Track Your Weekly Sales Forecast
It’s no coincidence that there’s always high pressure on sales forecasts and reports: sales determine business development strategies. Upward forecasts will not drive the same strategies and activities as downward forecasts. These data are crucial to the decision-making process. How do you accurately track your weekly sales forecasts? How do you keep your sales team’s activities visible?
The Numerous Benefits for Your Sales Team
Setting sales targets for your employees has two consequences:
Setting and monitoring objectives
- Each salesperson gains a clear understanding of their responsibilities and the expectations of their manager.
- Visible progress will be a source of motivation.
involves the sales manager in the sales team’s daily work and promotes overall productivity. Employees feel guided, considered, and understood.
From a managerial point of view, predicting the team’s sales requires a good knowledge of the market. How mature is the market? Are there any new competitors? The weekly adjustment of sales forecasts increases market understanding. And subsequently, the manager will be able to provide his supervisors a report on forecasts and the results of actual sales.
Manage a Shared Table to Effectively Forecast Your Sales
When the sales manager has the ability to give controlled access to specific people, a collaborative sales target table can be shared with the sales team. Depending on the types of accounts that salespeople are responsible for (large enterprises, small and medium-sized enterprises or SMEs, start-ups), the manager can adapt information sharing and thus facilitate the team’s synergy. Each employee can be made responsible for updating their monthly forecast once a week and capturing the related revenues at the end of the month. The manager can set up formulas to calculate the percentage of the objectives achieved by each team member. The shared table may include the following data:
- Sales Representative
- Sales Manager
- Team (large enterprise, SME, start-up)
- Forecast Attainment
- Actual Revenue
- Actual Attainment
- Goal achieved or not
The manager can adjust the table when objectives are achieved. Another useful feature of this type of sheet is that the tool can be replicated for several years, making data easily comparable and ready for inclusion in a commercial dashboard.
Providing clear and accurate objectives to your sales team encourages their cohesion and confidence. And reporting on sales objectives in a clear and timely way supports strategic decision making by management. Check out the collaborative table templates offered by RowShare and boost your sales team’s productivity!