Marketing & Sales - Bid Libraries: a blessing or a curse?

Sarah Hinchliffe explores the pros and cons of a central store of reusable information for your bids and proposals

 

Imagine the scenario. You are responding to a Request for Proposal (RfP). You wearily put pen to paper knowing that you’re about to repeat yourself - you had a similar request not long ago. At best, you remember where it is and use it as a ‘starter for 10’. At worst, you begin from scratch. We’ve all been there.

Now imagine being able to go straight to a central resource – a library of some sort – where you can pick and choose, slice and dice, mix and match well-written, approved text and diagrams to your heart’s content.

Unfortunately, nothing is ever quite that black and white. Everything has a price. So, is a bid library worth the investment?

 

A great idea in principle

Given that the same information is required for bids time and time again, a bid library should act as the ‘single source of the truth’ for draft content. If implemented and managed well, a bid library will provide significant benefits that will contribute to higher win rates. The table below summarises the most common benefits: ... 

 

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  • Ruchika Kulkarni

    Ruchika Kulkarni

    Business Development and Customer Relationship Manager
    T 020 7331 2024
Marketing and Sales - Bid Libraries a gift or a curse (pdf)

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