When consulting with clients for a tender submission, we are often asked if ‘Company A-Company B’ is adequate as the tenderer’s identity. It comes down to your strategy for the tender, and it is something which should be investigated thoroughly at your initial tender strategy workshop.
So, if you’re looking at floating the idea for your tender, it could help to understand the key benefits of either approach. To rename or not to rename – that is the question.
Key benefits of a rename
- Developing a separate identity shows cohesiveness in your partnership, a willingness to work together and a common approach to the project.
- The client will have confidence in your demonstration of collaboration and your professional approach to the project, adding credibility to your offer.
- Choosing one name and brand identity for the tender can help to overcome too much of a mouthful, e.g. if you have more than one party in your consortium.
- A new look and feel will communicate a new approach for both your companies; one that is focused on the project and delivering the project’s objectives.
- A new brand can pave the way for more business; consider it if your consortium plan to be together on multiple projects for a long-term partnership.
Key benefits of keeping it separate
- When your respective levels of commitment to the project are separated at a corporate level, the scope of work for the project could be simpler to allocate and easier for the client to understand.
- It’s business as usual for your operations, employment etc, and your partnership is likely to be bound purely by the terms and conditions of the project’s contract.
- You have ownership of your respective scopes, and clarity around responsibility and authority.
- Keeping each party’s ‘naming rights’ allows you to maximise the benefit of your existing brands; if you have excellent brand reputation already, perhaps the client would prefer to buy your brand as it is.
What to consider when naming your consortium
If you’ve had the discussion and you’re heading down the road of developing a new branded identity for your tender submission, there are a few staples that will give that brand the credibility it needs:
- Brand elements: You’ll need a logo, an identity, and relevantly branded materials such as document and letter templates.
- Commercial arrangements: You’ll need to investigate the commercial ramifications of creating this entity, and how is that represented on an organisation chart?
- The message: Venturing into creating a new entity and brand means consideration is needed for your message. You need to clearly articulate the reason for the name, and demonstrate the advantages of the arrangement to your client.
Creating a new consortium brand for a tender submission isn’t something to be entered into lightly. The motivation for the move should be investigated extensively at your tender strategy workshop, and it should be the keystone holding together your tender strategy statement.
Ultimately, a tender submission is the beginning of a new business venture, and while a newly branded consortium offers significant benefits in the tender period, it’s a long-term commitment that will need due consideration by all stakeholders.
For help on your tender strategy, contact one of our experts on 07 3211 4299, or email us at firstname.lastname@example.org