The construction industry experienced a setback when the pandemic started over a year ago. But companies remained resilient and were able to bounce back and stay afloat in the middle of the health crisis. And as the economy starts to recover, companies will have many projects that they can bid on.
But one thing that these companies had to deal with was the complex bidding process in winning a project. Even as they tried to remain profitable, construction companies had to lower the cost of the project to win a contract.
Here are some tips that construction companies can consider to increase their chances of winning a contract during a pandemic.
Choose the Projects to Bid On
The shortage of houses available in the market amid an increase in demand provides a good option for companies looking to win construction projects. But construction companies should evaluate the project’s profitability and focus on making proposals for projects that they have a better chance of winning.
For instance, they might need to focus on sending a well-crafted proposal for three projects suitable to their capabilities than sending proposals to 10 projects that they might not be able to handle. Companies should focus on projects that fit their niche in the industry.
Focusing on these projects builds their reputation, increasing their chances of winning a contract even if they do not submit the lowest bid. It will also increase their retention rate for existing customers, who might recommend them to their associates.
Connect with the Decision-Makers
Construction companies should also try to connect with decision-makers and gain their trust. Even as they work with people who facilitate the bids, they should also find out who are the persons who make the final decision about the projects.
To find the decision-makers, construction companies can check the organizational structure of their potential client. The decision-makers are normally the ones on top of the structure. After identifying the decision-makers, construction companies can discuss the project with them and gain their trust.
Trust is among the things that people consider when they do business with someone else. So creating a personal relationship with decision-makers shows the company’s human side, which can help gain the trust of the decision-maker.
Highlight Your Capabilities
When connecting with decision-makers of potential clients, construction companies should highlight their capabilities in the industry. They should focus on the reason why they should work on the project of the client. Companies can also show their portfolio of projects to demonstrate their capabilities and enhance their reputation.
Their reputation may give them the upper hand when their bids are close to other companies’ bids. They should also focus on the value that they bring to their clients. They should not limit themselves to the price of their bid. There are instances when clients choose a higher-priced bid due to the value that the bidder brings to the table.
Construction companies can also look for a foreign-born architectural professional who has experience working on big projects abroad. This professional can add to the value they can provide to their client, especially if the professional’s projects are high-profile.
But construction companies should make sure that the professional has the certifications to allow them to apply for a work visa. The visa application is similar to when a foreigner books a CSCS blue card in the United Kingdom. The card shows the competency and skill of the foreign national in the profession he is practicing in the immigration department.
Check the Competition
When bidding on a project, construction companies should also check their competitors in the project. Even as they should be the first company to send a proposal, they should also know who they are competing with to make the necessary adjustments to their proposal.
They should check the criteria of their competitors and try to offer more to the table. They should not focus only on the price since they can offer more value to their bid, such as their experience in working on similar projects. They can even highlight the professionals who work with them in these projects.
Construction companies should sell themselves to potential clients and demonstrate that they can provide better services than their competition. But they should avoid putting down their competition to show that they respect their colleagues in the industry even if they compete with each other.
Winning bids in the construction industry takes a lot of work for companies, especially in the middle of a global health crisis.