Spoiler Alert: Predicting exactly future sales is impossible. But by introducing an efficient Sales forecast into our organization, we can get very close.
How many new leads do we need in this quarter in order to reach our turnover target? Do we need to expand our sales team? How much revenue will be able to bring this new product/service?
Every day the Sales Managers reflect on these and other similar questions. Sales are the lifeblood of all organizations, and having an idea of what to expect in the future provides a good basis for taking better and data-driven decisions.
And it is precisely for this reason that Sales Forecast is able to influence growth.
The power that derives from its introduction, is not limited to show accurate sales forecasts, but is able to condition current and future agreements, avoid any obstacles and allow to correct the shot.
Just being aware of which contracts are closing, does not drive the growth, but a sales forecast that allows a proactive approach of the sales team, can make the difference.
Proactivity for immediate actions
Let’s give some practical examples. Think of a decision maker who has been trying to get budget approval for some time: It is likely that the closure will not take place soon.
Sales Forecast helps Sales Teams in situations that match this: by giving them the opportunity to examine the pipeline, they can take preventive action to avoid risks. Moreover, in this way we will obtain truthful pipelines, not “inflated” by agreements that we will hardly see succeed, thus avoiding inaccurate revenue projections.
Let’s not forget that a good Sales Forecasting requires active pipeline management, to identify useful correlations of individual activities and results.
Why is that necessary? In this way, we can identify the winning tactics and focus on them, instead eliminating those that do not work and do not bring results in our sales process.
For example, understanding the most successful channel, can help us to avoid a waste of resources: The expansion of customers is greater when our commercial calls them by phone or when he tries to reach them with an email?
Determine the impact of new processes and tools
Another important aspect for Sales Forecast to drive growth is the right tool. A primary goal of organizations is to enable traders to make more sales in the shortest possible time, and precisely for this reason it is important to ensure them better processes and tools that avoid slowdowns in their operations.
Our experience leads us to be aware of the risk of implementing new tools, but if carefully evaluated the situation and business needs, saving time and increasing sales performance, it is certain. Less time for administrative activities, in fact, translates with more time for your focus and then to effectively conclude more negotiations.
Whatever is your industry, an accurate Sales Forecasting gives you the ability to project future revenues and figure out how to grow them.
Predictions allow your team to act quickly and proactively, chooseing the best sales tactic and taking advantage of new opportunities.
If implemented correctly, a Sales Forecast solution becomes a key asset for steady revenue growth.
And how are you driving growth? If you want to start expanding your possibilities, contact us.
If you want to know more about the topic, stay tuned to our Insights section or on our Linkedin page.