by Justin Grensing, Esq., MBA
One of the more tedious activities that falls under the broad umbrella of marketing is responding to requests for proposals, or RFPs. RFPs are typically issued by large organizations — like large corporations or government entities — that are looking for a vendor for a large expenditure or project. It’s basically a way of telling the public or a specific group of pre-screened vendors, “Hey, I want to buy something! Send me a pitch!” The sheer number of interested vendors they often receive responses from and the need to objectively compare them means they are also telling these vendors, “But…send me a pitch in this precise format.”
The process can be time-consuming and convoluted, but a winning bid can be extremely lucrative. Fortunately, there are some basic tips and strategies that can make the process more efficient. (more…)
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