The report was based on data from a survey 500 people involved in the RFP process for their firms, including proposal managers, solutions engineers, and sales and marketing executives.
Writing a single RFP takes 23.8 hours, on average, the survey found.
However, company size has a significant impact on the timeline: Firms with fewer than 100 employees take 15.2 hours to write an RFP, on average, whereas firms with more than 10,000 employees take 35.2 hours.
Companies with fewer than 100 employees take 4.2 days to submit an RFP, on average, whereas companies with more than 10,000 employees take 28.2 days.
Companies involve 7.3 staff members in the RFP response process, on average.
Again, company size has a significant impact: Firms with fewer than 100 employees involve 5.3 people in the RFP process, on average, whereas firms with between 1,001 and 5,000 employees involve 8.3.
Respondents say the top challenges they face during the RFP process are finding accurate answers quickly (44% cite it as an issue) and collaborating with internal experts (43%).
About the research: The report was based on data from a survey 500 people involved in the RFP process, including proposal managers, solutions engineers, and sales and marketing executives.
Continue reading "RFP Benchmarks: How Much Time and Staff Firms Devote to Proposals" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may like these other MarketingProfs articles related to Marketing Strategy:
- Your Guide to Co-Marketing
- Standing Out From the Crowd and Salsabrating the Good: Jay Whitney on Marketing Smarts [Podcast]
- The Top Challenges Marketers Face in Executing Data-Driven Strategies
- Four Techniques for 'Story-Splitting' Your Marketing [Infographic]
- The New Business Climate for Marketing Agencies in 2021