A key challenge with professional services is the ability to quantify the contribution of their Business Development (BD) function given difficulties in identifying who really made the sale, long lag times, and the complex nature of relationships and networks that may influence outcomes.  

One approach is to quantify the teams level of engagement according to the type of contribution to each win. 

Ideally, the measure would be updated regularly by BD with lead Partners and then reviewed on a quarterly basis.

Example 'Levels of Engagement'

Level 1: 

Lead Generation: BD has responsibility for a revenue budget. They identify qualified buyers and conduct initial meetings, they determine opportunity scope and drive strategy. In some firms they also have authority to assemble client relationship teams.

Level 2: 

Lead Identification: BD provides proactive support to Partners in the form of identifying qualified leads, coaching, scenario development, and advising on engagement and pricing structures.

Level 3: 

Lead Support: BD provides support that makes Partner-led new business campaigns either more efficient, more effective, or both. This support can be market research, environmental analysis and business intelligence, and the design of capability statements and pitch materials.

For more information on measuring sales performance, read my article on 7 sales lessons from DLA Piper. 

Sue-Ella Prodonovich attended the 2013 Legal Sales & Service RainDance conference in Boston.

Further Reading

Alpha Creates and Seldon Rosser (Sept 2020) Using Data Visualization to Show BD ROI - Video 37 Mins.

If you’d like to know more, get in touch for a personalised Zoom chat or call.

Sue-Ella is the Principal of Prodonovich Advisory, a business dedicated to helping professional services firms sharpen their business development practices, and attract and retain good clients.

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