In an LPTA world, the challenge many government contractors face is articulating their value proposition while being the most cost-effective bidder. Even when the customer must heavily weigh cost in the selection decision, the bidder’s value proposition can influence the outcome. The key is in knowing what factors your customers really feel are important.
To find out what your customers think is important, you need to ask. And the best way to do that — to get a truly unbiased opinion — is with third-party market research. This type of research gives you real data — including customer perceptions — that help you develop a compelling win strategy to put you ahead of your competitors. It arms you with the insights and competitive intelligence that positions your company to beat the competition.
The two most common types of research contractors use to find their competitive edge are New Pursuit and Capture Research and Competitive Profiling.
New Pursuit and Capture Research tells you exactly what you need to know to position your company for the win, such as whether you are well positioned to win. It also tells you:
- The key evaluation criteria, needs, desires and expectations of decision-makers.
- What the government customer thinks of you and your competitors.
- Whether you have the most effective strategy for winning new programs or recompetes.
- The types of opportunities you are most likely to win.
- The win themes and messages that are likely to resonate.
- How your offerings stack up to those of competitors.
Competitive Profiling compares your offerings and business functions against those of your direct and indirect competitors. These studies establish a baseline against which you can benchmark your process and product improvements. The result is a competitive edge that is sharpened with real market feedback rather than guesswork and assumptions. Specifically, these studies provide:
- Comprehensive profiles of competitors.
- Comparisons of your and competitors’ current contracts, offerings, pricing, customer bases, positioning and market strategies.
- Perceived differentiators of you and competitors.
- Your market share relative to those of competitors.
Not only does research give you the intelligence you need to win, but it also can save your company hundreds of thousands of dollars. Now that is an investment that makes sense.