When should a software company bid on an RFP? The answer goes beyond waiting for the perfect “golden RFP.” A strong RFP strategy is about building your brand, consistently positioning your company as a valuable solution provider, and forcing organizations to take notice. While a "golden RFP"—one where the requirements perfectly align with your expertise—should be a priority, bidding on RFPs should also be part of a broader approach to increase visibility, even when they aren’t a perfect fit.
An RFP is not just a transaction; it’s a conversation. By responding thoughtfully, you gain insight into a business’s core needs, uncovering opportunities to show how your solution can go beyond the basic requirements. A well-crafted response demonstrates your industry knowledge and expertise, even if you’re not the obvious choice.
However, it's important to identify RFPs baked for a competitor. Look for specific language, biased requirements, or technology preferences that narrow the field to one vendor. Instead of walking away, use this as a learning opportunity to shape your product roadmap, messaging, or future RFP strategies. Every response builds your brand's credibility and creates more opportunities for companies to consider your solution in future bids.