3 Reasons Why You're Not Winning Contracts

April 11

3 Reasons Why You’re Not Winning Contracts

If you're currently frustrated at the number of contracts you're losing out on or you're under pressure to increase your company's level of business... 

This could well be of help.

Fundamentally, to win more contracts you've got to do a better job of convincing your target customer that your company is the best fit for their needs.

In order to make that change you need to first understand what are some of the key factors at play which are holding you back.

The Reader Doesn't Fully Believe Your Can Deliver What Is Promised

Telling a person that you can deliver is all well and good, but they are only words.

Explaining how and why you'll be able to deliver is better.

But the gold standard is showing and proving that you can deliver.

If you think about it, what would YOU find more compelling?

  • A vendor telling you that yes, we can deliver... don't worry
  • A vendor showing you exactly how they've done that previously

Sure, you can do your upmost to convince them - but that's likely where you're currently losing out on contracts.

The way to mitigate against that is to leave your prospect without any doubt that you can deliver what you promise by showing them how you've done it previously.

The Reader Is Not Able To Fully Appreciate The Value You Offer

This is probably one of the most frustrating points of all.

You know how good your product is, and yes... it does take a bit to fully appreciate all of the elements, nuances and added value parts to it.

Ultimately, what you can offer is better in so many way to that of your competitors.

But it's often the case that the prospects you're dealing with and ultimately pitching to just don't see that clearly as well.

And it's because of that why your bid is not seen as strongly as it should be.

You're Not Winning Over The Whole Group

In B2B now, 94% of purchases are made by group decision.

Which means that in order to be successful you have to set about winning over the entiregroup.

Any stakeholders which you fail to impress could be that all important vote you need to seal the deal.

The interesting thing about groups is that some members may be more focused on the task in hand than others.

Or another way of looking at it is that some members will devour every piece of information they are given or have access to, where as others will be much 'lighter' in their due diligence.

Neither is right and neither is wrong.

Yet if you can make it as easy and quick as possible for group members to confidently arrive at viewing your company as the most favourable bid then you will be nicely stacking the deck in your favour.

Proof Is The Answer

If skepticism and a general state of remaining unconvinced is the recurring root cause of the problem.

The fix in which case is to simply provide unquestionable proof to support that you:

  • Are able to deliver
  • Offer the best value and combination of expertise
  • Have done this many times before

If only you were able to do that your contract win rates would immediately increase.

The caveat here is that it needs to be unquestionable proof.

Traditionally, written case studies have been a go-to solution for this.

However, written case studies are easy to doctor, fluff up, or even be entire works of fiction.

One thing which can't be faked however is one of your customers on camera giving a first hand account of how you delivered a successful outcome for them.

If you can provide your target customers with a case study video which does exactly that all of the problems listed above cease to be.

By handling all of those potential concerns your customer can end up doing all the selling for you.

It's so simple and so effective.

3 Reasons Why You're Not Winning Contracts


Carry on reading...