Building Your Brand for Government Contracting Success in 2015
A few weeks ago, President Obama signed the $1.1 trillion spending bill into law, providing funding for the majority of the federal government through the next fiscal year. This means that a number of government agencies have contracts ready to be filled and that 2015 is a great year for small businesses to get acquainted with the world of government contracting.
Sometimes when small business owners are getting started in government contracting, they focus solely on their skillsets and overlook the importance of building a strong brand. While the government may not be a traditional client, it’s still important to market your skills and experience to ensure success. At the end of the day, government buyers want to see the value that your company can bring to them. Consider the below tips for helping to build your brand and stand out in the government contracting arena this year.
Do Your Homework on the Industry
While some knowledge will only be gathered by performing on an actual contract, you should still dedicate ample time to researching the federal procurement arena to familiarize yourself with trends, regulations, and resources that can give you a leg up. A great place to start is SBA.gov. The SBA outlines general information about small business government contracting, related SBA programming and certifications that can help differentiate small businesses from competitors. You should also stay up to date with legislation that affects or could affect the government contracting landscape.
Become an Expert on Contract Management
Your homework doesn’t end once you win a contract. Contract management is a critical part of your success in government contracting and you need to put time and effort into understanding the basics, like how to navigate through problems that may arise and what it takes for you to invoice and collect money. If you don’t research these things, you may find yourself in the predicament of ‘good news, bad news:’ the good news is that you’ve won a contract; the bad news is that you’ve won a contract – and are unsure of what to do next.
Federal procurement officials are continuously looking for small businesses that have taken the time to learn about the regulatory environment and know what is expected when performing on a contract. Being branded for strong contract management skills is one of the most powerful marketing tools to grow a small business in the federal marketplace and vital to your success.
Highlight Your Past Performance
As we noted before, past performance is an indicator of competency in the world of procurement. It is one of the most critical factors when agencies are looking to award contracts as it speaks to the type of work you have done, who you have done it with, and how successful you were at completing jobs on-time and on-budget.
It is important to document your past work and keep it up-to-date, similar to a résumé, so that you are always prepared to jump on opportunities that may arise. You should also organize it in a way that allows you to quickly find it and share with a potential new client. Keep your eyes and ears open for industry awards and other opportunities to recognize your past work, as they will help you to stand out in the crowded space. For example, American Express OPEN recognizes four outstanding small business contractors every year for its Government Contracting Awards program. Amber Peebles, president of Athena Construction Group and 2012 awardee, said the recognition helped propel her company into the spotlight and aided in winning another award the following year.
Build a Strong Network
A very valuable marketing phenomenon that we all recognize is word-of-mouth. It often fuels building a reputation for being dependable and knowledgeable in key business areas garnering high praise. This concept exists in the world of federal contracts and can go a long way in obtaining job opportunities. Work to stay in touch with past customers and use their testimonials in your brand materials to highlight your successes. Nurturing customer relationships can lead to repeat jobs and even referrals to other customers. One in four active small business contractors report receiving at least one referral from a satisfied prime contractor that led to other opportunities, according to an American Express OPEN survey.
You should also make sure you build other industry connections, including your competitors. Having rivals in your network will allow you to see how they are representing their brands and in some cases can result in a strong teaming partner.
Positioning your brand properly is critical to the success of any business, but it’s especially important in the world of government contracting. Use these tips to enhance your marketing efforts and set up your company for growth this year!
