PROCUREMENT NEWS Top Tips to Becoming More Competitive

Your business will have heard time and time again how important competitor research is to a business’s growth strategy but this is true if your business wants to win more work within the public sector marketplace.

Tracker’s business intelligence tools can support this research and support those working in the public sector marketplace with maintaining their competitive edge.

 

Know your competitor inside out

Using Tracker’s Archive Data tool your business can discover which of your competitors have won business in the public sector before and what types of contracts they are winning.

Each Tracker customer is given access to archive data from up to five years ago as standard, but Tracker intelligence in this area goes back to 1998 – that’s 20 years of contract information.

Whether you are a Tracker customer not, if you would like to learn more about this module and how you can use it as a competitor research tool, get in touch with a member of the Tracker intelligence team.

 

Get to know your customer

Using business intelligence, you can begin to Identify buyer spend patterns and find answers to the questions that are most important to a business that wants to win more work with the public sector e.g. where they spend, with whom, on what and in which sectors.

With the right tools this isn’t impossible. Tracker’s Spend Analysis tool collates and publishes all English public sector spend data in line with the Government’s Transparency Agenda.

UK law requires local and central government to publish details of all transactions over £500 and £25,000 and as we collate this data and sort it in one central place, businesses using out tool can stay up to date with spending trends from the buyers you want to work with.

 

Find opportunities before your competitors do

The mistake that many businesses make is that they are not proactive when it comes to finding leads and it is one of the easiest ways to become more competitive.

It is recommended by procurement experts that you build a proactive lead pipeline across public and private sectors and engage earlier with the buyers you want to work with rather than waiting for contracts to be published.

Tracker can do this using the Market Leads tool as it gives users instant visibility of potential private sector leads, public sector framework opportunities and pipeline contracts long before they’ve even been tendered.

Not a Tracker customer? Gain exclusive 3-day free access to our most popular package – Tracker Premier, this tool is perfect for businesses looking to grow their current share of the public sector market.

 

Jun 27, 2019.