Collector - October 2016 - 32
How to Create Winning Bids and Proposals
10 tips to catch a creditor's eye and get more business.
By Marc Trezza
high-quality proposal is absolutely
essential to a competitive sales effort.
If every agency is automated, with
flexible software, a dialer and good references,
why should a creditor choose you? How have
you demonstrated that you should be on that
company's short list? Here are a few easy ways
to revamp your proposal process
First, it's critical to think about the buyer
or potential reader.
Most creditors know very little about
how collection agencies function, how they
calculate profit and what the best predictors
of a successful agency relationship actually
are. They have a business to run and
collection is a very small part of it.
As a result, they may not be very
skilled at selecting agencies or writing
RFPs. This is compounded by the fact
that most agency proposals are virtually
indistinguishable from one another.
Collection agencies often default to listing
features that every quality agency has and
noting a fee. This forces the buyer into a
Think of it this way: What would you look
for in an agency if you were the creditor?
This is presuming every agency had the
* A collection management system.
* A dialer.
* References and experience.
* Compliance with state and federal laws
* A firewall and backup system.
Is that all you would want to know? No.
You'd also want to hear specifics about data
security, training, quality assurance (and not
just on the collection floor), available (not total)
volume capacity, collector queue sizes, resources
invested in the collection process, approach to
client service and communications.
Then, after reviewing all of that and
narrowing the list down to the best of the
best, you would look at fee.
Here are 10 basics steps you should
follow when putting together your proposal
1. QUALIFY THE RFP
Be sure it's right for you before you invest
the time and effort in creating a response.
* Can we compete if we win?
* Can and will we meet their ongoing
* Do we have the necessary resources
* Will it lead to other opportunities?
* Can we bid low enough to win,
deliver all the services we will
promise and still make a profit?
* Do we really want it?
If the answers are not "yes," then don't bid.
2. PULL THE RFP APART
LINE BY LINE
RFPs are usually full of cues that will help
you write your proposal. Read between the
lines-multiple times. Evaluate the intent of
the RFP, not just the facts. Carelessness here
will cost you.
3. ATTEND THE PRE-BID
They have become rare; but if there is
one, show up. Send someone who will
represent you well in the meeting, armed
with intelligent questions that show that
Table of Contents for the Digital Edition of Collector - October 2016
Connect the Dots
Head of the Class
The Formula of Five
How to Create Winning Bids and Proposals
A Running Start
ACPAC Election Watch
ACA’s Industry Advancement Program Aids Eleventh Circuit Win for Member Company
Collector - October 2016 - Cover1
Collector - October 2016 - Cover2
Collector - October 2016 - 1
Collector - October 2016 - 2
Collector - October 2016 - President’s Page
Collector - October 2016 - Industry News
Collector - October 2016 - 5
Collector - October 2016 - 6
Collector - October 2016 - 7
Collector - October 2016 - Best Practices
Collector - October 2016 - 9
Collector - October 2016 - FYI
Collector - October 2016 - 11
Collector - October 2016 - Collection Tips
Collector - October 2016 - 13
Collector - October 2016 - Connect the Dots
Collector - October 2016 - 15
Collector - October 2016 - 16
Collector - October 2016 - 17
Collector - October 2016 - 18
Collector - October 2016 - 19
Collector - October 2016 - Looking Deeper
Collector - October 2016 - 21
Collector - October 2016 - 22
Collector - October 2016 - 23
Collector - October 2016 - Head of the Class
Collector - October 2016 - 25
Collector - October 2016 - 26
Collector - October 2016 - 27
Collector - October 2016 - Calendar
Collector - October 2016 - Honor Roll
Collector - October 2016 - The Formula of Five
Collector - October 2016 - 31
Collector - October 2016 - How to Create Winning Bids and Proposals
Collector - October 2016 - 33
Collector - October 2016 - 34
Collector - October 2016 - 35
Collector - October 2016 - A Running Start
Collector - October 2016 - 37
Collector - October 2016 - 38
Collector - October 2016 - 39
Collector - October 2016 - ACPAC Election Watch
Collector - October 2016 - 41
Collector - October 2016 - ACA’s Industry Advancement Program Aids Eleventh Circuit Win for Member Company
Collector - October 2016 - 43
Collector - October 2016 - Compliance
Collector - October 2016 - 45
Collector - October 2016 - ACA SearchPoint
Collector - October 2016 - 47
Collector - October 2016 - Last Word
Collector - October 2016 - Cover3
Collector - October 2016 - Cover4