Creating an effective RFP for marketing services is more than simply compiling a list of tasks you’d like an agency to perform. If you want your marketing dollars to produce measurable returns, your RFP must center around revenue impact from the very beginning. This guide will walk you through the essential steps and practical examples to craft an RFP that attracts the right partners and sets your marketing efforts up for financial success.
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Define Revenue-Centric Goals and KPIs
An RFP focused on revenue starts with defining clear, measurable business goals. Instead of broad objectives like “increase brand awareness,” be specific: for example, “generate 200 qualified leads monthly” or “achieve a 15% increase in e-commerce revenue in Q4.”
How to Execute This Step:
- Review your sales pipeline to identify bottlenecks or gaps.
- Collaborate with sales teams to set realistic revenue targets.
- Translate business goals into marketing KPIs, such as Cost Per Acquisition (CPA), Lifetime Value (LTV), or Return on Ad Spend (ROAS).
Example: If your SaaS company wants to increase Monthly Recurring Revenue (MRR) by $50,000 in six months, include this target in your RFP, and request agencies to propose specific strategies to reach it.
Provide Detailed Buyer Persona and Market Data
Agencies perform better when they understand who they’re marketing to. Including rich customer insights in your RFP helps potential partners propose tailored strategies rather than generic approaches.
How to Execute This Step:
- Gather data on demographics, job titles, pain points, and buying behavior.
- Share insights from analytics tools like Google Analytics, CRM reports, or survey data.
- Highlight differences in customer segments if your business has multiple audiences.
Example: A B2B software company might note that their ideal buyer is a mid-level IT manager in companies of 50-200 employees, looking for cost-effective solutions to streamline operations. Sharing this detail empowers agencies to recommend relevant channels and messaging.
Specify Scope with Revenue-Driven Deliverables
Avoid vague language like “improve SEO” or “manage social media.” Instead, outline deliverables that directly tie into revenue goals, like creating landing pages for lead capture, developing sales funnels, or launching PPC campaigns with ROAS targets.
How to Execute This Step:
- Break down your revenue goals into tasks or projects.
- Ask agencies to propose deliverables that connect directly to each revenue objective.
- Include timelines for each deliverable.
Example: Rather than “run paid ads,” specify “launch a Google Ads campaign aimed at generating a minimum of 100 leads per month at a maximum CPA of $50.”
Request Case Studies Relevant to Revenue Results
An agency’s portfolio should show evidence of driving tangible revenue outcomes, not just vanity metrics like impressions or clicks. Request case studies demonstrating how they moved the needle on revenue or profit for similar clients.
How to Execute This Step:
- Ask agencies for two to three case studies with before-and-after metrics.
- Instruct them to highlight strategies, channels used, and specific revenue results.
- Look for details on how challenges were overcome.
Example: A good case study might show how an agency’s content strategy increased inbound leads by 30%, leading to an additional $500,000 in sales over six months.
Include Questions on Strategic Thinking and ROI Measurement
A revenue-focused RFP should test whether agencies can think strategically and analyze ROI—not just execute tasks. Include questions that reveal their approach to measuring results and optimizing campaigns for revenue impact.
How to Execute This Step:
- Add open-ended questions like:
- “How do you determine which marketing channels to prioritize for revenue growth?”
- “Describe your process for attributing marketing efforts to revenue outcomes.”
- “How do you determine which marketing channels to prioritize for revenue growth?”
- Evaluate the depth and specificity of their answers.
Example: Instead of generic responses like “we use analytics,” look for detailed explanations about multi-touch attribution models, funnel analysis, or predictive analytics.
Set Budget Expectations and ROI Targets
Being transparent about the budget helps agencies propose solutions aligned with your financial reality. Equally important, let agencies know what ROI you expect so they can tailor strategies accordingly.
How to Execute This Step:
- Disclose a budget range and explain how it connects to revenue goals.
- Clarify your minimum acceptable ROI or payback period.
- Invite agencies to suggest alternative approaches if your goals and budget don’t align.
Example: “We have a $120,000 annual budget and aim for a minimum ROI of 3x within 12 months.”
Outline the Evaluation Process and Timeline
Finally, share how you’ll evaluate proposals. A structured evaluation process helps ensure you choose a partner focused on your revenue goals, rather than one who simply creates the flashiest presentation.
How to Execute This Step:
- List your evaluation criteria (e.g., past results, strategic approach, cost-effectiveness).
- Provide deadlines for questions, submissions, and finalist presentations.
- Communicate the expected timeline for your decision.
Example: “Proposals will be evaluated 40% on demonstrated revenue results, 30% on strategic plan, 20% on budget alignment, and 10% on cultural fit.”
By crafting your RFP for digital marketing services with these steps, you’ll empower agencies to propose solutions designed not just for marketing activity but for measurable, revenue-driven impact that fuels your business growth.
