In most industries providing high value services and products into the B2B marketplace, the single most expensive element within the entire sales cycle is developing the winning proposal. It’s the most expensive item when you win and it feels much, much more expensive when you lose. Which, inevitably, you do more often than not.
The cost of proposal development usually starts at the “thousands of pounds” level and can run into millions, and that’s excluding the significant opportunity costs associated with not bidding for other deals that might be more winnable. Plus, factor in the time of directors and other senior managers who sit outside the dedicated sales and marketing team; so often top people have to be mobilised to assist with tenders and “must win” proposals. Developing proposals is a tough business.