sales forecasting

Selling a Forecasting Solution to Your CEO

A forecasting solution that goes above and beyond the capabilities of your existing CRM provides your organization with many benefits. You can have better visibility into future cash flow, identify gaps that throw off your original predictions, provide valuable data for building an effective sales strategy, and many other improvements.

You’ve tried selling a forecasting solution to your CEO, only to get your request rejected. Are you focusing too much on the forecasting solution’s features rather than the value it brings to the senior executive team? The next time you’re trying to find the budget for a sales forecasting tool, bring up these points to your CEO or relevant decision makers.

Makes Your Salespeople More Accountable

A sales forecasting solution increases visibility into the sales team’s efforts. Executives can use a top-down view or drill down for a granular look at the deals in the pipeline. Salespeople are held accountable to their numbers when everyone can see them, which can limit overly negative or positive assumptions about when sales are due to close and their size.

Have Honest Conversations Across the Team

The numbers are out there in the open, so it’s easier to have honest conversations across the team. Your CEO can see the forecasts from the bottom up, starting with the sales team’s deal reports and following them up through each layer of management. If problems occur during the roll up that throw off the forecast, the executive team can pinpoint exactly where things started to go wrong. Overrides help keep the numbers realistic and accurate at each level, reducing the chance that you end up with forecasts that are too far over or under the expected numbers.

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Helps Your Managers Make You More Money

More effective pipeline management is one of the biggest benefits of adopting a forecasting solution.

Sales managers have a better idea about the deals in the pipeline in the future. They can proactively address any issues that would get in the way of meeting revenue goals without having to bring in deals for future quarters to make up the difference.

Be Predictable About Growth

Without sales forecasting, it’s difficult to determine cash flow in the future. There are too many variables for the sales team to try to manage it manually, especially for larger organizations. It’s difficult, if not impossible, to have predictable growth when the company doesn’t have accurate information on how much revenue is coming in and when. Sales forecasting provides the data required to drive these decisions and empower the CEO to make future plans without worrying about unexpected drops in cash flow.

Focus All Your Teams That Impact Revenue

Sales forecasting solutions give your revenue-generating teams hard data about the current and future financial quarters. They know whether they’re on-track to meet or exceed the sales quota if big deals suddenly stall or go away entirely, and what they need to do on team and individual levels to keep sufficient momentum. Managers can guide their teams in the right direction with a top-down perspective that sees the bigger picture. Everyone can collaborate and focus on strategies that adapt to upcoming situations, rather than reacting to them when they occur.

You have to talk about these benefits with your senior executive team before a single word comes out of your mouth about the features. Address what’s in it for them first so that you can justify the budget for a forecasting solution. It’s time to make this sale.

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