Update from ICON regarding COVID-19

Competitive-advantageThe tender process is not just about the numbers, the tender process is about differentiating your business from your competitors – not just differentiating your product features, functions or price. It is the opportunity to highlight the similarities between your business and your potential client to re-assure them of the relationship and service being offered. To catch the attention of prospects you'll need to communicate a value proposition that separates you from your competition. The best way to do that is with a clear and concise value proposition, demonstrating both the tangibles and intangible value of your business. Failure to communicate your unique selling proposition (also known as a USP) is a core reason for not being successful in many tender processes.

An effective USP is not merely a tagline - it is an idea that stands alone and defines your business - allowing you to stand head and shoulders above any competition.

The key to a successful business tender is the clear identification of the value you bring to your clients. Your unique selling proposition is a clear statement of positioning that is at the heart of your business and should focus on the benefits your customers receive from doing business with you.

To maximise your chances of being considered in a tender you have to 'stand out and own the table' with a visually appealing document that complements and reinforces the value story. This gets you noticed and fast tracked to the short list.

The more you can distinguish yourself from your competition and leverage your unique skills, the more your ideal clients will want to work with you and the higher fees and prices you can command.

The key to determining your USP is to understand the total value you provide to your customers This value includes the actual product you sell, the benefits they bring to your customers and a very clear understanding of the overall characteristics of your brand.

Often companies do not understand what the value of their brand is. We identify by what we sell, not what our customers buy. Creating your USP from the position of your customers is the first step to building your brand and to clearly communicating in a tender your competitive advantage.