No matter what, if you want to be successful, you better be in front of the right people at the right time with the right message. Embedded in this statement are all the components of your federal strategy. Most federal contractors know a few of the right people but have no idea how to identify people outside of their current circle of influence. Your strategy needs to start with finding more of “the right people”. I cannot stress more the importance of the target rich environment and since the feds buy everything, there are hundreds, maybe even a thousand buyers with budget and needs for what you sell right now.
Sure there are initiatives and forecasts released by the agencies every single year but they are only a fraction of the total spend and have full exposure to everyone on the planet. Plus, most of the big initiatives have been influenced by the most formidable competitors with relationships and political connections that are impenetrable. Your job is to find “the right people” under the radar of the big boys.
So far I haven’t found a better way than looking at the historical data. Why? Because power in DC is based on budget and if they had budget last year they will protect it for this year. More importantly, whoever spent the money on your services last year is most likely to be spending the money this year.
Three ways to find “the right people”:
1) Look at your competition. If they are doing it, so can you. How much is GSA? How much is another vehicle? Who are their contacts? How are they procured? Not just Sole source, BPA, 8(a), SDVOSB etc, but what NAICS and PSC are they using?
2) Look at the whole market. If you look at the entire market you will probably find competitors that you never thought you had because they are in places you never knew existed and are putting millions into their bank accounts that could be in yours.
3) Look for your sweet spot. Chances are your sweet spot in expansion in a new federal market (that means anything outside your current influence) will be about half of your average sale AND under $750k. Interestingly enough, this is under the radar for most of the big boys so they don’t even care to pay attention. Get to $1.5M and you have entered the realm of serious, formidable competition.
Now, you can spend 3-4 months on GSAadvantage and a host of other government sites looking for this information but you need it NOW if you are going to be able to make a dent in this year’s sales efforts. In most instances we can provide you what you need in three weeks for three grand. Take a look at the sample Marketing Essentials Intelligence here:
Market Intelligence Overview Video- 3 Min 44 Sec
STEALTH Tactical Intelligence – SAMPLE EXCEL.xlsx
STEALTH Tactical Intelligence – SAMPLE.pdf