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Iinteractive tool to find out where your firm might improve its business development skills
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Billable Hours vs. Business Development

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Prospect Value Calculator & Campaign Budget

What is the value of each prospect client? How much should you spend to acquire them?

Type in your values for the starred boxes and click calculate:

Average Project Value (£): *
Average number of projects per client per year: *
Average number of years clients retained: *
Total number of prospects in your market: *
Your target number of new clients: *
Average no. of meetings before one sale: *
Average no. of phone calls to set up a meeting: *

RESULTS:


Average lifetime value of each new client (£) :
Lifetime value of all new clients (£) :
Value of each prospect (based on your target) (£):
Value of each phone call you make (£):
Value of each meeting you attend (£):
Your ratio sales:meetings:calls = : :
   
What is your budget to acquire these new clients?
   
at 5% of lifetime value you could spend (£):
at 10% of lifetime value you could spend (£):
at 15% of lifetime value you could spend (£):
at 20% of lifetime value you could spend (£):
   

In order to acquire your new clients, you will need to make a total of phone calls and attend at least meetings (assuming that you meet with each serious prospect 3 times). Is this realistic, given your budget figures above?

  

Related article: Billable Hours vs. Business Development

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