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Outsourcing deals are won or lost on seemingly insignificant details. Competition is fierce, with no room for error.
So what causes a client to choose one vendor over another? What’s the difference between the winning bid and the close second? This interactive web-based discussion will examine five common reasons that cause outsourcers to lose business, and focus on specific steps providers can take to avoid these mistakes and develop a winning strategy.
1. Lack of insight into deal activity (contract knowledgebase). If providers don’t know what contracts are coming to term and what opportunities are arising, they can’t adequately plan and prepare and put the right people in place to define a winning solution
2. Bringing the wrong sales team. Too often, SMEs and delivery leads aren’t involved in early discussions – this hampers credibility and glosses over critical issues clients want to address. The team involved in the discussion has to be empowered to make decisions – having to call the mother ship for every approval is a deal-killer.
3. Chasing too many deals – and chasing none of them effectively. Service providers struggle to prioritize viable accounts, and end up chasing too many prospects and spreading themselves too thin. We’ll discuss how to establish a process to identify the opportunities best suited to your capabilities.
4. Poorly prepared responses. Materials are sloppy, generic, or irrelevant. We’ll examine keys to an effective response that focuses on addressing a client’s specific requirements and issues.
5. Ineffective processes around pursuits. A provider might have a great team and the ability to put together winning proposals, but if preparing the bid takes longer than it should, they’re missing opportunities to win more business.