GSA Schedule contracts can help businesses secure federal opportunities with less competition and faster sales cycles. In 2023, the program awarded $45 billion, yet only 4% of small businesses hold these contracts. Key benefits include:
- Higher Revenue Potential: Average annual revenue increase of $927,000.
- Easier Wins: 44% of awards require only one bid.
- Federal Market Access: Stable opportunities even during economic downturns.
To succeed, focus on:
- Compliance: Manage pricing, reporting, and updates to stay active.
- Marketing: Use platforms like GSA eBuy to find opportunities and attract agencies.
- Contract Administration: Dedicate time to renewals, updates, and performance reviews.
Professional support services, like GSA Focus, handle 95% of admin tasks, helping businesses achieve an 87× ROI and faster success in the federal market.
Keeping your GSA Multiple Award Schedule (MAS) Contract …
GSA Contract Requirements
Once your contract is awarded, there are essential compliance tasks you need to manage to keep your GSA Schedule active. These include maintaining pricing and submitting reports under either Transactional Data Reporting (TDR) or the Price Reduction Clause (PRC), along with routine administrative updates. GSA Focus takes care of these compliance tasks for you – handling reporting, modifications, and updates – so you can focus on increasing your federal sales.
Marketing Your GSA Contract
Getting the most out of your GSA Schedule contract requires smart marketing strategies tailored to the federal marketplace.
Identifying Opportunities
Check platforms like GSA eBuy and GSA Advantage regularly. Set up alerts for your specific SINs (Special Item Numbers) and mark important deadlines on your calendar. This helps you stay on top of new solicitations. Study agency purchasing trends to focus your efforts on agencies that buy in high volumes.
Highlighting Your GSA Benefits
Focus on agencies with consistent needs for your products or services. Showcase your pre-negotiated GSA pricing and highlight the faster award process your contract offers. Use these selling points to stand out from competitors. Make sure your marketing efforts align with your compliance schedule to maintain momentum and prepare for any necessary contract updates.
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Managing Your Contract
Keep your award on track by monitoring compliance and tracking sales closely.
Steps for Contract Renewal
- Keep a detailed record of all sales and any modifications.
- Regularly compare sales figures to established thresholds.
- Ensure pricing aligns with guidelines and reporting is accurate.
After that, schedule an annual review to identify any performance issues and fine-tune your federal strategy.
Annual Review Process
When preparing for renewal, focus on these critical review steps:
- Compare your sales to benchmarks to spot trends or gaps.
- Update pricing and service options as needed.
- Gather and apply customer feedback to improve offerings.
- Use the findings to sharpen your targeting and adjust your GSA approach.
Professional GSA Services
Once compliance, marketing, and annual reviews are in place, expert assistance can help simplify operations and increase federal sales potential.
Contract Management Support
GSA Focus takes care of 95% of your contract administration tasks – handling document preparation, pricing updates, compliance reporting, and modifications – so you can concentrate on selling. Clients have seen an impressive 87× return on investment and an additional $927,000 in yearly revenue. With this extra capacity, you can focus on pursuing more opportunities through GSA eBuy or Advantage.
Federal Market Access
GSA Focus identifies opportunities, prepares compliant proposals and pricing, and ensures all necessary documentation is in order. With a 98% success rate and processing times that are 4 to 6 times faster, they help businesses make the most of federal contracting opportunities.
Key Points Summary
Here’s a quick recap of the post-award process:
Compliance Requirements
Stick to approved pricing, file reports on time, and manage contract modifications. Use compliance training to avoid mistakes.
Marketing Essentials
Use platforms like GSA eBuy and Advantage to your advantage. Focus on low-competition opportunities and build strong client connections to hit the $125,000 sales target.
Professional Support Benefits
Professional support takes care of 95% of admin tasks, boosts revenue by $927K, and provides an impressive 87× ROI.
FAQs
What are the key steps to stay compliant with my GSA Schedule contract?
To maintain compliance with your GSA Schedule contract, it’s important to follow these key steps:
- Complete compliance training: Watch the GSA Compliance Training Course as soon as your contract is awarded and before any Compliance Assurance Visit (CAV).
- Adhere to pricing rules: Always charge GSA-approved pricing or lower to remain compliant with contract terms.
- Report sales regularly: Submit accurate and timely sales reports to the GSA as required by your contract.
By staying proactive and organized, you can ensure smooth contract management and avoid compliance issues.
What are the best strategies to market my GSA contract and secure more federal business?
To successfully market your GSA contract and increase your chances of winning federal business, start by focusing on small, manageable opportunities. Identify contracts that align with your strengths and pursue them with a clear, aggressive strategy. Highlight your GSA-approved status by using the GSA logo and your contract number in your marketing materials to build credibility.
Consistency is key – ensure you meet the required $125,000 in sales during the five-year base and option period. If you’re unsure about proposal writing, market research, or crafting a strategy, consider seeking guidance or coaching to strengthen your approach. By staying proactive and maintaining compliance, you’ll position your business for long-term success in the federal marketplace.
What should I focus on during my GSA contract’s annual review?
During your GSA contract’s annual review, it’s important to focus on three key areas:
- Marketing: Evaluate your GSA marketing efforts by identifying ideal contracts, tracking sales progress, and ensuring you’re meeting the $125,000 sales requirement over the five-year base or option period.
- Compliance: Ensure you’re adhering to GSA regulations, such as charging approved pricing, reporting sales accurately, and staying prepared for compliance audits.
- Maintenance: Review contract updates, modifications, and overall performance. Consider whether ongoing support services, like administrative assistance or compliance advisory, might benefit your business.
By addressing these areas, you can maximize the value of your GSA contract and maintain good standing with GSA requirements.
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