Winning tender bids, part 7.

One of the key factors that you need to get just right when submitting a tender bid is the price that you submit at.

This aspect of tender bidding is always a difficult one as you can get stuck between trying to put in a really low price with the notion that you will come out on top because you are more affordable than everyone else and submitting a price that would mean big money if you were successful.

Even now, amidst a global recession, contractors are not looking for cheap and this is a big mistake made by many tender bidders. It is a mistake both in the fact that a very cheap bid could signify a potentially low quality job to the contractor, but also because you will probably be under selling yourself. 

What contractors are looking for is value for money and that means putting a fair price on the service or product that you offer. 

What you can do to make your bid stand out in terms of price is highlight what exactly makes your offer value for money, especially in the long run. Will your product or service help the contractor lower their running costs? Will it add a new line of revenue? Will it help streamline their business in anyway?

It's not about being the cheapest, it's about offering the best service possible at a price that's right for you and the contractor.