Prospecting on Purpose Ep 38: Best Tips In Creating And Maintaining Sales Forecasts
Sep 18, 2023
Discover the essential skills for mastering sales forecasting. Learn how to leverage historical data and market trends to create accurate predictions. The discussion includes setting achievable goals and making necessary adjustments based on market changes. Regular progress checks are emphasized, with a target of 20% annual growth. Enhance your ability to navigate the complexities of sales forecasting while fostering a culture of continuous learning.
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Use Data for Accurate Forecasts
- Gather historical data including sales volume by clients, products, and channels as a baseline for your forecast.
- Identify key drivers like market trends, seasonality, and customer demographics to anticipate future sales accurately.
Time Breakdown & Seasonality
- Break down your sales goals into annual, quarterly, monthly, weekly, and daily periods for better tracking.
- Adjust your goals for seasonality, reducing targets in slower months, and compensating in busier ones.
Construction Seasonality Experience
- In construction, summertime and December were slower sales months due to holidays and vacations.
- Adjusting goals to reflect this seasonality helped manage realistic sales targets.