Capture management is the process used by government contractors to pursue and win new business. This involves activities from identifying and qualifying new opportunities through developing a value proposition and conduct capture reviews to manage the entire capture process and make informed bid/no-bid decisions.
While it’s possible to generate new revenue from public sector customers simply by submitting the lowest bid or taking advantage of set-aside opportunities, the most successful companies will confirm that – in order to really grow your business in the government market – you must proactively and consistently market your “solutions” (products and or services) to potential customers. Whether you are actively pursuing a specific contract or simply anticipating new solicitations in the near future, it is always a good idea to create and sustain awareness of your company's goods/services, industry expertise, and performance/success rate.
With no “one-size-fits-all” approach to government sales and marketing. The fragmentation of the government market makes it very challenging for many federal government contractors to identify the key insights needed to execute effective marketing campaigns, successfully build their sales pipeline with quality leads or close deals/win more contracts. You then need to ensure the right messages are reaching the right audiences via the most appropriate channels.
One of the specific tools you’ll want to is USASpending.gov where you can research potential customers’ spending habits and identify customers that have bought products/services similar to those you offer.
Ask yourself the following questions:
Where are the government customers?
What is a successful marketing strategy?
How can companies partner (Team / JV) in order to be a better provider to federal customers?
Networking with government agencies and other government contractors has been demonstratively proven to be best practices when marketing. Below are the most commonly used sources to discover, learn and begin engaging with Professional Associations.
Return on marketing investment (ROMI) is the contribution to profit attributable to marketing (net of marketing spending), divided by the marketing 'invested' or risked. ROMI is not like the other 'return-on-investment' (ROI) metrics because marketing is not the same kind of investment. Instead of money that is 'tied' up in plants and inventories (often considered capital expenditure or CAPEX), marketing funds are typically 'risked'. Marketing spending is typically expensed in the current period (operational expenditure or OPEX).