Sales Webinar | The High Cost Of Poor Forecasting

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Bruce Ellis, President and CEO of The Bee Group explores the complex landscape of sales forecasting by helping you to categorize and define how differently each Sales Rep might approach their forecasting responsibility.

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Sales Webinar | The High Cost Of Poor Forecasting

  1. 1. The High Cost ofPoor ForecastingBruce Ellis | President | Bee Group
  2. 2. Introductions Bruce Ellis President & CEO Bee Group, Inc. © The TAS Group 2012
  3. 3. Poll #1How accurate are your Sales Forecasts?A: 80% +B: 60% - 80%C: 40% - 60%D: Less than 40%E: What’s a Sales Forecast? © The TAS Group 2012
  4. 4. Romania may get even tougher on witches © The TAS Group 2012
  5. 5. The ThreatA month after Romanian authoritiesbegan taxing them for their trade, thecountry’s soothsayers and fortunetellers are cursing a new bill thatthreatens fines or even prison if theirpredictions don’t come true.Would fines or punishment make Sales Forecasts more accurate? © The TAS Group 2012
  6. 6. Sales Rep Response • Dudley Do-Right • Over-Achiever • The Sand-Bagger • Rebel Without a Clause • Ghost-Rep © The TAS Group 2012
  7. 7. Poll #2How much time do you spend on your Sales Forecast?A: Not very much – No problemB: I wish I could spend less timeC: I spend way too much timeD: I try to get through it as fast as I can, but the data is not accurate © The TAS Group 2012
  8. 8. The Organizational Approach • No Bad News • Over-Assign Quota • Feet-to-the Fire • The Gambler © The TAS Group 2012
  9. 9. The ExcusesSuperstition, the Associated Press notes, is aserious matter in the land of Dracula, and atleast one witch argues that practitionersshouldn’t be blamed for the failure of theirtools.“They can’t condemn witches, they shouldcondemn the cards,” queen witch BrataraBuzea tells the AP.She also says witches shouldn’t be blamedfor bad predictions if clients don’t providetheir real identifies or dates of birth. © The TAS Group 2012
  10. 10. The Excuses… Continued• Don’t Blame Me… Blame the Tools• But, we have a CRM• Blame the Customer © The TAS Group 2012
  11. 11. Poll #3How Confident are you about your Sales Forecast?A: Our Forecast is Universally TrustedB: Our Forecast is Not Universally Trusted © The TAS Group 2012
  12. 12. Sales Forecast Confidence & Sales Performance © The TAS Group 2012
  13. 13. Barriers to Effective Sales Forecasting © The TAS Group 2012
  14. 14. Forecast Analysis is a best practice © The TAS Group 2012
  15. 15. Predictive Analytics Increases QuotaAchievement © The TAS Group 2012
  16. 16. What shall we do?• Sales Process & Sales Methodology• You have to “Nail your Sales Process”• Map sales activity to buyer behavior• Identify “choke points” where the sales cycle slows• Replace intuition based forecasting with fact-based predictive analytics © The TAS Group 2012
  17. 17. © The TAS Group 2012
  18. 18. Free Resources• www.dealmakerindex.com Score your sales effectiveness. Get advice. See how you compare.• www.dealmakergenius.com Create a customized sales process.• www.dealmaker365.com Read our blog featuring insights on sales effectiveness.• @dealmaker365 @thetasgroup Follow us on Twitter.• www.thetasgroup.com Learn more on our website. © The TAS Group 2012
  19. 19. Where You Can Find Us www.thetasgroup.com www.beegrp.com • US 866.570.3836 • US 855.921.0022 | 720-921-0022 • UK 01189 253 251 • info@beegrp.com • International +353 1 631 6140 • Twitter: @beegrp • marketing@thetasgroup.com • Blog: www.beegrp.com/blog • Twitter: @thetasgroup © The TAS Group 2012
  20. 20. The High Cost of PoorForecastingBruce Ellis | President | Bee Group

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