You want to improve your sales forecasting skills. What feedback should you use?

Once you've set up reports start tracking how long a potential client sits in each stage. They should be moving through the pipeline at a consistent pace towards the sale. Even if they're in the final stage you may not want to consider them a hot lead after they cross a certain time frame based on your sales cycle. You need to stay objective. Just having a bulk of prospects in your "negotiations" or "contract sent" stage isn't helpful if they aren't moving forward. Pick a hard line and don't forecast them if they've been in that stage more than X days. This forces you to prospect new clients sooner, clear out dead leads faster and re-market more efficiently.

??- Feedback is key to refining sales forecasting skills. Utilize internal data, reports, and analysis, alongside External sources like market trends and customer feedback. Blend both for a holistic view, but remain vigilant of biases. Cross-check information to ensure accuracy and reliability. ??????

Improving sales forecasting skills relies on a variety of feedback sources, both internal and external. Internally, tapping into your own sales data, reports, and analysis provides invaluable insights into past performance and trends. Externally, factors like market trends, customer feedback, and competitor intelligence offer perspectives on the broader landscape. A balanced approach, integrating both internal and external feedback, ensures a comprehensive understanding of the sales situation and potential. However, it's crucial to acknowledge the limitations and biases inherent in each source. Verify and cross-check information from multiple channels to mitigate potential inaccuracies or blind spots.

???- Feedback frequency varies based on sales environment dynamics. For seasonal products, frequent updates are crucial to adapt to demand shifts. Stable products may require less frequent adjustments to prevent overreaction. Tailor feedback timing to align with short and long-term goals. ?????

The frequency of utilizing feedback to update and revise sales forecasts depends on the dynamics of your sales environment. For instance, in industries with seasonal or cyclical products, more frequent feedback incorporation is necessary to adapt to fluctuations in demand and supply. Conversely, for stable or predictable products, less frequent feedback utilization can prevent overreaction to minor fluctuations.

?? - Utilize high-quality feedback for effective sales forecasting. Ensure accuracy by verifying data integrity and minimizing distortions. Seek reliable feedback sources to maintain consistency and trustworthiness. Prioritize actionable insights that drive meaningful improvements in forecasting strategies. ??????

Never ignore feedback from a customer. (positive or negative) A customer satisfaction survey automation system, like Medallia, triggers actions based on responses or ratings. It categorizes feedback, identifying critical issues or positive feedback. Automated workflows then route responses to relevant person for action. Make sure the triggered calls to action are tracked by salesperson (in your CRM). For instance, low ratings can prompt immediate follow-up, while high ratings trigger requests for reviews or referrals. This streamlines response handling, improves customer experience, and enables proactive issue resolution. If they didn't want to talk about, they wouldn't have answered a survey that took time out of their day.

Hi....Thoughtful.... Ponder on these factors: 》》 SALES LEADERSHIP must be hands on in the market. Meaning, pulse of the audience ! 》》 Analyze lost leads ! Why ? 》》 Analyze Stolen Customers ( lost to competitors) ! Why ? 》》 Your team strength vis a vis Market size, Competitors strength ! 》》 Analyze your current market share vs your future goals! 》》 Be realistic! 》》 Remember, every Battle is won before it is fought and Nothing moves until something is SOLD. 》》 Selling is evolving and has become immensely challenging! Follow #rkthoughts #rkquestions #rkquestions.....Are you proud to be a SALESMAN? Happy Selling!