When it comes to predicting sales, you need to be sure of the figures. The sales figures that you share with the management and rest of the company reflect your efforts or that of your team. The overall picture of the business growth is formed using the estimated business that your company would be able to accomplish. The accuracy of the sales forecasts let your company timely adjust its business development figures. Let us have a look at the tips which would help you accurately predict results for your business development efforts.
When you are talking about entire team’s sales performance, you must collaborate. In order to ensure accuracy, all team members must regularly report their estimates. This way you would be able to form an overall picture of your organization. The inter-departmental coordination needs to be geared up. Manufacturing concerns for example can use the production figures to guesstimate the amount of sales that they should expect in the future.
Become More Consistent
The laziness in some companies of timely preparing reports is something that can cause problems. You as Sales Manager must make sure that all your team members are preparing sales estimates at the end of every month. If you only generate reports when you think your sales figures going up is not the right approach. Whitehats Cloud will help you consistently add figures and use available market information to more accurately predict the outcome for business development efforts.
Rely On CRM
CRM is important software for sales management. However, you cannot only use it to just manage your day to day sales activities but also predict the future sales efforts. There are many ways in which you can use Whitehats Cloud to estimate the amount of sales required. It lets you have a look at the different sources from which you had most sales. You can also zoom into information from particular industry. You can also view the leads and opportunities at different stages. Sales Managers can have a look at the sales figure region wise or by each employee. This lets them know areas or employees who are not doing well enough and need to have more focus.
Predict More Frequently
Every time you are trying to create a business development goal for the next month, always predict. There is a hidden fear of not giving your seniors a number when it comes to sales development. However, without giving much heed to “what would happen” you must predict the future expected sales. The regular predicting of sales would help you determine the expected amount of business that you would be able to develop and adjust accordingly.
Revise At the End of Each Period
When you predict the amount of sales figure you are expected to achieve and fail to do that, you will not always be able to achieve that. However, this should not mean that you need to get disappointed. Every time, you have not been able to reach your sales target, revisit your entire sales effort. Re-evaluate the market conditions actually prevailing. Now carefully examine what went wrong where and why you got a higher sales figure. When you predict the next time, make sure that you do not repeat the same mistakes all over again.