Conduct Market Research
Federal agencies are looking for the best possible option to achieve their goals as efficiently as possible. It's crucial to know as much information as you can about the environment of the federal government marketplace, so you know where and how your solutions fit in.
Through market research, you can better understand what agencies are looking for and make more informed decisions because of it. For example, how much money is the Department of Transportation allocating to infrastructure projects, and what products did they acquire the most last year? What types of services does the Department of Homeland Security need? Questions like these can help you narrow down your target agencies and dive into specifics. The SAM Databank and the SBA's Business Guide will assist you in gathering the data necessary to get a leg up for competitive analysis.
It’s also important to note that agencies are required to do their own market research. By learning more about this process, you’ll have a better idea of how to engage as a contractor.
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