Top 5 Response Templates For After A Sales Or Bid Loss
After a long and arduous process of submitting a bid or sales proposal, having the rejection letter come in can be a difficult pill to swallow. Every major agency and vendor has received this letter and it's what organizations do after the rejection letter or sales loss that can speak volumes about who your company really is. Utilize our top 5 responses to losing a sale or bid to help cement relationships with a prospect for the future and position your company as a market leader. Don't settle for average growth when submitting RFPs- work with our team of dedicated growth professionals, and challenge your team to become the market leader by using a predictable revenue strategy.
For business leaders who are stuck with what to do after a sales or RFP loss, continue on to find ways to improve your company brand despite having lost a sales or bid.
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The Top 5 Response Formats
1. Short and sweet - View Template
2. Offer to stay in touch - View Template
3. Response template to request feedback - View Template
4. Request a debrief meeting to celebrate and go through feedback - View Template
5. Ask them to follow your company on social media - View Template
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Executive Summary
- As a business owner or leader, this content is designed to help you salvage the sunk cost and time spent on responding to a bid to help improve your business.
- A sales loss is difficult but is often a missed opportunity given that companies can respond admirably and professionally to improve their brand
- A bid process often leaves feedback on the meeting table - get great insights into what your customers are thinking by requesting feedback or a debriefing
- RFPs may not be a reliable source of business and companies are moving into predictable revenue streams by utilizing growth marketing initiatives to create regular business outside of referral networks
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Top reasons why companies lose a sales bid
There are usually a number of factors in a bid loss but here are the most prevalent
- RFP was never really intended to have other submissions than the internally selected vendor
- Lack of verifiable claims of performance
- Team lacked experience or breadth of service
- Bid team interviews were used to filter out bids
- Quality of bid was not there due to pressures of other timelines
- Project was canceled or resources reallocated to another initiative
Why companies should respond to a bid/RFP originator after a loss
Responding to a sales loss is a great way to demonstrate that your company is reputable and professional. It also helps your prospect recognize that you really do care about customer service if you ask for feedback and are committed to improving the service. Often times companies neglect the fact that even lost opportunities are future tickets for sales and business if properly nurtured. The most important thing is to see a response of "no" as a "not now" and continue to respond and interact with prospects as future customers. Another reason why we've taken time to provide response templates is that people move and organizations' needs change over time. By conducting professional and focused follow-up after a bid loss, a company positions itself for future business.
Professional samples for responding to a lost bid or sale
Despite having lost a bid after expending team effort and time, the next step is critical. Even though it should only take a few minutes, it will provide a lasting impact on the relationship between your team and the prospective company. A response letter to a lost sale is typically a short email or fax after you have received writing in confirmation. It is often a courtesy to conduct this step and is typically provided within 1-2 business days of receipt of the RFP or sale decision.
Here are sample templates.
1 - Short and sweet sample
Response to Company Inc. RFP ###
James Sample
This email address is being protected from spambots. You need JavaScript enabled to view it.
647-999-2111
Date:19 September 2017
Recipient: John Smith
Company name: [Company Inc.]
Address: 21 Brooklyn Ave, Vancouver, BC, V5T6Y7
Our team is grateful for having participated in the RFP process with [Company Inc.]. We trust that the success we've seen so far will continue. We recognize your requirements are best met in another vendor but are thankful to have learned more about your industry and organization. We look forward to hearing more in the future about the accomplishments of your organization and are grateful for being considered as part of the call for proposals.
Sincerely,
[replace with signature here]
[replace with your name here]
2 - Offer to stay in touch template
Response to Company Inc. RFP ###
James Sample
This email address is being protected from spambots. You need JavaScript enabled to view it.
647-999-2111
Date:19 September 2017
Recipient: John Smith
Company name: [Company Inc.]
Address: 21 Brooklyn Ave, Vancouver, BC, V5T6Y7
Our team is grateful for having participated in the RFP process with [Company Inc.]. We trust that the success we've seen so far will only continue. It was with great pleasure we were given insight into your business and industry and trust that we will find opportunities to work with one another in the future.
We remain the leader in the [industry] and wanted to let you know you can contact us anytime you need a second opinion or direction in the matters of [service, product, industry]. We would be glad to remain in contact and if you are available let's connect in a few months to see how things are going. We want to ensure all companies being served by our industry are properly represented and taken care of.
Sincerely,
[replace with signature here]
[replace with your name here]
3 - Response template to request feedback
Response to Company Inc. RFP ###
James Sample
This email address is being protected from spambots. You need JavaScript enabled to view it.
647-999-2111
Date:19 September 2017
Recipient: John Smith
Company name: [Company Inc.]
Address: 21 Brooklyn Ave, Vancouver, BC, V5T6Y7
Our team is grateful for having participated in the RFP process with [Company Inc.]. We trust that the success we've seen so far will continue in the future. We recognize your requirements are best met in another vendor but are thankful to have learned more about your industry and organization. We look forward to hearing more in the future about the achievements of your organization and are grateful for being considered as part of the call for proposals.
We recognize that our team is only as good as the care we offer our customers. If possible, please provide any feedback on our interaction and service during this sales process. We take customer service very seriously and will take time to ensure this feedback will be properly communicated to our staff members. Thank you for considering this request and let us know if there is anything we can assist you with now and in the future.
Sincerely,
[replace with signature here]
[replace with your name here]
4 - Request a debrief meeting to celebrate and go through feedback
Response to Company Inc. RFP ###
James Sample
This email address is being protected from spambots. You need JavaScript enabled to view it.
647-999-2111
Date:19 September 2017
Recipient: John Smith
Company name: [Company Inc.]
Address: 21 Brooklyn Ave, Vancouver, BC, V5T6Y7
Our team was thoroughly impressed with the knowledge and dedication of the staff at [Company Inc.]. We trust that you have selected a qualified recipient of your business and can only wish you and the team the best. Should you be available, let's schedule a meeting to debrief the sales process and also celebrate the step forward your company is taking in improving its service. We recognize each prospect as a valued organization and will take the care and time required to ensure that is clearly reflected.
Feel free to let me know when you are available and I can ensure the proper arrangements are made to celebrate this step forward and to also ensure we address any open items that can help your team succeed.
Sincerely,
[replace with signature here]
[replace with your name here]
5 - Ask them to follow your company on social media
Response to Company Inc. RFP ###
James Sample
This email address is being protected from spambots. You need JavaScript enabled to view it.
647-999-2111
Date:19 September 2017
Recipient: John Smith
Company name: [Company Inc.]
Address: 21 Brooklyn Ave, Vancouver, BC, V5T6Y7
Our team was thoroughly impressed with the knowledge and dedication of the staff at [Company Inc.]. We trust that you have selected a qualified recipient of your business and can only wish you and the team the best. We felt that we were able to respond to your questions and requirements in a timely manner and trust that you appreciated our prompt and professional service. We hope that you can stay up to speed with the exciting developments at our company and invite you to join us on social media. Below are the links to our social media profiles. Please feel free to follow for regular news and announcements that may prove to be opportune for your business.
Sincerely,
[replace with signature here]
[replace with your name here]
RFP processes are hit or miss; companies are instead utilizing marketing to find companies that are already looking to make a deal and aren't concerned with the hassle of an RFP. Companies across the country are relying on growth marketing agencies to help augment and shape business by utilizing new channels. You may experience softening sales because the way people and businesses buy has changed.
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