Your revenue from B2B sales has never been so foreseeable!
Each company, without exception, exists to realize its own mission and generate profit. Whilst mission gives a meaning to your actions, financial result is an outcome of many factors such as strategy and capacity of the whole organization to execute it effectively.
Houston we have a problem!
Sales teams which are accountable for building company budget, by fulfilling their sales plans, play a key role in the execution of aforementioned strategy. As long as business thrives, company grows, everyone including CEO and shareholders remain content. If a company is in the black dreams of further development are somewhat taken for granted. However, it happens that results are below par and atmosphere inside the company turns sour. To make matters worse, dense clouds gather over sales department at a pace directly proportional to a number of disturbing news forwarded by management board members to a sales director. Each message containing at least few inconvenient questions, one of a premium importance: what revenue can we expect during the upcoming month, quarter or fiscal year? This is the moment when a first bead of cold sweat marks its presence of sales director’s forehead
How is it done without CRM?
Deadlock, however doesn’t last long as we have the most creative and dynamic person in the whole company on board! Sales director has few options to choose from: can follow his gut feeling and bolster his actions with historical data, scrutinize trends, interrogate his reps, multiply obtained value by a coefficient of his own optimism (or pessimism) and send a received outcome to a management board. With a bit of luck he is able to realize established goal and turn things around for a short while.
Why not Salesforce?
A second option, he can undertake, is a utilization of Salesforce solution. Assuming that a sales director has already chosen and implemented this type of system and most importantly has formed inside his own organization a habit of treating CRM as the only reliable source of information about his clients, sales opportunities and their current status, an answer to his management board question can be handled within a click of one button. It is suffice to generate a report summing up the value of sales opportunities with forecast status and its closing due date within a relevant period of time to see a value of forecasted profits. That data can be displayed in various configurations: per region, salesperson, product, sales channel etc. If a forecasted value does not satisfy your management board, we are able to scrutinize in details the whole plan of getting back on track. It is suffice to analyze “a pipeline gap” to find out what value of sales opportunities you need to generate, taking into account a sales efficiency ratio and an average sales cycle in order to obtain an expected outcome. This way of presenting data allows you to plan your steps consciously, including activities within sales (e.g. prospecting) and marketing. Everything is based on hard data, what has an incredible meaning to communication and justification of individual goals forwarded to particular managers or salespeople!
Described approach to forecasting a sales outcome is only one among many elements of modern sales management. LevelApp turns underutilized potential into visible results. If you wish to find out how our company may help your organization – contact with us.