Seven Steps To Start NOW
Introduction
As we approach the end of the Federal fiscal year, the competition to win business heats up. Winners excel at helping buyers get great value while showing timely contract administration and responsible budget management.
For business owners and Federal capture professionals, advance planning and proven tactics can make the most of the traditional fourth-quarter spending skew and pave the way for the new fiscal year that will begin in October. Success requires lead time and a commitment to consistent action long before September.
It’s a lot…but here’s how it’s done.
Step One: Finesse Your Forecast and Reconnect
Preparing for Federal fiscal year-end success starts with refining your forecast and reconnecting with key stakeholders. By revising your pipeline and prioritizing opportunities based on past performance and relationships, you can identify high-probability targets for engagement. That proactive outreach fosters relationship-building and maintains brand visibility.
Step Two: Ask For Referrals
Leveraging referrals from satisfied customers can transform your approach to federal contracting. By seeking introductions and asking for customer feedback, you can expand your reach and credibility within the Federal ecosystem. While those client introductions cannot be explicit endorsements, they serve as invaluable social proof, validate your capabilities and enhance your competitive advantage.
Step Three: Express Gratitude & Strengthen Relationships
The appreciation you express through personalized thank-you letters leaves a lasting impression on contracting officers and end users. Acknowledging their exceptional performance to their management within the agency cultivates goodwill and paves the way for future opportunities. Understanding allowable gifts and compliance regulations ensures meaningful and ethical gestures.
Five Gifts You Can Give Federal Buyers
(and remain compliant with FAR Subpart 3, on Ethics!) You’ll want to bookmark this blog post. Better still, use it as a starting point for a team brainstorm of ideas for each of your key Federal contacts.
Step Four: Be Visible In the Channels Your Buyers Use
Effective marketing strategies encompass a diverse range of channels and tactics tailored to Federal buyers. From social media engagement – especially LinkedIn! – to participate in industry events, each touchpoint reinforces your brand presence and positions you as a thought leader. Leveraging digital platforms amplifies visibility and engagement among key decision-makers.
Step Five: Update and Share Your Capabilities
Updating and sharing your capability statement showcases your expertise and credentials to potential clients. Highlighting past performance and relevant certifications provides decision-makers with compelling reasons to engage with your firm.
If you’re not in the final countdown to September 30th, asking a contracting officer or end user for feedback on your capability statement can also be a starting point for great conversations!
If you want advice, ask for money. If you want money, ask for advice.
~ John Sanders, Publisher Emeritus, Washington Technology.
Win or lose, always ask for a formal debriefing if you’re entitled to one under FAR Part 15, or at least an informal post-bid discussion to explore lessons learned for next time. Soliciting feedback from contracting officers demonstrates commitment to continuous improvement.
RELATED: Tips on how debriefings can help you grow your business MORE >>
Step Six: Refresh Your Online Presence
Maintaining an updated online presence is key. Update links to your partners, your contract vehicles, and any expiry dates on key certifications (particularly 8(a) program status if you have it). Make sure you’re using the most correct data across the full set of profiles you’ve set up on government and industry portals.
Invest your time to proofread to ensure that the information you publish about your company is relentlessly accurate. Consistency also counts! Is your company name on SAM.gov the same as on your Capability Statement and on your web site?
Here’s the top reason why that matters: Contracting officers specifically, and Federal buyers generally, are risk averse. If you’re new to them, buyers are easily spooked. I’ve spoken with more than one Contracting Officer who told me, “If I’m looking at a potential new supplier and their company name isn’t consistent on SAM.gov and the web site, I don’t even call them.”
Your attention to detail gets their attention, for better and for worse. If your prospects notice that you are careless with basics like what you publish about yourself and your company, that instantly lowers their confidence in the quality of performance they might expect to have if they hired you.
How you do anything is how you do everything.
~ Judy Bradt, CEO, Summit Insight
Step Seven: Make It Easy For Them
Do your research: tap past Federal contract award data and get a precise understanding of your buyers’ preferred acquisition strategies and contract vehicles. Then set yourself up – as prime or through partners – to do business the way they like to spend. When you align your offerings (and contract vehicles) with their preferences, you minimize friction and expedite decision-making.
Develop some ideas for how you can help your Federal clients at price points below the $10,000 Micro-Purchase Threshold and the $250,000 Simplified Acquisition Threshold. Better still, capitalizing on micro-purchase opportunities unlocks additional revenue streams.
Three Easy Lessons In Free Federal Market Research
Did you know? You have access to detailed free official contract award data about exactly how your Federal prospects buy what you do. This complimentary guide gets you hands-on to discover how they buy, how much they spent, who they bought from, when those contracts expire, and so much more. Learn how to tap that info today. Download now!
In Closing…
As Federal fiscal year-end approaches, an outsized opportunity to secure contracts and expand market share can be within your reach. By choosing, and consistently implementing, even just a few of the right tactics, savvy GovCons can position themselves for success in the competitive federal marketplace.
From refining engagement strategies to optimizing online presence and streamlining procurement processes, such simple, proven steps maximize opportunities and get you on course for sustainable growth. Embrace the challenge, seize the moment, and ramp up your plans now to grow your Federal business this year with confidence and determination.
Get Your Federal Q4 Wins Moving
Grab this handy infographic and gather your team.
When you chat, divvy up the tasks, set some milestones. Better yet, start each week with a short “stand-up” meeting, recognize progress, and ensure that everyone has the support they need. It’s easy to get everyone generating winning momentum long before Federal fourth-quarter begins.
Judy Bradt is CEO of Summit Insight. She serves established companies who want a private program for 2-6 people who are ready to implement an account-based, relationship-centered approach to grow their Federal business. Find out more here – or use this link to book a call.