18 Jun Emerging Trends And Innovations In Bid Writing
By taking advantage of the latest trends and technologies, you can make your bid writing processes both more efficient and more successful. This can help to save your business time, money, and energy, deliver improved results, and ensure continuous growth.
In this article, we will discuss the emerging trends and innovations in bid writing, and outline how they can be incorporated into your bid writing procedure to deliver improved outcomes.
Artificial Intelligence (AI)
AI tools are becoming more common in the bid writing field, and while they have many limitations, when used effectively, they can offer businesses some advantages.
For instance, while AI cannot produce a high-quality bid from scratch, it can be used to create an effective bid template, which can then be filled out and edited to reach the required standard. AI tools can also help to automate routine tasks, such as summarising the key information provided in a tender document.
Tools that use machine learning (ML) can even be used to analyse any datasets you give them, which can help to identify any patterns or common themes in recently successful bids. You can then use this information to tailor your upcoming bids and give them the best chance of winning the contracts up for grabs.
Sustainability And Social Value
With increasing legislation – such as the Environment Act 2021 – being introduced to regulate the environmental and social impact of businesses, many companies are now under increasing pressure to demonstrate that they can deliver on sustainability and social value goals.
For instance, in recent years, there have been reports of a significant increase in the frequency of bid questions that relate to sustainability – and of the responses to these questions being weighted higher in bid marking schemes.
Remember that sustainability and social value are not just tick-box exercises; they demonstrate to the buyer that your business is passionate about making a positive impact in the local community.
That’s why emphasising your commitment to social value can help your client feel more connected to your business, your ethics, and your passions, helping you to make a memorable and positive first impression.
Visual Analytics
Visual analytics tools can help to present data in a format which makes information simpler to understand and patterns easier to see. For example, interactive graphs and charts can bring sales figures to life in a way that is easier to digest.
These visual tools can serve a variety of functions – like for example, showing how certain Key Performance Indicators have improved or declined in recent months, or comparing and contrasting information about what your target customers are looking for versus what existing clients say you provide.
Visual tools can also help to efficiently emphasise any relevant information that can be used to improve your bid process or overall business operations. For instance, if you have targets in mind regarding how many new clients you wish to sign up per quarter, visual analytics can help you stay informed about your progress towards this goal, and alert you if you’re on track to fall short.
Collaboration Platforms
When multiple members of staff are working on different aspects of your bid response, it can be difficult to manage timings and workflows effectively.
Collaboration platforms aim to overcome this challenge by enabling bid writers to communicate and collaborate with other team members online, from anywhere in the world, all while assigning and monitoring tasks and tracking progress.
This not only helps boost your efficiency, but also improves the quality of your bid by ensuring a consistent writing style and promoting effective information sharing and feedback.
In addition, by using a collaboration platform you can store your centralised bid library online, allowing your business to manage the bid library more easily.
Bid Intelligence Services
Bid intelligence services – like those we provide, for example – deliver in-depth bid research and analysis for your industry that may be difficult to source online. This can give you a significant advantage over your competition.
These services can be used for conducting your own market research or investigating a competitor to ensure that your company maintains its edge over them, while other types of bid intelligence service focus on the development and implementation of effective bid strategies according to the needs of your client.
Take Advantage Of Trends To Stay Ahead
Staying current with the emerging trends and innovations in bid writing is essential for gaining and maintaining a competitive edge.
Thankfully, by harnessing the latest technologies and approaches, companies can streamline their bid writing processes, manage resources effectively, secure higher success rates, and achieve greater business growth.
Want to win more work for your business by using cutting-edge technologies and tactics? Make sure you contact us!
