Terms and Jargon of the RFP Process.
If you’ve ever got confused by something to do with the RFP process here’s a glossary of terms for you to look at.
- EOI – Expression of interest. Basically asking the marketing agency to provide proof they can do what you’re looking for by sharing examples.
- Creds – Slag for Credentials. Basically a list of clients or examples relevant to you proving they can do what you ask.
- RFP – Request for Pitch. Basically asking the marketing agency to pitch to you WHY, WHAT WHO, & HOW they will achieve your goals.
- RFT – Request for Tender. Basically, an overkill way running an RFP process and tends to limit results because it’s time-consuming for both yourself and the agency.
- RFQ – Question For Quote. If money is less of a problem often or you want the agency to really understand your business needs before quoting a price you can request a full price quotation. This again is a lot of work on both sides which you as a client will probably pay for.
Something missing? Let us know and we’ll add it to the list.