RFPs can be used as an effective tool to assist purchasing decisions. They help buyers compare offerings along similar criteria in order to highlight differences and facilitate evaluations. RFPs can play an important role in executing on the strategic planning process – business goals are assessed, capabilities and gaps defined, then companies act to close the gaps by building or buying. These are key activities that must be completed before issuing a RFP.
A RFP is not a shortcut for the strategic planning process. If you don’t have these answers, soliciting 50-page documents from service providers won’t solve this problem for you. Like strategy, RFPs shouldn’t be identical, even when companies in the same industry seek to purchase similar services. This may sound quite obvious, but you might be surprised at the lack of strategic thinking that goes into many social media RFPs today.