End of fiscal year tactics for government contractors
The end of the federal fiscal year (FY) represents an opportunity for government contractors to go after unused agency funds, yet many contractors come up short. While the government employees need to spend those last dollars, they will be looking to be prudent in their spending to maximize the value for the government.
This year, because of the various budget issues, most agencies will have some funds available that will be spent before 11:59 PM, Sept. 30, 2012, and I fully expect to see sales accelerate as we near the end of the FY.
Here are a few tips for contractors to maximize end of FY sales.
First, review the agency web sites to see if there is any information on what the agencies are currently doing. Intuit from this what they need to accomplish the task. If you are a fit, pursue!
Along these same lines, make certain you have read the agency’s federal Office of Management and Budget (OMB) filings, the OMB 53 (IT) and OMB 300 (Capital Asset Plans) to know the overall plans of the agency you sell to.
Next, always go back to the well — the people and offices that know you best and buy from you frequently. Ask them what they need and if they have available funds. Be ready to offer spot reductions if necessary. Also ask for internal referrals — other people who might need your product or service.
Along the lines of going back to the well, if there are any in-agency events, especially tabletop expos, you should attend and exhibit at those where you are known.
Make certain your web site and all marketing materials clearly state the contracts your products and services are available on.
If you have an inbound call center sales staff, the center should stay open on Sept. 30, 2012, until midnight in all time zones. Have all necessary staff, including finance, available to close a deal. I have heard many stories from reliable sources about end of FY sales, when it is midnight in Asia, where one company wins because they are the one company still manning the phones. If you drive sales through your web site, make certain your customers know you’ll be behind the web site to make certain all sales are registered by midnight. Even government charge card sales need to be fully processed BEFORE the close of the FY.