Managing and forecasting with CRM Presented by: NOOR ALI 06/07/22 FORCASTING PPT NOOR TEAM NIGERIA
Managing and forecasting with CRM
Presented by:NOOR ALI
04/10/23 FORCASTING PPT NOOR TEAM NIGERIA
FORCASTING PPT NOOR TEAM NIGERIA
Why should forecasting matter to you?
Revenue predictability
The impact of lower than expected revenue can be minimized if we get advance notice
Budgets are set according to revenue forecasts
Revenue growth and reliability in meeting forecast provides for continued support from our shareholders, partners for this quarter and beyond
04/10/23
FORCASTING PPT NOOR TEAM NIGERIA
CRM, forecasting and you…
CRM software allows users to track Opportunities from its initial stage as a “Lead” to the actual “Close” (order booked and shipped)
CRM is the Business Development Team’s for forecasting, tracking pipeline growth, analyzing trends and measuring sales cycles
You’re each driving the sales cycle and responsible for updating CRM to reflect the most current information about your accounts
04/10/23
FORCASTING PPT NOOR TEAM NIGERIA
The importance of accuracy!
Accurate forecasting is essential for a company to be successful
It is critical that all forecast as accurately as possible because of the cumulative effect (roll up)
If each account Sales Manager (4) erroneously forecasted an additional $100,000. It would add up to $400,000 in missed revenue
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FORCASTING PPT NOOR TEAM NIGERIA
Opportunity: % Probability to Close
The Business Development Team uses the %P to Close modeled
. Account Executives may be required to use the Blue Sheet
10% 40% 70% 80% 90% 100%
04/10/23
FORCASTING PPT NOOR TEAM NIGERIA
% Probabilities to Close
0% Exists in the universe above your sale funnel Calling into the accounts, doing research to
see if a OPERATOR has a need for our Products
At this stage, don’t look at the lead in isolation:
Paint the big picture
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FORCASTING PPT NOOR TEAM NIGERIA
10% Probability to Close
Initial Contact and Qualification Identified a partner or operator requirement. The beginning of the sale cycle Still need to understand Business Case,
Needs and Cover Bases Use “What do I want to get from this call”
qualification question and try to find out as much as possible the person you are speaking with
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FORCASTING PPT NOOR TEAM NIGERIA
40% Probability to Close
Qualifying the Opportunity more extensively from a Business, Technical and Economical perspective
Business: Is there a business case? What business problem will be solved with our solution? What pain has prompted them to spend time evaluating our solution? What is their sense of urgency to take action?
Technical: Can their business problem be solved with our technology? Is it a good fit?
Economical: Where do they expect to see a return on investment?
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FORCASTING PPT NOOR TEAM NIGERIA
40% Probability to Close con’t Develop a needs analysis, and qualify that the customer is motivated to do
something about these needs. Ask for Requirements Doc or Scoping doc. Do they have their requirements
defined on paper? Qualifying and covering all bases . Understand their purchasing process Who is the Economic buyer – has will sign off? Who can say NO? What process will be used to evaluate and validate the solution (e.g. vendor
presentations, RFP?) Purchasing Rep contact Time typical to complete the purchase req/PO at this organization?
Competition identified – who? How are evaluating them? When ? Why? Confirm budget and time when budget is available Refine opportunity size + incremental business opportunities Send additional documentation if needed Involve other Haier departments or partners if needed (Execs, Legal, Channel
Partners etc…)
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FORCASTING PPT NOOR TEAM NIGERIA
70% Probability to Close Deliver quote/proposal (solution) You know who the competition is and have addressed customer’s needs and know where
our Solution stands. Haier solution is shortlisted Focus on ROI
Clear understanding of Business Issues/Challenges and how we will address and provide value/solution
Be able to communicate the ROI in a way that separates us from the competition Have covered all Bases, and know the Buyer Influencers Know their PO process You know their signing process and who needs to sign off
Or standard PO? Haier Sales/Legal Process Credit approval/credit app
Review this process with Business head Development Timing to close = current quarter
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FORCASTING PPT NOOR TEAM NIGERIA
80% Probability to Close
Technical Decision Made Have PO /or you are 99% you will get PO
next day Have method of payment from customer
ready Submitted Order Form Timing to close = current quarter Haier Finance/Legal may be reviewing
PO/Contract
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FORCASTING PPT NOOR TEAM NIGERIA
100%
Opportunity Won and Closed in Haier CRM
Order has been shipped and paid for in full
Revenue is recognized by Haier
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FORCASTING PPT NOOR TEAM NIGERIA
Opportunity Expected/Actual Dates
Always be conscious of Fiscal Calendar Entering wrong dates (Expected/Actual) can slip
forecast out of desired Quarter/Month Update dates frequently Most Forecast Reporting is Quarterly
You are responsible for ensuring dates reflect correct time period.
When a new Quarter/Month begins, existing out of date forecast will not roll forward automatically
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FORCASTING PPT NOOR TEAM NIGERIA
When to Update each Opportunity Information
You are responsible for keeping all of your opportunity up to date
Forecast and Management reports are created based on this information
Move your opportunity from 10% to 40% to … as they progress through sales cycle
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FORCASTING PPT NOOR TEAM NIGERIA
TEAM AFRICA Welcome to the Team and Good Selling
04/10/23