The three all have distinct characteristics, but they all work together to help you get and close clients.
In this video, Chris and Jose discuss the in’s and out’s of all three, and what role they each play in the sales cycle.
A bid is the price you give to a potential client for the services you provide. It requires time and materials to calculate, and typically happens in the early phases of the sales cycle.
In simplest terms, a bid is really your best shot guess at the price. You don’t have the full scope of the details of the project just yet, and your bid is essentially your “bet in the dark” of what you’ll charge. Keep in mind: bidding is a risky maneuver.
Putting together a proposal also requires time and materials, but there’s more to it. It’s a neatly packaged document containing a bio about you, samples of previous work, your process, and what deliverables lie ahead.
There are several potential stakeholders who will look at your proposal, so it’s important that you create it with them in mind. For example, the CEO of a company will look at your proposal wondering what results they can expect. Whereas a CMO (Chief Marketing Officer) will want to see a breakdown of your process and how you strategize certain solutions.
The pitch is an opportunity to present creative convincing solutions. It’s a persuasive presentation, in a sense, that takes time, resources, and a lot of preparation. Your pitch is typically paired with high-quality, visually stimulating imagery to highlight the words you use to sell clients on an idea.
Pitching is competitive, especially in the motion world. If the potential client is hearing pitches from three other creative firms, you have to give it your all in showing them that you’re the right one to work with.
For more on determining price and breaking down bids, proposals, and pitches, watch the full video above.