Beyond Referrals Professional Services RFP Survey

Hi folks,

Thanks to those that completed the Beyond Referrals Professional Services RFP Survey last week. In just a few days we received 153 responses. The entire report is shared at the link below but here are the top four most interesting points…

1. Many Professional Services Firms Never Win an RFP

33 Firms replied that they never win an RFP. If we remove the 18 firms that said that they never respond to RFPs (so of course they will never win) then that leaves 15 firms out of 135 (153-18) or about 11% of all firms that respond to RFPs NEVER WIN A SINGLE ONE.

Ouch.

2. Two Thirds of Professional Services Firms Win 30% or Fewer RFPs

Over the years I have asked hundreds of firms what their RFP win rate is and the most common answer I hear is “somewhere around 20 or 25 percent”. The results from our survey are consistent with that indicating that 64% of the respondents (after factoring out those that do not respond to RFPs) reported their win rate as being between 0 and 30 percent.

3. Of Those Professional Services Firms That Do Respond to RFPs, Two ThirdsĀ  Respond to Ten or Fewer RFPs Each Year

This makes sense given that the majority of our respondents (53%) were smaller firms with 10 or fewer people meaning the burden of RFP response would have a low limit.

4. Twelve Percent of Professional Services Firms Do Not Respond to RFPs

That’s a good place to be if you can be there.

 

RFP Survey Cover

 

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The Consultant with Pink Hair

"This should be required reading for consultants AND their clients - especially the part about RFPs." - Blair Enns, Win Without Pitching

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