What exactly is sales forecasting? A budget? A target? A quota?
It’s one of those practices that almost every organization engages in but almost every organization also fails at, if not once then continually.
What makes it even worse is that so many companies are totally aware of this. A third of sales organizations don’t have confidence that the things they’re asking their sales people to do will actually result in better sales or performance, and 46% have a negative view of their sales forecasting accuracy.
So much of it comes down to confusion around what sales forecast actually IS.
For example, a lot of organizations confuse sales forecasting with pipeline management. Also, technology isn’t giving most sales managers the visibility they need into sales processes and results.
But most if not all sales managers still consider sales forecasting to be VERY important. Companies that forecast better are much more likely to hit their targets and drive the behavior they want from their reps.
So how do you fix it?
How can you do it WELL?
How can you spend less time on it with better results?
The Sales Management Association (SMA) is a global, cross-industry professional association for managers focused on salesforce effectiveness.
I recently hosted a webinar with SMA chairman Bob Kelly and Jason Jordan, a partner at Vantage Point Performance and a recognized thought leader in B2B sales.
In the webinar we discuss:
- Why sales forecasting is important.
- Why it isn’t coaching.
- Why it isn’t pipeline management.
- How to transform your sales forecasting process into a value-building and get maximum results from minimum time investment.
Listen to it here.