A high win-rate is at the heart of a successful consulting company.
If you’re securing more of the business you compete for, it means you’re spending less time fighting the competition, and more time delivering value for your clients.
It’s no surprise that the best firms are continuously looking for ways to boost their win-rates.
But how do they do it?
Well, firstly, they understand their potential clients’ needs.
In recent years, increased competition has led clients to become more demanding than ever, and they now make decisions largely based on the expertise of your firm. They look at:
- Your team’s skills
- Your specific industry knowledge that might be of particular use to them
- The references you can share with examples of similar or related past projects
- The speed and cost of your offer to deliver the results they want
- Your company culture, and whether you’re the ‘right fit’ for them
Now, standing out on each of these terms means demonstrating your expertise as early as possible. That means you need relevant and up to date reference cases, detailed industry-specific information, and consistent, high-quality, and efficient communications between your team and theirs.
So how do those top consulting firms lift their win-rates?
- Gather their internal expertise and references in an efficient and easy to use resource, so they can build proposals without having to ask colleagues for information or specific examples.
- Regularly reappraise their reference cases, and make sure they only share high-value, in-date information with potential clients.
- Learn from previous proposals, and repurpose the best parts as building blocks for future ones – increasing their efficiency and cutting down on wasteful rework.
Not only does this improve their win-rates, but it also reduces the time and effort spent on proposals, whilst increasing their quality. It’s a truly powerful transformation that delivers more business, more of the time, for less.