Peg Guinta, CRP, GMA On occasion, real estate-based relocation departments may need to complete an RFP for corporate or RMC clients’ group moves, property management or other mobility industry service needs. Although these opportunities may not occur often, formalized Request for Proposal processes have become the mobility industry norm, especially for corporate clients, so it may help to understand how response style can influence selection decisions. While your services may be an excellent match for a client, your company may not win the business if your RFP response loses significant points on fundamental elements. Most prospects tend to form subjective perceptions of your compatibility and consultative qualities and will assess your ability to understand their needs from your RFP response. Here are some basic considerations that may help improve your award chances when the next RFP opportunity arises. Customize Responses for Each Prospect A one-size-fits-all RFP response could leave an impression that your company views all clients similarly. Instead, use a client-focused approach and create a memorable RFP by demonstrating to clients that you’ve considered their needs. Show awareness of the firm’s situation by referencing client-specific details such as transfer activity locations and its current business environment. Anticipate issues and challenges within prospects’ relocation program and include possible solutions. Offer unsolicited, but responsive potential services for destination area rentals, new construction and mortgage lending programs or home marketing specialty services in slower departure area markets. Always identify the advantages clients receive by working with your firm to distinguish your company from competitors. Give Your Company a Personality While customizing your approach to each prospect is essential, so too is establishing a memorable and positive impression of your firm’s persona. Avoid a ‘plain vanilla’ profile; personalize your company by including service team biographies or briefly discussing community activities or “green” efficiencies important to your firm. Incorporate your department’s key service performance statistics (i.e., price opinion accuracy, list to sale days, customer satisfaction ratings) in your response narrative. Use strategically placed proof sources such as testimonials from recent clients to create a stronger differentiation profile for your company. Review from the Reader’s Perspective In your final proof-read consider style, content and readability from the clients’ perspective. Read your response as if you are the prospect to uncover unused opportunities to include additional client benefits. Look for inconclusive, unclear or non-responsive answers to compound RFP questions. Provide direct answers and respond to the spirit of the question - even if not expressed well. If multiple authors prepare content for an RFP look for mismatched writing styles and blend in apparent differences. Make it easy for readers to physically use your materials, too. Select design styles for readers’ ease: difficult-to-read fonts, dense text and missing navigational tools, (i.e., content tables, divider tabs if hard copy) can limit reader focus and absorption. It is sensible to use prepared responses for frequently needed service descriptions, but beware of verbatim paragraphs and phrases. These distract readers and forfeit opportunities to showcase additional service dimensions and advantages. It’s tempting to repeat responses to seemingly redundant questions or refer to a previously crafted answer but better to provide ancillary service descriptions or explain how you resolved a related situation for another client. Follow RFP Instructions Lastly, and most preventable, some RFP responses lose points on the most basic items. Evaluation teams may use sophisticated scoring systems to evaluate companies’ services but they also notice when instructions aren’t followed. Corporate or RMC service buyers often request RFP bidders to use a specific format (i.e., Word, Excel, etc.) or protocol (i.e., Q & A rules, pricing/fee models, etc.) to better understand service differences and conduct “apples to apples” cost comparisons. When requested formats aren’t followed points may be deducted from candidates’ scores. Worse, it may be considered a cultural characteristic and give an impression of future work style interactions with your firm. Although cultural compatibility isn’t always a conscious evaluation element within RFPs, it could affect a decision between two finalists. Other criteria being equal, prospects will likely select the service provider they feel they can work with most easily. So, consider your RFP response your emissary - one capable of enhancing or diminishing your company’s chances of moving forward in the prospect’s evaluation process. Peg Guinta, CRP, is Projects Director for RIS Consulting Group. For questions, please email peg@rismedia.com. |