The Importance of Intelligence when Competing for Federal Opportunities
Market Intelligence is the most important component of developing a successful business strategy. How else will you be able to understand at what point you’re standing, and find new ways to improve your methodologies to bring more value to your business. Information gathered will give you more insight into your industry trends, customer, and competitors. This way, you’ll be able to identify your strengths and discriminators against your competition. The process of preparing a persuasive response to a Federal RFP should start way before the release of the final solicitation. Intelligence is a broad term that encompasses different processes for different purposes. Competent and successful Capture and Proposal Managers focus their research on these main domains:
With a mature capability assessment based on a realistic approach, you’ll be able to evaluate whether your company can perform a job effectively. It will help you identify your strengths, weaknesses in order to be able to establish consistent and aligned approaches to improve them. With a thorough self-assessment process, you’ll determine whether the Federal opportunity you’re thinking to pursue is relevant to your business strategy and its objectives. This process highly impacts the quality of Capture Management strategy.
Your capture managers should be able to identify who your main competitors are and gather as much information related to them. They need to find out about the previous contract they have won and performed; the value of the contracts they secured; their capabilities to complete the contract on time and budget; get contacts.
This type of intelligence, competitive assessment, will help you know your opponents and see who you’re competing with. You’ll be able to compare your business capabilities with theirs, compare your win rate with theirs, the number and value of the contracts you have won and their reliability in the market.
This process is about gathering useful information about your customer in order to get to know them better. By becoming familiar with the way your customer works, in this case, the Federal Agency, their requirements and the way they make their decisions you’ll be able to better plan your winning strategy. Building a relationship with your customer is also very important. This way you’ll have the chance to demonstrate your credibility, past experience, past performance, compliance. You can also introduce them your key personnel and business capabilities.