By using this technique, you will be able to know with greater certainty what will happen in the future
in order to make more effective decisions and achieve the desired objective.
For this reason, it is important that it be applied throughout the entire series of steps that a company
takes from the moment it tries to capture the attention of a potential client , until the transaction is
carried out satisfactorily.
The sales forecast can be used qualitatively and quantitatively.
The first is provided by the company’s staff, therefore, it is more general, while the second is more
specific since it is based on the company’s sales history.
Whatever method is used, the results must be published as they are. This way, we will have a more
objective and accurate view in order to make the necessary corrections.
We will go into more detail throughout the article, explaining its factors, importance and what to do
based on its results.
Factors that make up a sales forecast
You already know what a sales forecast is, russia telegram data now you should know that there are
two factors identified to achieve an effective sales forecast. These are:
Tangibles
It refers to the data obtained — and objectives — from the business, such as:
- the order information history,
- sales and offers report,
- agreed deliveries,
- etc.
Intangibles
In this case, there are all kinds of estimates, whether it is the sales we expect as a result of a
successful marketing strategy , the movements and actions of the competition, among others. They
are evaluations covered with a certain formality that, in any case, must be future-proof.
Strategic importance of a sales forecast
When it comes to strategy, sales forecasting dennis wong co-founder & ceo is the differentiating
element that every company must include in its planning, due to:
Competition between companies
The competition that exists between companies in the market is a determining factor for an effective
sales forecast.
A close projection of our competitors will provide us with different benefits, we will be able to manage
better prices, differential services, etc.
Customer satisfaction
A successful sales projection allows our sales force to bring the product or service closer to the end consumer and, in this way, increase the conversion rate and loyalty.
Now, why do we make a projection in business processes?
Find out the reasons:
- cost reduction;
- infrastructure optimization;
- adds value to all your processes;
- reduction of the margin of error, therefore, you will be exposed to fewer dangerous situations.
How does forecasting help the sales team?
- allocation of territories;
- defines sales quotas for each salesperson ;
- measures job performance.
Sales forecasting helps improve the performance of the sales structure in any type and size of company.
What are the most important data in a Sales Forecast?
The forecasts that must be included b2c reviews to prepare a good sales forecast must enable:
- find trends that allow us to know how the development will be in the rest of the period based on sales, history, among others;
- achieve a broad view of the product, market and company situation;
- create alerts that must be sent to those responsible for the product, channel or branch to determine corrective measures;
- estimate new business proposals based on the results obtained;
- detect customer sections that are not evolving as expected and thus implement new measures.
- know the levels of raw materials or finished product materials based on the projected products;
- quantify the necessary investment and promotions for the marketing area;
- evaluate various options to increase productive capacity.
Its usefulness is incredible!
How to structure data?
To develop a correct data structure we must take into account the following:
- What does the user need? (salespeople, sales managers, among others);
- What level of detail will there be in relation to sales by branch, seller, channel, etc.?
- You need to have information from all the departments involved to enrich the sales
- report by showing detailed information on the fulfillment of the forecast and its consequence
- on production.
- include external information from statistics and data companies – private or public
- – to be able to measure the position of our company in the target market;
- They must be structured to be sensitive to alerts and changes.
For an optimal level of information, they must be focused with vision on all those fields that need to be improved.
In a sales forecast, data must be able to be expressed — and understood — in any way, and must provide comparisons between different types of information and their updated results, regardless of their volume or origin.
Best practices for preparing a sales forecast
Learn these 3 methods for creating an effective sales forecast and how to make decisions based on the results.
This type of method provides objectivity, since it is based on proven calculations in all types of sectors and industries.
Mainly, if you have a sales history, you can make estimates based on mathematical projections.
This technique is represented in graphs that can detect trends and how demand has affected the
economic situation of a particular market or the effects (positive or negative) of the marketing actions implemented.
To materialize this, some effective tools are Excel or Google Sheets.
2. Include the entire company in the Forecast
In order to achieve the established goals , forecasting exercises must be collaborative, turning the
process into a collaborative cycle.
In this way, the entire company will understand the process being carried out, reducing the margin of error in sales projections.
3. Create “what-if?” scenarios
Its literal translation is “what if”. You must create multiple scenarios with different forecasts to make the best decisions.