The science of forecasting is the arithmetic to do totals and to calculate a ‘close’ percentage. But, in practice, Art is more important.
Art is coaching your Sales Reps to understand.
For most companies, every deal is different, but not wildly different. The steps in a strategy to move one prospect along the sales cycle is mostly a tactical variation of the strategy used for the last prospect.
For this reason, forecasting does not need to be complicated. And, ContactScience® Forecasting is a simpler and better way. ContactScience® Forecasting has three value propositions to address every forecasting challenge.
Any current pipeline approach can be adapted to this four-stage model. Converting from an existing CRM is easy. Existing steps are aggregated into one of the four stages. We help you do that.
The four stages we suggest are Information Gathering, Solution Confirmation, Proposal, Negotiation.
For each stage, there is a set of questions to be answered and tasks to complete to get to the next stage.
Only when the information is gathered can the opportunity be moved to the next stage.
If the probability of closing any prospect in the Information Gathering stage is 20 percent, the long term forecast of a $1000 deal is valued at $200.
This feature provides a future forecast based on the prospects current step. We suggest starting out with the probabilities of 20%, 40%, 60%, 80% respectively for each stage.
The Visual Nature of the Forecast provides an immediate snapshot of whether the forecast is balanced. Does Sales move prospects into the stages in a predictable pattern?
The mechanics are Science, often click intensive, often complicated. ContactScience® has a two screen and a mouse approach for Managers to easily forecast revenue.
whether the prospect should move to the next stage.
value of the deal.
the expected close date.
From the Forecasting report screen, managers can access the opportunity details with one click. If they make changes, they return to the report with changes reflected.
Note: A great insight into long-term revenue health is to examine the number of Initial Appointments currently set. Initial meetings feed the forecast. The report also shows who is scheduled for First Appointments.