Archive | November, 2013

E-Portfolio Assignment – Key Account Manager RFP Analysis

19 Nov

The assignment included for review is an RFP process analysis that was recently completed for a Business Development class. To complete the assignment I, along with my two teammates, interviewed an account manager to gather insight into the RFP process used by her company. From analysis of information given by the key account manager, some best practices regarding the RFP process have been developed. They include:

  1. Be concise – The initial review of an RFP response is commonly a quick scan, not a thorough and thoughtful analysis. This leads to responses being rejected on the basis of how they look rather than the content. Therefore it is important to be quick and to the point. If the agency has what the prospect is looking for, it will be seen immediately.
  2. Customize the response – Almost every agency has standard language to describe their philosophy, their capabilities and their process. Agencies should never “mail it in” by simply cutting and pasting from a previous submission. Every question is an opportunity to demonstrate understanding of the category, the audience, and the prospect. Whenever possible, responses should be framed in a way that demonstrates knowledge of the client’s brand, market environment or audience.
  3. Address the prospect’s criteria, not your own agenda – everything you say should be relevant to the client and the assignment by addressing the specific criteria the client has identified as most important.
  4. Demonstrate your creativity and professionalism in the response – the RFP response is an opportunity to establish your agency as a professional resource that can solve a business problem and help them sell a product or service. But the RFP response is also an opportunity to provide a statement of your agency’s style and creativity as well as your salesmanship.

Through this I have learned how the RFP process works and can apply this understanding to an RFP response should I ever encounter one in my career. The best practices listed above will help guide me through creating an effective RFP response and how to incorporate all of the key elements to my advantage.

See link below for full copy of the key account manager RFP Analysis:

Key Account Manager Interview Report e-portfolio adaptation-3