How do you know it’s worth your time and effort to answer the RFP?   You don’t; but at least you can narrow your odds.  Try to find out how many received the RFP.  Our rule of thumb is eight agencies or less – and we may consider submitting.  When the Port Authority was looking for an agency to handle a special project a few years ago, they held a Question/Answer meeting where about 100 folks showed up.  Needless to say, we didn’t submit.  Another consideration is prior experience in addressing the anticipated outcomes in the RFP.  If you’ve done it well for someone else, you likely have an edge in the “shoot-out.”

I was once asked by a national trade association to fly to Chicago to make a presentation when they were looking for a new agency.  I knew the executive director and made one comment, “I will only attend if you guarantee you are going to select an agency at the end of the day.”  Ultimately, we didn’t get the work, but he did engage an agency. 

I ask for that agreement because we’ve filled out a lot of RFP’s over the years only to find out later that the group decided to do nothing at all.  That’s a lot of work for nothing; not just for our agency, but multiply it by eight or ten other groups who also submitted. 

Recently, a service organization put us and eight other agencies through the hoops for a rebranding campaign.  Six months later we learned they were “moving in a different direction.”  I should have been suspicious when their RFP requested mountains of information, including organization charts of who would be performing the work.  It was obvious they had used a “canned” RFP format that would have been appropriate for a multi-million dollar project, but this was a relatively small project.  We only submitted because we fulfilled the second consideration –having had previous experience with this type of client. 

On the flip side, I’ve also been on the requesting end of RFP’s as an officer for a non-profit organization.  I recently put one out to only three agencies, all of a scale that fit the needs of the non-profit.  Each knew that only three had received the RFP.  Surprisingly, only one responded, saying they weren’t interested.

Some agencies rationalize not responding by saying it detracts from their clients’ ongoing work.  Why go to the expense of doing speculative concepts and creative work, with a likely less-than-10-percent chance of getting the job?

So, do you invest the time to answer an RFP that may or may not ever be funded?  If you do, try to narrow your odds.  If you don’t, take that time to deliver an even better product or service to your existing clients.  Odds are, they’ll notice and want to do even more work with you. 

About that rebranding campaign –when I told my business partner that we didn’t get the work, his response was, “Good.  They weren’t the kind of client you would want to work with anyway.”

He was right.

Ralph Yearick is CEO of Yearick-Millea, a full-service business-to-business marketing communications agency.  You can reach him at 412-323-9320, or ryearick@yearick-millea.com

Wow, what a difference!

Recently, I was watching a reality television show where a group of well-known chefs audition different restaurateurs for possible funding of their new dining concepts.  One was a former football player who was in the midst of “making the cut.”  While he was passionate about his concept, he was missing some of the critical details to make it a success.  Bobby Flay, who headed the chef’s group, reminded him that when he played ball, he didn’t succeed in every play.  The important point is that he was in the game and in play.  He was taking risks to realize his dream.

So when was the last time you took a risk for your business?  Hired a new employee?  Utilized new talent?  Tried a new program or process to improve the business?  Too often, we stay with the tried and true ways, expecting phenomenal new results from practices that previously provided mediocre outcomes.

It may be time to take some new risks.  We have in our business.  A new staff member has business development experience honed from decades of one-on-one encounters with business and marketing professionals.  He brings an added dimension to the agency with new services to sell that are beyond our previous scope of work.  It’s pushing our comfort zone, but promises a new profit center if he succeeds.

And taking risks isn’t limited to your business.  What new thing have you tried in your personal life?  I recently took up hand-bell ringing, after little involvement with music in the past 30 years.  It’s challenging and definitely out of my comfort zone, but rewarding when we “get it right.”  In a recent concert, I estimated we got three out of four pieces “right.”  As Bobby Flay noted, you don’t succeed in every play, but you don’t quit the game either when you make a bad play.

As marketers, we’re always trying new things.  New tools, like social marketing and virtual conferencing, offer new ways to reach traditional target markets.  Some may wonder how long Twitter will last.  One commentator mused that after two years, many will wake up and say, “Why did I waste so much time with Twitter?”  But in the meantime, it’s a force to reckon with.

Fads and trends come and go.  Successful people capitalize on them.  Mediocre folks ignore them.  Playing to them can be risky.  But the occasional “win” makes it all worthwhile.

The next time you are contemplating a change to your business, or an opportunity pops up to try some new skill or visit a new spot, turn your head to one side, recall your mother’s voice, and hear her say, “Take a risk.  Try something new.”

–Ralph Yearick is CEO of Yearick-Millea, a full-service public relations and advertising agency specializing in business-to-business marketing, green marketing, and trade association management.  Contact him at ryearick@yearick-millea.com

That referred to a line often quoted by motivational speaker Earl Nightingale about choosing the right kind of clients.

He said northbound trains are those who need and want your services, and can afford to pay for them.  Eastbound trains are those who need and want your services, but can’t necessarily afford them.  Southbound trains are those who don’t need or want your services, but can readily afford them.  And westbound trains are those who don’t need or want your services, nor can they afford them.  Nightingale’s advice is to focus only on northbound trains.  Anything less will just hamper your business.

I once called on a hospital foundation about an hour’s ride from the city.  They were interested in doing a direct mail program to solicit donations.  After meeting with the foundation director, I was turned over to a young summer intern, who gave me the parameters for quoting the job.  We submitted our proposal.  Later, I was called back to their office and given new parameters and asked to re-quote the job.  This occurred four times.  Finally, I told the young woman that our business is getting the work done — not endless quoting of projects.  She took the hint and didn’t call back.

That was clearly an eastbound train. 

While we sometimes want to take work just for the cash flow it brings, we’re really working against our long-term goals for a successful business.  We need to focus on growth more than immediate cash flow.

This was succinctly stated in a recent American Marketing Association newsletter in a quote by Barry Judge, Chief Marketing Officer at Best Buy.  He says, “Once you understand the business and how you make money, you will start to become immune from grandstanding for what Marketing just does.  You will start to label your budget and efforts around growth, and not just marketing, and work with the CEO to help drive the growth agenda.”

Whether a large business like Best Buy, or a small business like a creative agency, the principle still applies.  Successful businesses must focus on long-term growth rather than short-term sales.

Take a look at your customer base.  If you have more than a couple eastbound trains, then they are a serious drag on your business.  Leave them at the station and do whatever it takes to go book another northbound train.

Ralph Yearick is CEO of Yearick-Millea, a public relations agency specializing in business-to-business marketing communications.  Read more of his thoughts on the marketing process at www.yearick-millea.com.