What To Do About Inaccurate Sales Forecasting

Inaccurate sales forecasting can create problems for business owners.

Sales Forecasting = Accountability

91% of people fail their New Year's’ resolutions, most before the 6-month mark*. Why? It’s the same reason most sales demo’s don’t turn into deals.

Setting vague goals and keeping them to yourself is a sure way to fail. Yet every day, all around the world salespeople end a sales demo with a vague goal of doing business someday, without a committed next step from their prospect. Others secure the next sales meeting but don’t underwrite that hard-earned meeting with a true game-plan to make progress.

As a salesperson, when was the last time a buyer let you down when you had assumed you were going to move forward on the next call or you forecasted a deal which then disappeared?

If this sales forecasting problem has happened to you, then try this:

As you’re wrapping up your initial demo, confirm with your prospect what you learned, any outstanding points to clarify, and their criteria for satisfaction with a new vendor (you!). Agree to the time and date for the next call, who will be on it, and who’s doing what in between the calls. You may have some tasks to get this moving, and so will your potential client to sell it internally. Be sure to have your prospect agree to talk with other stakeholders on their team.

You just exchanged a verbal contract of accountability.

Just like sharing a new years resolution with a partner or friend, you’re making it harder for both of you to fail.

Next call - you lead with: “Last time we spoke, we agreed we would get [list the tasks] done and then we would meet today to take the next steps, how did that go on your side?”

When they have done their part you now have a partner in getting this deal moving, you know you can work with them on this two-sided project called a deal.

If they have not done their part it will tell you a lot about your deal forecast, your prospect’s ability (or willingness) to help close the deal, and any issues that would likely have arisen later, potentially wasting your time and killing your month.

Congratulations! You just used accountability to make your sales forecast way more accurate.

If your sales team needs help improving accountability, we can help. Contact us for a free consultation today!

Stats from * https://www.statisticbrain.com/new-years-resolution-statistics/