Media sellers have a complicated relationship with the RFP process. It’s a spreadsheet-laden, antiquated process that you just have to power through. But every RFP is an opportunity to build business.
Agencies and media buyers look at RFPs through rose-tinted glasses. In a perfect world, they create a competitive environment. A tougher RFP process can weed out vendors who aren’t worth your time.
This is a tempting idea, but don’t fall for it. If you want to promote competition and innovation, you will benefit from an increased RFP response rate. It’s not the most glamorous KPI, but it’s one that can have a big effect.