Recent research from Loopio reveals that, on average, firms spend 23 hours and involve nine people in writing a response to a request for proposal (RFP). The data was gathered from a survey of over 650 people across North America.
The amount of time spent writing an RFP response varies among companies, with over half of respondents saying their company spends 5-20 hours on average. Additionally, 65% of respondents indicated that fewer than 10 people are involved in the RFP response process at their firm.
The average win rate also varies among firms, with 16% winning fewer than 20% of RFP bids and 13% winning more than 80%.
RFP Benchmarks: Time, Staffing, and Win-Rate Trends
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