Welcome back to another insightful episode of Smart Consulting Sourcing. I am your host, Helene, and we continue our journey into the world of consulting procurement, where we strive to arm you with the knowledge and skills to “Buy consulting services like a pro”.
Get ready for an often overlooked, yet crucial topic we’re diving into today: providing feedback to the consulting firms that didn’t make the cut. But before we delve into that, let’s quickly recap the highlights from our previous episode. First, it’s important to establish your Best Alternative to a Negotiated Agreement (BATNA) by exploring fallback options and evaluating their potential value. Next, understanding the Zone of Possible Agreement (ZOPA) is key to identifying mutually acceptable deals and maximizing value in negotiations. Once you have that foundation, address the key elements of the proposal, such as scope, deliverables, expertise, and project duration, and negotiate for an outcome that aligns with your objectives. Don’t forget to scrutinize the proposal’s details to identify areas for potential cost savings, including travel expenses, project ramp-up and ramp-down, and external expenses. By optimizing these factors, you can maximize the value of your consulting partnership.
And speaking of giving feedback, don’t forget you can catch up on all our previous episodes on popular podcast platforms like iTunes, Spotify, or YouTube. And, of course, all the transcripts are available on the thought leadership section of our website consultingquest.com.Stay up-to-date with the latest tips and strategies for smart consulting sourcing. And if you enjoy our content, we’d love to hear your feedback and support. So don’t hesitate to show us some love!
Now, let’s shift our focus back to the fascinating world of giving feedback to the consulting firms that didn’t quite make the cut. We’ve reached a critical point in the procurement process where you’ve made your decision and are moving forward with your chosen proposal. But hold on, we can’t forget about the other consulting firms who put in their best efforts but unfortunately didn’t win the project. It’s time to give them some feedback, and trust me, it’s more important than you might think. So, grab a cup of coffee, sit back, and let’s explore why providing feedback is essential and how you can do it effectively, whether you have plenty of time or need to provide a quick response.
Why Should You Care About Giving Feedback to the Consulting Firms That Didn’t Make the Cut?
Here’s the thing: they actually crave your feedback. They know just how valuable that information is and how it can help them improve.
Think about it. When it comes to sales effectiveness, consulting firms often rely on simple win/loss measures. But what they really need is some real, honest feedback from their clients – that’s where you come in. By sharing your insights about their proposals, presentations, pricing, or even the competition, you’re giving them the opportunity to learn and grow.
Remember the wise words of Peter Drucker: “If you can’t measure it, you can’t improve it.” Your feedback becomes the measurement that helps these consultants continuously improve their services. And who knows? Somewhere down the line, you might need their expertise again. By nurturing a long-term relationship and supporting their development, you’ll reap the benefits of higher quality, better pricing, and more transparent collaborations.
So, while it may feel like a small effort on your part, giving feedback is a win-win situation. You provide invaluable insights, help these consulting firms compete better in the future, and ultimately enjoy the perks of an improved partnership. It’s all about fostering growth and creating lasting connections. To dig further into this topic, read this insight, “Supplier Relationship Management for Consulting: The Definitive Guide (2023)”.
When Is the Optimal Time for Giving Feedback?
Now, let’s talk about how and when to deliver the news to the consulting firms that didn’t make the cut. Timing and communication are key in this process.
First things first, it’s essential to have a solid plan B in place before informing the other consultants that they didn’t win the project. By maintaining a backup option, you’ll be in a stronger position to negotiate with the chosen “winner” and ensure you get the best possible outcome.
Instead of completely disengaging with the consultants you didn’t select, take the time to explain why you decided to go in a different direction. Provide honest feedback about the strengths and weaknesses of their proposal and how it could have better aligned with your expectations. This open and constructive communication can help them improve their future proposals and enhance their competitiveness.
However, it’s important not to delay the communication too much. Consultants need to quickly shift their focus to other projects and reallocate their resources. By promptly informing them of the outcome, you’re not only respecting their time but also benefiting their other clients and indirectly yourself.
The best approach is to arrange a short meeting or phone call where you can personally deliver the news, share your thoughts, and address any questions they may have. This allows for a more direct and meaningful conversation. However, if a meeting is not feasible, a well-crafted and thoughtful email can also serve the purpose effectively.
What’s the Most Effective Method for Conveying Your Feedback?
Remember, the key is to provide clear and transparent communication while maintaining professionalism and respect for the efforts they put into their proposals. It’s an opportunity for growth and learning for both parties involved.
How exactly can you do that? Don’t settle for a simple “win or lose” announcement. Instead, dive deeper and provide a more detailed analysis, highlighting both the strengths and areas for improvement. Give their proposal more substance, adding flesh to the bones, so to speak.
Tell them how they fared overall: Share your thoughts on their proposal. Was it impressive? Just okay? Did it blow your socks off? Give them an honest evaluation of their approach, pricing, and how well they fit the project.
Be transparent about why they didn’t make the cut: It’s time to spill the tea! Explain the specific reasons why their proposal didn’t quite hit the mark. Did it lack a certain je ne sais quoi? Did it fall short in comparison to the competition? Dish out the details, my friend.
Offer some friendly advice: We’re all about helping each other grow, right? Give them some pointers on how they could have knocked it out of the park. Whether it’s improving their proposal, jazzing up their pitch, or building a better relationship with you, share some insider tips to help them up their game.
Putting Feedback into Action: A Real-Life Consulting Project Example
Let’s start by highlighting what was good in their proposal:
☐ The RFP Factory concept was quite intriguing, showing creativity and innovation.
