We can all agree that forecasting’s objective is to provide you with the information you need to make intelligent decisions in the present, not only to predict the future. So, are you a finance professional, or maybe you work in sales? Well, in that case, you can highly benefit from getting to know these 5 sales forecasting methods.
Let’s dive deep into the subject together.
Table of Contents
5 Sales Forecasting Methods
In my recent studies, I made a keen observation in sales and how to forecast them. Therefore, I invite you to learn these 5 techniques if you want to forecast sales and achieve better overall results.
Top five sales forecasting methods I use:
- Scenario Planning
- Sales Force Composite Method
- Market Build-Up
- Lead-driven
- Opportunity stage
Now, let’s take a closer look at each method.
1. Scenario Planning
First, you should consider doing complete scenario planning. Simply brainstorm different circumstances and how they might impact sales.
2. Sales Force Composite Method
Second, take a good look at the sales representatives’ forecast for their territory or accounts.
3. Market Build-Up
Next, based on data about the industry, you should be able to estimate the global demand. Therefore, apply your estimated market share to obtain your sales forecast.
4. Lead-driven
Furthermore, analyze each lead source and assign a value based on historical sales data from each of the lead sources.
5. Opportunity stage
Lastly, based on where the prospect is in your pipeline, you should be able to calculate the chances of the deal closing.
Final Thoughts on Sales Forecasting Methods
From everything you can see, these sales forecasting methods I use in order to predict my revenue and see where I’m headed. In that light, I’d highly recommend you try it as well. And, if you’re interested in learning more, you can always check out my online course.
👉 Which method did you already use?
