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Refining Your Bidding Process

Posted January 2, 2024 by EnerBank USA

bidding process

You know that when a homeowner is seeking out a contractor for a home improvement project, you usually aren’t the only one they speak to. Often, it can come down to which contractor presented the more convincing bid. Does your process need a tune up? Here are some tips to keep in mind when it comes to refining your bidding process.

Don’t Chase Every Job

It may seem counterintuitive, but if you’re spending your valuable time chasing down every lead, the quality of your bids may go down. Focus on the jobs that both play to your strengths and have the higher likelihood of repeat business.

Highlight What Makes You Great

The homeowner asked for a bid because there was something about your business that appealed to them. Share what makes you different from the competition without directly criticizing them outright. It can be helpful at this stage to present reviews from other customers, as social proof has been shown to be more persuasive than traditional marketing.

Focus on Value vs. Cost

One great way to do this is by breaking down the costs associated with the job as opposed to a lump sum. Many homeowners underestimate the cost of their project, especially when it comes to materials. It can help customers gain a better perspective on what they’re paying for. It can also help to do some research so you can show a homeowner how this project can increase the value of their home.

Test What Works & What Doesn’t

It may take some trial and error to figure out what’s going to work best for a bid. Did you present a different message? Did you focus on a different value proposition? Are you winning specific types of jobs? Knowing where you’re most successful can help you create a better strategy and ultimately, win more jobs.

Refining Your Bidding Process

Another great way to strengthen your bid? Offer payment options to your customers as a regular part of the process. Research shows that over 55% of home improvement projects are financed in some way*. By offering payment options to your customers, you establish yourself as their problem solver – increasing the likelihood that they’ll choose you for their project. For the best results, we recommend mentioning the availability of financing at these three touchpoints.

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*HIRI TFG Monthly report, released October 2023


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