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13th April 2015
In 2014, as the industry began to emerge from recession, MarketingWorks, in association with Professor Will Hughes of the University of Reading, updated their 2003 research to assess bid cost investment in the construction industry.
The data was collected by reference to actual projects and was analysed to discover what can be learnt, not only in the cost of bidding for work, but also how differing behaviours and approaches have influenced whether a company wins or loses the bid.
In addition to providing some interesting indications on how and why a bid is successful, the survey also highlights that bidding for work is a complex situation with many variables, often particular to individual companies, and many companies fail to capture bid cost information and to fully evaluate their own specific market and processes. This has a real and clear impact on the profitability of the company, and is an issue that the industry needs to address.
Overall this survey suggests that when consultants and contractors invest more in the work-winning processes, they are more likely to win. However, it is not only the gross amount of time spent that results in winning bids, but the specific activities where the time is then invested. These, in most cases, are activities focused on the specific client, i.e. client-centric, aligned activities.
Key findings include:
For further information about the research, visit the MarketingWorks website.
Kirsty Maclagan (Marketing and Communications Manager)
T: +44 (0)1202 786 842│E: email@example.com
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