What exactly is an RFP?
Request for proposal is created by businesses during the time they need a product or service they can’t cater for themselves. In this case, RFP’s help outlines a few important and sensitive details, which are then sent to the businesses that can complete the work.
A fair example would be a landscaping company that wants to market themselves through the website and social media. For marketing of this service, the company will send a digital marketing RFP to agencies that are qualified in doing so.
The companies that would be interested in the RFP and marketing a certain company will provide a personalized proposal response as well. The main company will go through the response and this process is followed by some interviews, meetings, obtaining references, and requesting bids.As soon as the process is finished, the project will be issued to the digital marketing firm i.e. the vendor.
Most of the time, the project manager of the member of the marketing firm or communication team will be told to write the RFP due to their familiarity with the process and project. All companies look for the most suitable department or member to write a comprehensive RFP that will help achieve promising marketing results.
Why is an RFP sent for marketing?
There are a lot of reasons why organizations send RFP’s. This includes being able to make informed decisions right for both the parties, most for the vendor.
- RFP’s help with finding the best and qualified companies for your project, as the response helps you see which agency has thoroughly considered your RFP and is determined to accept it.
- Through the RFP’s you can get the best and affordable solutions, due to vendors competing in the market for such a job opportunity.
- RFP’s help with comparisons between two good options, as the agency can consider which company would provide them with better benefits.
- There is the insight gained through the RFP’s of the quality of the bidder and helps you know which vendors are unqualified to weed out.
What should a Marketing RFP consist of?
Deciding what to include in a marketing RFP can be a tricky business. A member should be able to make a marketing RFP comprehensively meeting all the guidelines. Enough information needs to be added within the RFP, including the goals, scope, and aims of the project so that the response could be expected. However, it is best not to include general things that would make the RFP sound informal. Use the guide below to understand how a marketing RFP is made:
You need to start with the basics and give an overview. This includes the important and essential information. Like a brief company introduction and then the history and scope of the project.
After the company intro, make sure you include a concise overview of the project and what motivated its head start. State the goals and aims of the project clearly, especially the expected outcomes of the project. This is like a statement of work that defines the scope of the work.
In the case of RFPs, including the budget always remains an important point. It can be considered risky. But also an important step. However, if you decide to include the budget, make sure it doesn’t consist of the intangibles.
A detailed timeline of the project including the specific due dates and deadlines should be included.
In the case of details. The RFP should consist of the phone numbers, emails, and addresses of all those important figures involved with the project. It is also important to guide them on how to submit their response to the proposal for request, and contact details are a must.