A fiercely growing SME will make winning bigger contracts and adding more established clients on their books an ongoing priority. Easier said than done maybe – but in this blurb we explore how a combination of reliability, innovation and pure energy can help any small business win those big, lucrative contacts.
Why SME’s Should Vie For The Big Clients & Contracts – As a business expands, it should naturally aim to widen its client base. Startups may begin their corporate life with one or a handful of small clients. Not a bad kick off, but there is safety to be had in numbers. Catering to more clients simply mitigates the risk of one major contract going sour, or one major customer going bust. Bigger companies, while not immune to corporate death by any means, have more scope to get out of a hole – very often, their sheer brand strength can ensure that a bidder will pick them up as a bargain, and keep you on as a supplier.
Here are some key strategies to keep in mind when bidding for larger contracts…
Pitch For The Big Fish – The larger the contract, and the brand, the more impeccable your sales pitch needs to be. Understanding your audience, and your own products unique selling point are simply crucial. Your pitch should find a way to reconcile the two, communicating clearly how your product or service is perfectly placed to satiate the client. Research your clients and their needs thoroughly – then discreetly provide hints that you’re fully aware of the specific challenges they face, and provide verifiable evidence that your solution is the only choice.
Promote A Stable Image – Large companies don’t like dealing with Del-boy types. When trying to run for the big company contracts, showcase your professionalism and corporate stability. Even if you happen to be a new company, provide some evidence of your company’s financial and structural well being. Showcase any well experienced and industry respected employees you have on the books – and speaking of books, provide top level numbers to assure the client that your company will be a going concern for a while yet.
Sweet Spot Pricing – Do your math carefully. Yes, you’ll want to offer a competitive price that screams value. However, winning a big contract simply by undercutting the competition can leave you with a large contract that doesn’t make you any money. Companies and governments want value that transcend the various business disciplines – price, reliability, quality and timeliness among others.
Dedicated Customer Service – It’s just natural to save the lion share of your support for the clients who provide the lion share of your revenues. When going for a large contract, ensure this is communicated during your sales pitch.
Accentuate The Positives – When battling for bigger contracts, aside from hammering home your main USP as talked about above, accentuate any additional business positives that you can bring to the table. Perhaps you employ highly efficient new technology that you’ve invested heavily in. Perhaps you have a management team that has an excellent market reputation. Make a compelling list of these positives and work each one of them into your sales pitch.
Remember that success breeds success – landing one big contract with an established brand name looks great on your company CV. It provides encouragement and a degree of security to all potential clients that your small business packs a really big punch!