BoostUp

In the simplest terms, sales forecasting is known to be an estimation of the volumes of sales which a company expects in a planned period. Apart from just sales predicting, sales forecasting is the process of matching the opportunities with the marketing efforts of the sales force. 1. Qualitative Methods of Sales Forecasting : These are subjective, judgemental, and intuitive methods of forecasting. Qualitative predictive sales forecasting methods are primarily used when there is either little or absolutely no historical data available for the product or service. In this case, the trends which have been observed do not work.     The qualitative methods of forecasting rest on the judgments either of the professionals or people’s collective knowledge based on the industry analysis.     The main qualitative forecasting methods include:    A: Delphi method  B: Survey of buyers’ expectation method  C: Expert’s opinion met...

If you want to take your financial future to a business plan from a wishlist, you may need revenue forecasting software . As the name suggests, this software gives an estimate of your revenue over a fixed time. It closely analyses the performance of your business and predicts its future revenue. The revenue forecasting software gives historical reports that reflect the strengths and weaknesses of the business. There are three steps of revenue forecasting:- 1.     Analysis- This involves a profound study of the numbers in your business. The step indicates where your finances are being used. 2.     Management- This step comprises maintaining the income and expenses of the business. 3.     Strategy- This covers strategies to cut down expenses and develop sources of income. Benefits of Revenue Forecasting Software Predictive sales forecasting by the software provides the following services and benefits:- 1.     Reg...

Earning your Admin credential is a great testament to all you’ve learned, plus it shows your commitment to your company’s success and your continued professional development. After all, you know better than anyone how your work as a Salesforce Admin contributes to your company’s success as a whole. Tips to prepare for salesforce examination: Know about the exam: Experts who are into Sales forecasting say that to pass your Admin certification exam; you need to have a broad knowledge of customizing Salesforce, configuring the platform, managing users, and looking for ways to get even more out of its features and capabilities. The exam guide is your best resource to understand the exam format, including several questions. Look for some friends to study with: Professionals who offer predictive sales forecasting say that nothing helps more when studying for an exam than having friends to join you on the journey. Practice more: No amount of studying can compare to how valuabl...

Sales forecasting  can indeed play a huge role when it comes to making your company more successful. Accurate or  predictive salesforecasting   allows both the businesses and the salespeople to make smarter and wiser decisions. In a business, there are many times when we need to make decisions that can make or break the business, such as during the following:    1. While setting goals  2. Hiring Process  3. Budgeting  4. Prospecting  5. Growth strategies      What is a Sales Forecasting?     To master the concept of practically using sales forecasting in the business, it is essential to understand what sales forecasting means in the layman language. Explaining in simple terms, sales forecasting exactly predicts what a sales manager, team, or business will perhaps sell in the next week, month, quarter, or year.    There are ample managers out there who use sales forecasting to estimate...

For a fast-growing enterprise today, Sales forecasting has become one of the vital technology used by the companies on a broader base. Here are the four steps to preparing a sales forecast: Step 1: Define the terms: The core foundation of a successful deployment CRM and a prerequisite for all the forecasts to be accurate are two things, that are: A: well-understood sales B: Well-defined sales Step 2: Communication of the sales strategy: The next step is to define the strategy then and adequately to articulate to get from one stage to the other. Each stage in salesforecasting has a defined set of exit criteria and the artifacts about the system. Step 3: Ensure that the source for predictive sales forecasting is on point: Once all the elements are in place to create a base for the foundation, it then all boils down to modeling and driving the right behavior.   For example, it becomes critical to run all the forecasts and the sales meeting using CRM. Step 4: Go Bey...