The most important 100+ consulting business metrics
Running your consultancy service is a busy demanding practice.
It is important to measure and automate metrics so you can concentrate your efforts on customer satisfaction.
Here is a dynamic list of metrics specific to any consultancy business for your consideration and inclusion. The implementation of these metrics should be done with designed quality information and where possible presented showing trends.
A weighting system is encouraged for your business to decide which metrics over the next 12 months are most important.
These metrics should become aligned to your vision, mission, values, principles and strategy.
In no particular priority order, here is the list of 101 metrics to help you to success.
# of associates per consultant
# of coaching to sub-contractors
# of consultants changed on the same project
# of consultants charging hours on project budget
% consultant client retention
% consultant retention by client
% consultant utilization rate
% of consultants changed on same project
Average consultants years of experience
# of live projects with negative margin
% of deliverables accepted as planned by client and signed off
% of projects discontinued and effort list
% of repeat business with same client
Annual billable utilization %
Average length of assignments
Backlog of commissioned projects
Total amounts of discount given to clients
# of days to prepare a proposal
# of proposals declined by us
# of Request for Proposal (RFP) created by the client with our support
# of RFP found in public media
# of RFP reviewed and approved
% of extension requests to submit proposals given by clients
% of proposal delivered rejected or disqualified by clients
Ratio of won vs lost proposals
Total amount of proposals in pipeline (submitted), 1 month, 3 month, and 9 month
Average hours spent per proposal
Average % discount given to clients
% of won proposals
% of RFP received from clients 1 week prior to submission deadline
# Completion to billings
# of discontinued projects with unbilled services
# of lost projects to competition
# of partner’s hours worked
# of unpaid bills
% actual profit margin
% consulting hours generating revenue
% of profitable hours
Total unbilled efforts
Net profit per project
Average sales price per project
Average hourly fee
Average fee per new client
Cost of new clients acquisition
Average cost per proposal
Average annual revenue accrued from new client fees
% realization rate
% of work chargeability
# Hours spent networking
# of new social media connections made
% of social media growth
% of social media following churn rate
# of legal awareness sessions
# of lobbying campaigns launched
# of industry workshops attended
# of data compliance areas
# of legal obligations
% of strategic objectives achieved
% of terminated employee
Total IT security costs
# of self-audits completed
% of process improvements made
% of accepted audit findings
% of days delayed in field (weather, logistics)
# of contact plans with customers
# of contacts per account
# of customer accounts per manager
% of accounts past due
Average age of delinquent accounts
Average time between customer interactions
Frequency of account reviews
Net profit gained from single client over lifetime relationship
Total # of customer accounts per manager
# of Customer Experience improvements made (CE)
# of customer meetings
# of CE satisfaction reports
% of customers delighted (90% + CE Score)
# of enquires
# of new customers
% of client satisfaction
% of customer invoice accuracy rate
% of customer claims
% of customer feedback data analyzed
% of correct documentation supplied
% of customers affected by IT issues
% of rapid responses
% of satisfied customers
% of served market
Average customer response time
Mystery shopper rating (scale 1-12)
Mean time to detect a problem
First request versus agreements
First request versus negotiated
Average waiting time to restore services
# of service awards
Sales increase due to loyal clients
Frequency of sales transactions
Take some time to review your current methods of measurement and metrics. From this list there may be some that become CSF Critical Success Factors and KPI’s Key Performance Indicators for your business.
- What metrics do you measure that we have not listed here?
- Which metrics will you now start to implement for your business?
- Do you have any metrics challenges you are seeking help with? Contact us.
- Pop over to our dedicated Metrics page to see how we help people and companies like you.
Written by James Doyle, founder of JAMSO, success consultant and trainer. We have over 100 free articles, tools and resources for your success, including a great newsletter, subscribe now.
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