What is an executive summary in a tender?
All tenders should start with an executive summary. The executive summary is your chance to demonstrate your understanding of the prospective client’s needs and objectives, and to present your value proposition and the benefits the prospect will gain by choosing to work with you. It’s also the place where you can introduce your experience by briefly describing how you’ve delivered your product or service successfully to other organisations.
But how do you write an executive summary in a tender submission?
1. Needs/pain points
Start by stating the outcome your prospect is seeking. This the pain they are looking to relieve.
You’ll know about their pain having done research into their organisation, looking at their annual report, media releases and media coverage. Ideally, you’ll have met with the prospect to discuss the tender. Or you may have met with them on a previous occasion and understand some of their business issues.
If you’ve not met with them, you can only go on what your research tells you and what the request for tender or request for proposal states are their needs.
TIP: Always make the prospect’s name the very first word in your tender or proposal.
Lack of a value proposition is the single biggest reason why tenders are unsuccessful.
Take the opportunity presented by an Executive Summary to clearly describe your value proposition. The value proposition states how and why you are able to deliver the outcomes that the prospect is seeking. Remember that your value proposition may comprise a series of points that add up to one big one. Consider illustrating the outcomes with an infographic for emphasis.
Briefly describe your solution. This is the nuts and bolts of your product or service. Use data as evidence for the outcomes your solution will achieve: cost savings, time savings, other efficiencies.
Briefly provide examples of other companies that have benefitted from your product or service.
Examples of executive summaries in tenders
Here are a few examples of executive summaries in tenders to give you an idea of how they look and sound.
ACME Industries’ machinery has become unreliable. You explained that you are seeking alternative machinery to eliminate the constant breakdowns, which are disrupting production, reducing output and affecting sales [need/pain].
Based on our research and experience with other businesses facing similar technology issues, you will save $1.5 million a year [quantifiable outcome] with our super-dooper new machine, the X3R [solution].
All New Machinery is the only company in the country with this advanced technology [solution]. Introducing the X3R into your workplace will reduce ACME Industries’ costs by 5% [quantifiable outcome] each year. This is because our machinery has a 99% reliability rate, and comes with 3-monthly servicing at no extra cost [solution].
Similar businesses are benefitting from this technology [evidence]. MCI saved $5 million over 2 years by introducing the X3R to increase reliability of its production in 2014. And in 2015, Jeb Bloggs & Company reduced their costs by $2.3 million following introduction of the X3R to their Melbourne warehouse [more quantifiable evidence].
ACME Industries’ telephone system is unable to handle the increasing volume of calls being received at your call centre. You are seeking an alternative system with greater capacity and greater future-proofing [need/pain].
With our super-dooper telephone system [solution], you will save 5.4 seconds on every phone call. That’s an average of X minutes an hour, X hours a day, X days a month, and X months a year [quantifiable outcome].
Time saved in this way will enable your call centre to receive approximately 300 more inbound calls a day [quantifiable outcome].
Jeb Bloggs & Company generated an additional $1.23 million revenue last year alone following their introduction of our phone system [evidence]. The company’s ability to receive additional calls, increased sales, customer satisfaction and staff productivity, leading to the increase in revenue [outcome].
If you would like help writing, editing or proofreading your tenders and proposals, head to the contact page or call Rosemary Gillespie on 02 8036 5532 or 0411 123 216.