The Wonderful World of IDIQs, Part 2: Working the Contract
Good news! You’ve been selected for an Indefinite Delivery Indefinite Quantity (IDIQ) Contract. All that hard work positioning and delivering a strong RFQ response paid off. Now you can just sit back and the work from that contract will just roll in, right?
Think again. Whether you are the only firm selected or especially if you are selected as part of a pool of qualified consultants, you should include working the contract as part of your business development strategy.
Incorporate an IDIQ Contract in Your BD Strategy
Think of being included in a pool of consultants as a strong lead in your sales pipeline. You have made it past round one, but you still have competition to out-position. If you are part of a rotation list, that means that the client can pick and choose who gets the work, with no commitment to evenly spread the work around. Just as with any other project, the client is always looking out for their best interest, meaning they want to minimize risks by selecting firms that they trust to deliver a successful project, no matter what the size.
Those clients aren’t pulling out your RFQ submittal every time they have a new project to assign. They most likely look at the list that was created when the submittals were scored and make their selection from there. If you haven’t touched base with the decision-maker since being notified of your inclusion on the list, you may not be top of mind. As we all know in this industry, timing can be everything. Creating a lasting impression doesn’t happen with your submittal; it happens through regular connections, where you can remind decision-makers why your firm should be awarded projects under the IDIQ contract.
Stay Top of Mind with Decision-Makers
So, how do you “work the contract” effectively in order to stay top of mind? First, follow up with the client within two weeks of being notified of the contract award to express your gratitude and excitement of working with them on upcoming projects. Moving forward, it’s all about regular communication and connection to stay in the loop and position for work. If you’re on an active project or waiting to be assigned your first one, use these talking points to engage with and remind your client why your firm is an asset that should be utilized.
Ask about the order of priority and what projects are anticipated to be released in the next 6 -12 months.
How are current projects coming along? Have there been scheduling or budget issues that you can help with?
Have there been any additions or deletions from the original project list?
When talking about active projects, ask who is working on them.
Ask how things are going for your client. Have there been any staffing changes? Are they looking to add to the current staff roster?
If your client expresses interest in what’s going on with your firm, be prepared to share things that reinforce your capability and capacity to serve their projects such as:
New technology that you have invested in that supports their projects
Newly hired staff that can bring additional expertise to the work
Insight into your upcoming production capacity
Similar successful project completions
Build Confidence Through Successful Performance
Business development for this unique pursuit is really all about connecting with the client and keeping you and your firm on their radar. Finding opportunities to help them with things outside of the actual project list execution is a great way to build trust and confidence. When on a project, always reinforce and showcase your ability to bring solutions that support fast turnarounds and budget-friendly recommendations. Remember, IDIQ work is all about speed and efficiency, which should mean a minimal need of micro-management by the owner. Firms that can autonomously manage these types of projects, deliver a feeling of success not just through project completion but also by confirming to the owner that they can be trusted in a fast-paced, high-need project environment.