Measuring ROI on BD/Sales team
A key challenge with professional services is the ability to quantify the contribution of the sales / 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 Sales /BD team level of engagement according to the type of contribution to each win. Ideally, the measure would be updated on an ongoing basis by Sales/BD with lead Partners/Principals and reviewed on a quarterly basis.
Example 'Levels of Engagement'
Level 1: Sales / BD met directly with client (with or without a Partner) in pursuit of engagement.
Level 2: Sales/BD provided direct support in the form of coaching, arranging meetings with target, and preparing materials.
Level 3: Sales / BD team provided ‘back office’ support such as market research, intelligence on target, capability statements, and production of 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. This update has been prepared from a presentation by Silvia Coulter, Law Vision Group, and Daryle Bost, Sales Director of Womble Carlyle Sandridge & Rice, LLP.