Competition in the government contracting world is fierce. To win a contract, you need to know your competition inside and out. Here are five techniques you can use to profile your government contract competition:
1. Know their business model. What does your competition do to make money? How do they operate? What are their strengths and weaknesses? Knowing their business model will give your insight into how they approach government contracts.
One way to learn about your competition's business model is to look at their website. Another way is to read articles about them in industry publications. You can also ask other government contractors for information about your competition.
2. Understand their capabilities. What can your competition do? Do they have the resources and expertise to deliver on a government contract? Knowing their capabilities will help you assess whether they are a serious threat to winning the contract you’re after.
To learn about your competition's capabilities, look at their website and marketing materials. You can also ask other government contractors for information about your competition.
3. Research their past performance. How has your competition performed on previous government contracts? Have they been successful? Do they have a history of delivering quality results? Checking their past performance will give you an idea of whether they are likely to be a strong contender for the contract you want.
To research your competition's past performance, you can look at government contracting databases like FPDS and SAM. You can also ask other government contractors for information about your competition.
4. Know their marketing strategy. How does your competition market themselves to government agencies? What messages do they communicate? What channels do they use? Knowing their marketing strategy will help you understand how they position themselves in the market and what their approach might be to winning the contract you’re after.
One way to learn about your competition's marketing strategy is to look at their website and marketing materials. You can also ask other government contractors for information about your competition.
5. Ask around. Talk to other companies that have competed against your competition. Get their insights and perspectives. This intelligence can be invaluable in understanding your competition and what it will take to win against them.
To find out what other companies think about your competition, you can search for online reviews or ask around in government contracting forums.
By using these techniques to profile your government contract competition, you will gain valuable insights that will help you formulate a winning strategy.
6. Understand their pricing strategy. How do your competitors price their services? What are their discounts and terms? Knowing their pricing strategy will help you determine if they are a competitive threat.
To learn about your competition's pricing strategy, look at their website and marketing materials. You can also ask other government contractors for information about your competition.
7. Review their proposal submissions. If your competitor has submitted a proposal for the same contract you're bidding on, review their submission. What did they include? What was their approach? What did they do well? Knowing what your competition has proposed will give you insights into their thinking and help you develop a more effective proposal.
To review your competition's proposal submissions, you can request them from the government agency that issued the RFP. You can also ask other government contractors for information about your competition's proposal submissions.
Profiling your government contract competition is essential to winning contracts. Use these seven techniques to gather intelligence on your competitors and give yourself a leg up in the bidding process.
Navigating the competitive landscape of government contracting can be difficult, but with the right techniques, it doesn't have to be. At TVA Consulting Group, our team of experts is equipped with the knowledge and experience to help you profile your competition and gain a competitive edge. If you're looking to stay ahead of the game, check out our blog on 7 techniques to profile your government contract competition, and if you need additional help, don't hesitate to reach out to us. We're here to help you succeed.