|
Getting your Trinity Audio player ready...
|
Recompetes: This Hidden Issue That Catches Leaders by Surprise
How much does your projected revenue depend on winning a recompete government contract? In the past, incumbents had a high probability of win (PWin) unless they were underperforming or had lost favor. Not much business development effort was required.
Simply perform well on the contract, be a trusted resource, write a compliant proposal, and a win was virtually guaranteed.
But things have changed. Incumbency no longer guarantees success.
THE CHALLENGE
The Silent Contract Killer
If your customer hasn’t addressed your team’s performance, you should not assume the best-case scenario.
Customers don’t always tell you everything.
It’s a truth we often forget. And we tend to ignore it completely when we believe we have great customer intimacy—program managers aren’t immune to this.
Overestimating customer relationship quality has been a problem for years and it’s getting worse.
We’ve lost count of how often we’ve received calls this year from shocked and disappointed executives who were completely blindsided by losing a recompete due to their program manager’s personality or lack of BD performance.
In most cases, they failed to recognize this because:
- The program manager was convinced the customer loved them,
- Leadership assumed they had a strong friendship with the customer, or
- Leadership assumed no complaints about the PM meant all was fine.
These assumptions can put recompetes at very high risk.
But here’s the good news: you can take preventative measures to protect your recompetes.
In our research, we’ve identified 4 reasons PMs miss opportunities:
- Aversion to Business Development / Wrong Perception
- Lack of Customer Engagement Soft Skills
- Silo Culture / Customer Protective Mindset
- Incentives Not Aligned With Revenue Growth Responsibilities
Often the difference between winning or losing a recompete is how a PM leverages their customer access, relationship quality, and communication skills to outthink, outsmart, and outmaneuver those who seek to replace them without getting caught in a race to the lowest price.
To fully leverage their position, PMs must embrace their pivotal role in business development and get new, actionable intel from stakeholders.
To do this, leadership needs to reframe their perception of business development so they understand they are serving the customer by solving additional challenges and provide them the necessary BD and people skills needed to create Winning Relationships™ without resorting to sleazy sales tactics.
With training and support, PMs can overcome common obstacles in the role and maximize their impact as playmakers driving revenue growth.
