No, sales forecasting isn’t a black art. It’s not about telling your manager the number you think he or she wants to hear, either.
As sales and business strategist David Brock explains in this short video, sales forecasting is a disciplined process and there are concrete methods sales managers and reps can take to deliver stronger, more accurate sales forecasts. It comes down to two cornerstones:
- A high integrity profile, without which any forecast is doomed to be a wild guess.
- Clear ground rules, establishing the proper forecasting methodology as well as the level of accuracy expected.
In addition, Brock urges salespeople not to overlook the power of leveraging analytics to inform and compliment present forecasts. “In every case I’ve found, by taking a high integrity pipeline, having the right ground rules for what forecasting looks like, and cross-footing that with data analytics you can really start improving the accuracy of your forecast,” Brock advises.
For more tips on improving your forecasting, download OpenView’s new eBook, Sales Forecasts: A Question of Method, Not Magic.