The Ultimate RFP Checklist: Key Steps for Successful Procurement

Cover these bases to increase win rates

For many publishers, RFPs are the bane of their existence. According to Hubspot, only 50% of RFP responses result in a win, which can frustrate sales teams. While there are many considerations to juggle with any RFP response—big ideas, media planning, and targeting needs, to name a few—there are other questions that can be addressed to increase win rates. 

We’ve compiled a data-backed checklist of questions to answer before submission to improve quality and maximize wins. 

While RFPs come in many shapes and sizes, they typically include three primary categories that guide your response: 

1. Advertiser goals
2. Campaign details
3. Execution details

We’ve broken down our checklist into these three categories to help craft above-average proposals that land deals. 

Advertiser goals 

Illustrating a clear understanding of the advertiser’s stated and underlying goals is essential for building trust and winning bids. A shared vision is crucial to avoid pitfalls and execute successful campaigns, which lead to loyal clients and opportunities for upsells and cross-sells. 

Answer these questions to communicate your understanding of the assignment and your ability to deliver on it. 

• Why is the client running this advertising campaign?
• What is the business opportunity for the client?
• What does the client expect from the advertising? What are the campaign objectives in order of priority (e.g., increase brand awareness, increase leads, etc.)?
• What product attributes will be featured?
• What are the success metrics (e.g., CTR, CPA, video views, etc.)?

Campaign details

Another key piece of the puzzle is the campaign itself. Your practical approach to meeting the criteria is important, so get specific in your response and explain in detail how you will help your advertiser meet the goals of their broader project. Communicate your understanding of the campaign’s purpose by exploring the questions below to inform the proposal.

• Whose behavior is the client trying to affect? What is the target audience? 
• Are there psychographic or demographic affinities for this audience? Are any particular site categories relevant or irrelevant?
• What is the timing (e.g., launch date, end date, and critical milestones)? Are there any special assets or trafficking deadlines (e.g., rich media)?
• Are there any integration considerations? Offline components running in tandem?
• What is the budget? Are there any parameters for how it must be allocated? 

Execution details

Execution is where money is made, but unanticipated complications arise during too many campaigns. Let your potential client know that you’re thinking ahead and are able to meet unforeseen challenges by preparing detailed answers to the questions below.

• Are there creative or production implications that could affect timelines? 
• Is custom creative needed? Will there be rich media?
• Will the client be using existing creatives or testing new creatives? If testing new creative, how will you choose winners and optimize?  
• What alternative platforms will be used (e.g., streaming video, podcasting, or SMS text)? 
• Will ad units click through to the same location or different locations?

Writing RFP responses that win bids

Once you’ve determined that you are the right partner for the RFP, it’s time to get to work preparing your proposal. This can be time-consuming and high-pressure work. Most sales teams have found that dedicated RFP response software can facilitate the creation of optimized proposals. In fact, Hubspot has found that 69% of top-performing teams use digital platforms that automate aspects of RFP response. 

Skipping the frustration and tediousness of manually generating proposals can invigorate sales teams and free up their time for more proactive work. Find out how to continue improving your RFP response process with Proposal-IQ, our AI-powered software designed to help you create proposals in minutes and increase deal sizes and win rates.