3 Ways to Optimize your Bidding Process
As a subcontractor, it can often feel like there are so many bids it’s impossible to keep track of them all. Impacts from the COVID-19 Pandemic such as labor, project timelines, rework, and resources are still ongoing. A creative way subcontractors are offsetting these impacts is by implementing a better bid process for them and their team. But, how do you pick the right bidding platform for you?
In this blog, you’ll learn the difference between average and advanced bidding platforms. By investing in the right bidding software for your business you can gain the attraction of general contractors, send quick proof of advanced verification, and ultimately win better bids.
1. Finding the Right Leads
Of course, all bidding platforms allow subcontractors to get their names out there for more jobs, but how do you know if the lead is a good fit for you and your team? Advanced bidding platforms allow you to go after the jobs you know your team will knock out of the park.
Match Your Leads with Your Areas of Expertise
Typically, all bid software platforms have a network of general contractors who send out bids to a directory of subcontractors. To get bid invites, subcontractors set up an account with the bid software platform, and provide information such as trade, and the zip code work area, which will help the platform filter the results to match what the general contractor and subcontractors are looking for.
Both average and advanced platforms use this information to find you leads, but average bidding platforms likely won’t match you with the most compatible leads. On the other hand, advanced platforms provide a more comprehensive filter, allowing subcontractors to be matched exactly with jobs they want, without any excess or random invitations. Similarly, many advanced bidding platforms offer a “type of job” filter, to ensure your team isn’t being evaluated for jobs they aren’t suited to handle.
Never Missing Out on Another Bid
If you’re hoping to use a bidding platform on the go, average platforms may not be ideal to use on mobile devices. Some bidding software platforms are made for computer use only or provide mobile applications that don’t include invitations to bid. Advanced bidding platforms, on the other hand, have mobile apps that are compatible with any smart device, and sync directly to your full software account. The best platforms will put project leads right in your pocket through push notifications and alerts. With a mobile app, like Pantera Tools, you’ll be notified immediately when new bids come in, and if the status of your existing bids has changed. This means there’s no confusion, no delays, and no complicated interface to navigate.
Accessibility and awareness of leadership opportunities are heightened with mobile technology. But, at the end of the day, it’s about the quality and quantity of the leads you find. Sure, you could go out and find more leads than you can handle, but if they aren’t the right ones for your business, they won’t drive revenue and are a waste of your time. Any bidding platform that you invest in should have any lead-quality issue figured out first and foremost if you want to win more jobs.
2. Win the Bidding Process
Once you find the right project, you want to start putting your bid together. Unfortunately, the actual act of bidding is where most of the average bidding platforms fall short. Funnel management, communicating with the general contractors, and limited verification are three features commonly found in average bidding platforms.
Qualification and Verification
Prequalification is a feature that most bidding platforms offer. However, general contractors can be very selective about who they work with, especially when utilizing new subcontractors. Advanced bidding platforms go beyond confirming a subcontractor’s status; they use trained experts to verify your qualification information for the general contractor. For example, these experts confirm your certifications, OSHA logs, or even proof of insurance. These extra steps in the verification process tell the general contractor that the team or subcontractor is a leader in the field, and they should have no doubts about hiring them.
Additionally, advanced bidding platforms offer increased visibility as well. For example, the Pantera Tools platform offers Featured Placement for subcontractors. While using the Featured Placement, subcontractors will be shown at the top of a general contractor’s search result, aiding in getting you noticed before other subcontractors.
The Second Set of Eyes Makes All the Difference
Some of the best bidding platforms go as far as offering their subcontractors a second set of eyes on their bid funnel management. Pantera Tools offers a designated Account Manager for subcontractors who give expert advice on where they can make improvements. Not only does this free up the subcontractor’s time, but the third-party personal connection can drastically increase your bid win ratio over time.
Make a Lasting, Branded Impression
Messaging general contractors from a platform is efficient, but these general contractors get hundreds of notifications. How do you set yourself apart? With advanced bidding platforms like Pantera Tools, you can use custom templates to match your company and brand. General contractors will become familiar with who you are by presenting yourself with a distinct look. Ultimately, the best bidding platforms accentuate who you are and what you do best. Picking the right bidding platform can make sure that general contractors never miss a detail about you and your team.
3. Use Features as a Competitive Advantage
Upgraded features are another area where bidding platforms can help subcontractors gain additional jobs even after a bid has been won. For example, having the ability to directly communicate with your general contractors can help subcontractors keep in front, close any communication gaps, and continue to provide a great working relationship for both parties.
Many average bidding platforms don’t offer these types of features in their software, and the ones that do, provide a very limited experience. Advanced bidding platforms like Pantera Tools give you access to features such as direct messaging, RFI’s, Punch Lists, Scheduling, Document Storage, and even Markups. For a list of all upgraded features, Pantera provides subcontractors, click here.
As we know, the construction industry is quickly changing. From COVID-19 and digital implementation, it’s important for subcontractors to be aligned with these changes. Ultimately, finding the right bidding platform software will help you stay up to date with industry changes, and earn more quality leads for you and your team.
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