Requests for Proposals (RFPs) were the pre-pandemic norm in our industry, the way buyers and sellers came together to do business. That’s not necessarily the case anymore, and that’s a good thing.

RFPs do, however, continue to exist. They continue to exist because sellers allow them to do so. This is not to the seller’s advantage.

Let me explain.

The Pre-Pandemic RFP

RFPs dominated the pre-pandemic landscape because our industry had become very good at training buyers what to ask for.

Back then, supply exceeded demand and sellers were worried about losing business. So they transparently showed customers everything they did and what each item cost. Sellers basically handed buyers a shopping list, and buyers were able to pick and choose whatever they wanted for their RFP.

The shopping list also gave the buyer greater ability to shop around. This pitted seller against seller in a competition to attract buyers and commoditized industry services.

The RFP gave the buyer control over the buying process by allowing them to select where they wanted the value created.

Bottom line: the RFP takes the creativity and value creation out of the seller’s hands because RFPs, by their very nature, are designed to eliminate value to maximize buying power.

Why Aren’t We Seeing as Many RFPs?

The short answer to this question is that today many buyers are new to the role.

Maybe the employer had to lay off the person responsible for this role due to downsizing during the pandemic. Maybe the employee is returning to the workforce, saw a post-pandemic opportunity, and decided to jump into the mix.

Whatever the reason, we’re seeing a lot of new buyers these days.

New buyers, of course, aren’t yet familiar with their role. They don’t know the best questions to ask sellers because they’re still learning the ropes.

Because of this, they’re not as well versed in creating RFPs, and they rely more on the suppliers to tell them what they need.

Furthermore, live events became fundamentally different during the pandemic. We now have streaming and hybrid events, plus a constrained supply chain, which is also new.

Put this all together, and it creates a lot of unknowns for the buyer. They have a difficult time knowing what to ask for without help from suppliers.

Of course, there are still some educated buyers out there, and we’ll continue to see some RFPs coming through.

But today, sellers have a huge opportunity. To a large extent, creativity and value creation are back in the seller’s hands. No one knows for sure how long it will last, so the time to take advantage of it is now.

The Problem with RFPs

The problem with the RFPs of today is that they’re rooted in pre-pandemic thinking, old best practices, and out-of-date pricing.

For those of us that pivoted our businesses during the pandemic and worked very hard to provide new services, value, and solutions for an unprecedented time, the pre-pandemic RFP is relic from a bygone era.

It might be valuable to a historian, but, at times, it can even be insulting to today’s sellers.

For example, I’m working with a client who found the ideal prospect but can’t persuade them to look at what my client has to offer. The problem? The buyer presented a horrible RFP rooted in pre-pandemic thinking. Now my client feels they need to respond in the pre-pandemic way.

But this is a trap you can avoid.

We have an opportunity to respond in a new way to the questions of old.

New Answers to Old Questions

You’re still going to get RFPs in one form or another. That’s just the way it is.

You’ll get detailed requests from some buyers who are stuck in the past. Or you’ll get broad requests from buyers who need you to tell them how you can help.

In both cases, you need to respond in your post-pandemic voice.

Here’s our approach. Here’s what our best customers ask us to do. Here’s how we can help.

When it comes to RFPs, we were used to performing for the buyer in order to make the deal. That was pre-pandemic. The roles have changed.

We’re in a situation now where demand exceeds supply. Use that to your advantage. Push back on old school RFPs that don’t favor your company, your position, or your services.

If the request is trying to strip away your value, you have every right to push back to get the kind of deal you deserve. You provide opportunity to buyers and in doing so make an opportunity for yourself.

Will RFPs Return in the Future?

Yes. We will see RFPs in the future. Old habits die hard. Many companies will eventually go back to devaluing and commoditizing their offers so that the customer can shop around.

This may be human nature, but you do not need to join this race to the bottom.

Your value proposition will always appeal to a select group of potential buyers. By discouraging non-ideal buyers, you can continue to enjoy the profits and respect your company has earned.

Establish your value, and make it the norm.