Sales
Forecasting
As you discovered in the
earlier chapters, basing your forecasts on current trends and projecting them
into a future time slot can be more accurate than you realized. With that
knowledge, you can determine the future performance of your sales team and make
the necessary adjustment to attain the organizational goals.
Accurate, effective sales forecasts and plans involve an
integration of subjective and objective knowledge and balanced top-down and
bottom-up input and needs.
The sales team applies its specific micro view of the territory
based on past and present trends. Team members also integrate their unique
knowledge of changes within their primary customer operations. This knowledge is
blended with the marketing department’s macro view of market segments,
industries, environments, regulations, demographics, psycho-graphics,
technology, economy, competitors, suppliers, and lifestyle changes.
The third ingredient in this amazing blend is the
contribution made by senior management and executives, hopefully with the help
of the company’s financial minds. They contribute any changes in organizational
directions or business focus, financial requirements (return on investment
[ROI], return on investment capital [ROIC], shareholder value, return on net
assets [RONA], etc.), productivity requirements, and resource availability. The
combined result can be a disaster or a phenomenal contribution to your sales
team’s success
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