Find out what a Sales Forecast is and how to create one that helps you guide your business processes
Posted: Tue Dec 17, 2024 8:22 am
The sales forecast is the estimation and prediction of the demand for goods or services at a given time.
By using this technique, you will be able to know with greater certainty what will happen in the future in order to make more effective decisions and achieve the desired objective.
For this reason, it is important that it be applied throughout the entire series of steps that a company takes from the moment it tries to capture the attention of a potential client , until the transaction is carried out satisfactorily.
The sales forecast can be used qualitatively and quantitatively.
The first is provided by the company's staff, therefore, it is fiji email list 91533 contact leads more general, while the second is more specific since it is based on the company's sales history.
Whatever method is used, the results must be published as they are. This way, we will have a more objective and accurate view in order to make the necessary corrections.
We will go into more detail throughout the article, explaining its factors, importance and what to do based on its results.
Factors that make up a sales forecast
You already know what a sales forecast is, now you should know that there are two factors identified to achieve an effective sales forecast. These are:
Tangibles
It refers to the data obtained — and objectives — from the business, such as:
the order information history,
sales and offers report,
agreed deliveries,
etc.
Intangibles
In this case, there are all kinds of estimates, whether it is the sales we expect as a result of a successful marketing strategy , the movements and actions of the competition, among others. They are evaluations covered with a certain formality that, in any case, must be future-proof.
Strategic importance of a sales forecast
When it comes to strategy, sales forecasting is the differentiating element that every company must include in its planning, due to:
Competition between companies
The competition that exists between companies in the market is a determining factor for an effective sales forecast.
A close projection of our competitors will provide us with different benefits, we will be able to manage better prices, differential services, etc.
By using this technique, you will be able to know with greater certainty what will happen in the future in order to make more effective decisions and achieve the desired objective.
For this reason, it is important that it be applied throughout the entire series of steps that a company takes from the moment it tries to capture the attention of a potential client , until the transaction is carried out satisfactorily.
The sales forecast can be used qualitatively and quantitatively.
The first is provided by the company's staff, therefore, it is fiji email list 91533 contact leads more general, while the second is more specific since it is based on the company's sales history.
Whatever method is used, the results must be published as they are. This way, we will have a more objective and accurate view in order to make the necessary corrections.
We will go into more detail throughout the article, explaining its factors, importance and what to do based on its results.
Factors that make up a sales forecast
You already know what a sales forecast is, now you should know that there are two factors identified to achieve an effective sales forecast. These are:
Tangibles
It refers to the data obtained — and objectives — from the business, such as:
the order information history,
sales and offers report,
agreed deliveries,
etc.
Intangibles
In this case, there are all kinds of estimates, whether it is the sales we expect as a result of a successful marketing strategy , the movements and actions of the competition, among others. They are evaluations covered with a certain formality that, in any case, must be future-proof.
Strategic importance of a sales forecast
When it comes to strategy, sales forecasting is the differentiating element that every company must include in its planning, due to:
Competition between companies
The competition that exists between companies in the market is a determining factor for an effective sales forecast.
A close projection of our competitors will provide us with different benefits, we will be able to manage better prices, differential services, etc.