☐ The pricing was competitive and fell within the medium range (although specifically for a 6-week duration).
☐ Their company boasts a worldwide reputation for delivering exceptional performance on purchasing projects.
Now, let’s discuss why they weren’t chosen:
☐ The proposal lacked an implementation phase, which other proposals included as a crucial component (with a 6-month duration including negotiations with key providers).
☐ References indicated that their experience in the pharmaceutical industry wasn’t recent enough.
☐ The project’s short length of 6 weeks raised concerns about the potential limitations on knowledge transfer.
But hey, here’s what they could have done better:
☐ Review the proposal and fix any typos (like having the wrong name for the client).
☐ Include the resumes of the project team in the proposal to provide a better understanding of their expertise.
☐ Provide clearer explanations for the pricing, such as why it starts from January 1st.
☐ Make an effort to meet the client for the briefing and/or proposal to establish a stronger connection.
☐ Align with the RFP timing to ensure proposals are submitted in a timely manner (theirs arrived almost a week after the other candidates).
I’m sure you can see now the tremendous value that consulting firms derive from receiving such detailed feedback. Trust me, they are always thrilled when clients take the time to debrief them. It shows that you value their efforts and are invested in helping them improve. It’s a win-win situation where both parties can learn and grow together.
Another effective approach to providing feedback is by using a comparison table that lists the criteria on the left-hand side, with two columns for the evaluated consultant and the winner. This table allows for a clear visual representation of how each consultant performed in relation to the criteria. By incorporating the grades determined during the evaluation session, you can objectively assess and communicate the strengths and weaknesses of each consultant’s proposal. This method provides valuable insights and helps the consultants understand where to improve in future opportunities. It’s a structured and informative way to deliver feedback that encourages growth and drives excellence.
If you don’t have the time or all the necessary information to provide comprehensive feedback, a short email can still go a long way. Here’s an example:
“Dear Joe,
Firstly, we want to express our gratitude for the effort and high-quality proposal your company provided. After careful evaluation and comparison with other proposals, we regret to inform you that we have chosen another consultant for the project.
Here’s some additional feedback on our decision: We found your approach relevant, and your pricing aligned with our budget. However, another consultant made a stronger impression with their technical proposal and presentation.
We hope you understand our decision, and we genuinely appreciate your efforts. Rest assured; we will keep you in mind for any future projects that align with your expertise.
Best regards,
Hélène”
Feedback Fosters Collaboration and Growth
Remember, giving feedback in a constructive and informative manner not only benefits the consultants but also helps build long-term relationships, fosters improvement, and ultimately elevates the procurement game for everyone involved.
Now, here’s a little secret: feedback isn’t just beneficial for the consultants—it’s beneficial for you too! By actively seeking feedback and listening to your consulting partners, you gain valuable insights into the consultant’s journey throughout the project. This allows you to understand their perspective, identify areas for improvement, and enhance supplier competitiveness. It’s a win-win situation.
When you open the door for feedback, you create an environment of collaboration and continuous improvement. You become a partner who is committed to good practices, openness, and transparency. Hearing from your consulting partner about the successes and failures of the relationship and the project helps you uncover valuable lessons. It empowers you to make adjustments, refine your processes, and work towards better project implementation in the future.
So don’t be afraid to ask for feedback and embrace the opportunity for growth. Remember, feedback is a powerful tool that can propel your procurement journey forward and lead to more positive outcomes. Together, through open communication and a willingness to learn, we can elevate the consulting procurement game and achieve remarkable results.
As We Wrap Up Today’s Episode, Let’s Summarize the Key Takeaways:
Giving feedback to consulting firms that didn’t make the cut is crucial for their improvement and future success. It provides them with valuable insights and allows them to compete better in similar opportunities.
When providing feedback, go beyond the “win or lose” announcement. Offer a comprehensive evaluation of their proposal, highlighting the strengths, areas for improvement, and specific actions they could have taken to enhance their chances.
Consider using a comparative approach by evaluating their performance against the criteria defined in your RFP. This method helps consultants understand their positioning and identify what they need to improve to secure future projects.
Utilize tools like tables to present feedback in a structured and organized manner. This makes it easier for consultants to comprehend and take action based on the evaluation grades.
Feedback is a two-way street. Embrace feedback from your consulting partners as well. Learn from their insights, successes, and failures to improve your own practices and foster better project implementation in the future.
Remember, feedback is a powerful tool for growth and continuous improvement. By providing constructive feedback and being open to receiving feedback, you contribute to the overall development of the consulting industry and pave the way for successful collaborations. Keep the lines of communication open, stay committed to good practices, and watch your procurement journey thrive.
Thank you for tuning in to today’s episode. If you enjoyed our discussion and found it valuable, make sure to subscribe to our podcast and share it with your colleagues. We have more exciting episodes coming your way as we continue our series on “How to buy consulting services like a pro.”
Next week, we will dive into a two-part episode on how to write a consulting agreement. We’ll begin by exploring the Statement of Work (SOW), where we’ll discuss the essential elements, best practices, and tips for creating a comprehensive and effective SOW for your consulting projects.
In the following episode, we’ll delve into the terms and conditions of a consulting agreement. We’ll uncover the critical aspects to consider, potential pitfalls to avoid, and strategies for negotiating favorable terms that protect your interests while fostering a successful partnership with your consulting firm.
So, mark your calendars and join us for these informative and practical discussions.
Till then, stay safe and keep up the smart consulting sourcing game! If you have any questions or need further assistance with consulting procurement, you can find me on LinkedIn or email me because I am always game for a chat.
Au revoir, and happy sourcing!
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