The process of forming long-lasting business relationships may seem a bit scary...
Truthfully, it doesn’t have to be.
Arming yourself with the necessary knowledge and resources can streamline the unpredictable process of forming business relationships.
For agency development reps, one of the most effective and underrated resources is a Statement of Work (SOW).
What is a Statement of Work?
A Statement of Work is a document that a business development professional gives to their prospective client as a way to outline a work project, its requirements, and its expected results.
It is used to lay out the specifics of a business relationship.
The benefits of an SOW, however, far outweigh the effort that goes into creating it.
Here are the 4 reasons why you should write a Statement of Work:
1. Set the Stage
A Statement of Work is a perfect way to set the stage for what an ideal business relationship could look like. Other than personal contact, this is your first opportunity to show your unique competence to a client.
2. Stand Out
An SOW is your chance to differentiate yourself. Your client will always be looking at multiple options, so it’s important to stand out. An SOW allows you to prove how you’re unique, right from the beginning.
3. Details, Details, Details
While it’s great to have an ongoing conversation with your client, not everything can be clarified in person.
The SOW gives you a chance to clarify the more minute parts of your relationship. It also gives you a chance to reiterate any important information that you want your prospect to remember.
4. Save Time
A well-organized SOW can save you a ton of time once it’s delivered, so it's important to spend enough time figuring out what to include.
Spending time upfront allows you to save time later.
By handing over a document that’s easy to comprehend, your client will have fewer questions, making your communication more efficient.