By John DiPisa, Founder and CEO, Bid Desk Analytics –
The knowledge that a specific bid is coming up that includes your comparable product is valuable on several levels.
As a manufacturer, you would normally respond to a dealer’s request for bid pricing; however, when you are aware of a bid before it actually comes out, you have additional time to take several steps that are proven to be part of a winning strategy:
- You can reach out to the bid location and request that your product be considered as an “equal to” or “specified brand” on the upcoming bid.
- You can look at the price points currently being paid for comparable competitive products and adjust your dealer pricing to encourage participation with your product.
- You can contact the dealers that participated on the previous version of this bid to make sure you work with them on the upcoming requirement.
When you are able to anticipate upcoming product-specific bids, you can take fundamental steps that are part of a long-range strategy to reduce the volatility normally associated with bid business. In addition, such a strategy can result in a plus-over-normal increase in your current bid business.
At Bid Desk Analytics, our experienced Bid Desk Support Team leverages a proprietary Live Data Feed of unparalleled, product-specific data and time-proven strategies to help manufacturers secure profitable, long-term bid business. Contact us to learn more or to request a brief demonstration.