FedBiz’5 Podcast | Episode 16: Market Intel – Your Roadmap to Success
Market Intel – Your Roadmap to Success
Database allows contractors to find open solicitations, upcoming opportunities, expiring contracts, and hidden future opportunities that aren’t visible to the public.
In this episode of FedBiz’5 we are hosting Ryan Sherr from FedBiz Access to discuss the features and benefits of the Market Intel Database and in particular the Roadmap to Success.
The Market Intel Database is one of the most advanced databases for business development and research in the government contracting marketplace, including federal, state, and local contract opportunities.
The search capabilities in the database provide government contractors insight into buyer trends and the competition, which in turn gives them the advantage of better understanding the market to help them win government awards.
Contractors can find open solicitations, upcoming opportunities, expiring contracts, and hidden future opportunities that aren’t visible to the public.
The database search utilizes keywords, industry codes, geography, date ranges, and any number of other filters to ensure the user is seeing only the information and opportunities relevant to them. It puts the power of hundreds of federal, state, and local resources at your fingertips in a user-friendly format.
Initial set-up in the database requires a user-specific profile applying a combination of keywords, industry codes, such as NAICS, PSC and NSN codes, etc., and work-area geography. By setting this up these custom attributes for your business, Market Intel ensures you see all the opportunities that match your profile. In addition, you get daily email alerts for federal, state, and local contract award opportunities.
The information from the Market Intel Database can help businesses identify who buys what they sell, when they buy it, and lay the groundwork to begin forming a relationship with those buyers.
To sell to the government you must be proactive, not reactive. Simply responding to a bid is not sufficient. You must get in front of the buyer before the bid ever comes out.
With your customized ‘Roadmap’, Market Intel uses your list of industry codes from your SAM registration to provide you the information to be proactive.
This information includes a list of all the contracts that came out last year for each of your NAICS codes; what agencies bought in those NAICS codes; a listing of your competitors that won awards in those NAICS codes; how many of those competitors had GSA Schedules; dollars involved; active solicitations, as well as expiring contracts.
Regarding expiring contracts, each year the government issues hundreds of thousands of contract RFPs that pertain to services the government needs, such as janitorial services. The vast majority of the time these are the same contracts that have been issued in the past, and they will be reissued again prior to expiration.
These expiring contracts are resolicited prior to their expiration date. And, with research, you can know the inside information on when to contact the contracting officers and how that last contract was won, including who previously won the contract; what type of contracting facility was used; dollar amount; and the terms of the award.
As a supplier, to have this much knowledge in advance of a bid proposal gives you the supplier the advantage to win the award. The key is to be proactive.
FedBiz Access is currently offering a 30-Day Free Trial to the Market Intel Database. To take advantage of this 30-Day Free Trial – Click Here and use the Agent Code ‘INTEL30’.
FedBiz Access offers research and engagement strategy sessions, as well as marketing packages to targeted buyers at the federal, state, and local levels. FedBiz Access has over 21 years of experience working with companies to help them win business by ensuring their research, engagement strategy, registrations, and certifications are current, complete, and compliant.
