Scaling the Agency RFP Scorecard and Vendor Vetting Process
Selecting a media partner to fulfill your specific marketing needs requires a hefty vetting process. Media partners are all offering unique and robust solutions to the challenges you want to overcome – how do you evaluate the field and make a considerate, timely decision? The most experienced media buyers use an agency RFP scorecard to effectively evaluate media partners for every new campaign.
How to measure RFP responses effectively
Before you can decide with whom you want to build a working relationship, you need a method to compare the contenders. To do so, there needs to be some kind of evaluation criteria to determine who has outscored the rest.
An agency request for proposal (RFP) scorecard is an ideal tool to assist the vetting process. You’ll be able to see every participating media partner’s strengths and weaknesses on this selection scorecard. This RFP scoring template will allow you to review several key points of every proposal from the media vendors and compare them side by side, deciding which of them would be strong potential agency partners. Then, depending on the selection criteria you establish, you can take an objective approach to scoring RFP proposals. The final scores can guide your agency in understanding the pros and cons of every media partner and direction you’re facing.
What does an agency RFP scorecard look like?
Thanks to digital tools, your agency can create an RFP scorecard with ease and in a variety of different formats. Though you could rely on a traditional program like Excel to build a table and fill in the data, dealing with RFP responses is typically going to require a review of a lot of text. While Excel might be nice for keeping numerical scores for each category of selection criteria, it doesn’t make it easy to truly review RFP responses side by side.
The briefbid platform has been built from the ground up with the goal of simplifying and improving this RFP review process.
With briefbid, agencies can get in touch with several vendors, familiar and new, for their RFPs.
As the proposals roll in, agency members can review all of the responses side by side, broken down by each question and request from the RFP. This is when the agency selection process comes to a head, as every potential agency client is weighed by their pros and cons against one another.
Declare victory in the vendor vetting process
If you’re tired of the manual RFP processes of the past and want to be more deliberate and effective in measuring proposals from media vendors for your RFPs, using a digital tool to compare and score responses is the smoothest path forward. Though it’s critical to build comprehensive, consistent RFPs for your prospective vendors first, having a comprehensive view of the results will ensure the best decisions for your agency’s media needs.
Interested in boosting your RFP results and saving time while you’re at it? Briefbid helps you discover new media vendors, host a centralized vendor contact list, and automate the RFP process for your media campaigns — completely free for agencies. Try briefbid today.