What Is a Bidder Comparison Matrix?
A bidder comparison matrix is a powerful tool used to develop the proposal strategy. It helps the user find ways to distinguish the organization, improve its value proposition, and even forecast possible teaming arrangements. Where the stakes are high and the environment is competitive, development of a bidder comparison matrix is essential.
How Is the Bidder Comparison Matrix Created?
Development of the matrix begins with capturing the proposal evaluation criteria, customer hot buttons and preferences. A primary source of this information is the Request for Proposal (RFP). Other sources include the customer, the customer website, social media accounts, colleagues, online searches, industry news and public records.
Next, the user assigns a weight to each evaluation criteria. Items are weighted because some matter more than others. For example, on a custom software development project, the preferred technology may matter more than whether all programming personnel perform project work onsite. To account for this, use of the preferred technology is weighted more.
The user’s organization and the potential competitors are listed and, with respect to each evaluation criteria, they are ranked. Is your organization the only one who programs in the desired language? If so, yours would receive the highest rank.
Lastly, concerning each evaluation criteria, a score is provided by multiplying the assigned weight by the rank. The scores illustrate the competitiveness of each bidder as it relates to issues that concern the customer.
Who Develops the Bidder Comparison Matrix?
The matrix may receive initial information from the proposal manager or coordinator after they’ve reviewed the RFP for evaluation criteria. Additional input regarding the customer and competitors will be captured by either the business development team or members of the capture team.
What Are the Inputs?
To complete the bidder comparison matrix, you’ll need customer intelligence and competitive intelligence. Information regarding the customer and their stated evaluation criteria can be found in the RFP. Regarding unpublished preferences, issues and hot buttons, information can be found by talking to colleagues and employees, performing online searches and examining public records. These sources are also good for learning more about the competitors.
How Is It Used?
The bidder comparison matrix captures customer and competitive intelligence in one location so it can be used to identify strengths and weaknesses of your organization and of competitor organizations. Once identified, the information enables strategy development.
Need Additional Support?
Need more than bidder comparison matrix to help develop your proposal strategy? Don’t hesitate to contact us. Our specialists average over 20 years of experience producing competitive proposals. We offer expert capture management, proposal management, proposal writing, graphic design and orals coaching services.