By Global Services on July 4, 2024
10 Tips to Make the Most of Your GSA Schedule in Q4
With summer in full swing, it’s time to gear up for the federal fourth-quarter buying season. September 30 marks the end of the federal government’s fiscal year, making Q4 a crucial period for federal contractors to secure year-end funds. For companies experiencing a lull in commercial sales during summer, this is the perfect time to focus on federal sales.
Although government agencies have improved their planning and spending throughout the year, Q4 remains the highest grossing quarter for GSA contractors. In fact, Q4 spending is typically around 15% higher than in Q3, amounting to over $1.1 billion more spent. The reason is simple: Federal agencies need to utilize their remaining budgets to avoid losing funds or facing budget reductions in the future.
One of the greatest challenges agencies face during Q4 is the need for a simple and fast procurement process. Agencies often turn to existing contracts, GWACs, and BPAs to facilitate quick purchases. This makes the GSA Multiple Award Schedules an attractive option, as it significantly cuts down the procurement process and is easy for agencies to use.
So, how can you increase your GSA Schedule sales in Q4? Here are 10 tips to maximize your success:
Start Early: Many agencies begin planning their Q4 purchases well before September. Use the summer months to ramp up your marketing campaign. Work closely with your team to create proactive marketing plans, ensuring your services and products are well-promoted and positioned for final spending decisions.
Keep Your GSA Contract Current and Compliant: Ensure your GSA Schedule is up-to-date with all the services and products you offer. Add new offerings, remove outdated ones, and apply for annual price escalations. Out-of-date products and pricing can hinder both your and your customers’ ability to do business.
Register on GSA Advantage! and E-Buy: Government agencies often use GSA’s online ordering systems to find contractors. Make sure your current pricelist is loaded on GSA Advantage! for visibility and searches. Additionally, register with E-Buy to access all possible RFQs released via the GSA Schedule you hold.
Contact Current and Past Clients: Reach out to current and past clients to see if they have year-end funds and requirements for which you are qualified. Repeat clients account for much of Q4 spending, and it’s easier to sell to familiar customers than to find and convince new ones of your value.
Offer Promotions to GSA Schedule Users: Government purchasers are always concerned with the bottom line. Consider running year-end promotions or discounts to encourage agencies to spend their remaining budgets with you.
Be Mindful of the Micro-Purchase Threshold: Purchases under the $10,000 micro-purchase threshold are the easiest for federal buyers to make. Ensure you can accept government purchase cards to close orders below this threshold, as well as those under the $250,000 Simplified Acquisition Threshold. These credit card purchases require less paperwork and administration.
Don’t Be Afraid to Start Small: Some agencies may have only minimal funds left for smaller projects. Don’t dismiss these opportunities; they can be a great way to gain entry into new agencies or offices, positioning you for larger contracts in the future.
Leverage Social Media and Digital Marketing: Use social media platforms and digital marketing campaigns to increase visibility and engagement. Share updates about your GSA Schedule offerings, success stories, and special promotions to attract potential buyers.
Network Actively: Attend industry events, webinars, and conferences to network with program managers and contracting officers. Building relationships with key decision-makers can lead to more opportunities and insights into upcoming procurement needs.
Stay Informed on Industry Changes: Keep abreast of changes in federal procurement processes, budget cycles, and agency priorities. Post-COVID, the buying season has become more acute due to delayed contracting and fiscal cliffs. Understanding these dynamics will help you adjust your strategies accordingly.
As always, ensure your GSA contract and marketing efforts are up-to-date. Now, more than ever, taking these steps will prepare you for a successful Q4 and help you capitalize on the federal government’s end-of-year spending surge.
Need help how to best tackle your GSA schedule? Contact our team to support your needs!