focus on forecasting - marketers take flight · 2020-01-15 · salesforce. to get their forecast. #...
TRANSCRIPT
Focus on ForecastingAlw ays looking ba ck at how you did? Look forw a rd instea d!
Lindsay Diven , CPSM a nd Sta cey Ho, CPSM
AgendaWhat is Forecasting?A/E/C Sales Forecast Research ResultsSet Up Your Data for Successful (and Easy) ForecastingForecasting Method ExamplesMaintaining Your ForecastReading the Results and Using Your Forecast + Bonus UsesRemoving Barriers - Get Started Today!Q&A
1
2
3
4
5
6
7
8
WHAT IS FORECASTING
A LITTLE BIT SCIENCE,
AND A LITTLE BIT
CRYSTAL BALL
SURVEY RESULTS
Both33%
Full Estimated Sales Value
16%
Weighted % of Potential Sale
51%
84% of respondents said that they use either just a weighted or a weighted and full value of the pursuit when forecasting.
119Survey Responses*
responses (as of 1-12-2020)82%
of respondents are doing some
form of forecasting
98% of respondents
that are NOT currently forecasting believe that
doing so would be a valuable effort for their firm
TOP things firms found valuable about forecasting1. Team Resource Planning2. Better GO/NO-GO
Decisions3. Ability to Meet Sales
Goals4. Better ROI
The majority of firms are using
DELTEKEXCEL
COSENTIALMS DYNAMICS
SALESFORCEto get their forecast.
# 1 Challenge
when trying to forecast
Lack of correct data (including Inaccurate
sales estimates or dates)
“Our main objectives are to determine success rate, track cost to produce proposals more accurately, identify holes in the pipeline and forecast crazy resource intensive months.”
SETTING UP YOUR DATA
Setting up for success…
PeopleProcessDataTemplate/Tech
EXAMPLE FORECASTING METHODS/TOOLS
Example 1 (Excel) – Starter Kit SpreadsheetSetup the data…
Example 1 (Excel) – Starter Kit SpreadsheetUse pivot tables in excel to estimate your forecast by dates….
Example 1 (Excel) – Starter Kit Spreadsheet
Jan (Acutal) Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecForecast $29,600 $34,600 $44,800 $89,970 $94,970 $137,419 $145,119 $338,879 $339,304 $355,954 $363,754 $418,354Goal $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $250,000 $300,000 $350,000 $375,000 $400,000
Dec Forecast, $418,354
Dec Goal, $400,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
2020 Forecast vs Goal
Use charts in excel to help visualize your plan against the goal….
Example 2– Deltek Vantagepoint CRM
Example 2– Deltek Vantagepoint CRM
Example 2– Deltek Vantagepoint CRM
MAINTENANCE
Maintaining the forecast…
ActualizingData AuditingReporting Frequency
Actualizing & Data Auditing
- Mark wins and losses in the status- Update the booking date to the actual date you received the contract- Update the anticipated fee to the actual final negotiated contract amount (or
current estimate)- Change wins to 100% probability if using a weighted or discounted fee
- Update future dates and estimates
- Remove/add opportunities
- Update your % chance of winning
Report frequency
Jan(Acutal) Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Forecast $29,600 $34,600 $44,800 $89,970 $94,970 $137,419 $145,119 $338,879 $339,304 $355,954 $363,754 $418,354Goal $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $250,000 $300,000 $350,000 $375,000 $400,000
Dec Forecast, $418,354
Dec Goal, $400,000
$0$50,000
$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000
2020 Forecast vs Goal
• Monthly updates, quarterly updates
• Remember updates take time so work backwards to meet reporting deadlines.
• When using CRM systems remember to get updates and run audits before running reports
• When using visuals, update the charts to reflect actual vs forecast (instructions included in the template)
RESULTSHOW TO USE YOUR FORECAST
+ BONUS USES
Reading the tea leaves…
Must win projects.
Where is the work coming from?
Better GNG Decisions.
Is there enough work?
Extras There is a lot more you can do with your forecast
Bonus forecasting…. (included in the template)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Grand Total
Land Development $29,600 $0 $10,200 $41,920 $5,000 $36,599 $7,700 $181,260 $425 $16,650 $7,800 $54,600 $391,754
Urban Deign & Planning $5,000 $12,500 $17,500
Environmental $0 $3,150 $3,150
Transportation $3,250 $2,700 $5,950
Grand Total $29,600 $5,000 $10,200 $45,170 $5,000 $42,449 $7,700 $193,760 $425 $16,650 $7,800 $54,600 $418,354
Forecast by Market Area, Business Unit, and more….
Top Pursuits, Top Clients, and more…. Top Projects Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Grand Total
1 Right-of-Way Improvement for Sunset Strip $153,000 $153,000
2 Planning /Civil Eng for the Housing Dept. $36,000 $36,000
3 Sapphire - Change Order #1 - Const. Svcs $35,000 $35,000
4 Dixie Hghwy Signalization Design (WA) $22,500 $22,500
5 CVS Flagler & 22 Ave $20,000 $20,000
6 2 Fire Stations (survey) $17,600 $17,600
7 Wayside Park (survey) $16,650 $16,650
8 Cove Center Project $16,500 $16,500
9 Chapel Trail Elementary School $12,500 $12,500
10 Glades Plaza (survey) $10,200 $10,200
Grand Total $20,000 $10,200 $34,100 $35,000 $188,000 $16,650 $36,000 $339,950
Deltek Vantagepoint – Resource Planning
REMOVING BARRIERS START FORECASTING TODAY!
No Excuses!How to overcome some common barriers to forecasting….- No Time
- No system- No buy in- Don’t know how- Lack of accurate data- Poor sales estimates- Doubt/unfamiliar
with forecasting
Top reasons firm’s say
they do NOT forecast…
NO TIME
NO (CRM )SYSTEM
LACK OF BUY-IN
DON’T KNOW HOW
QUESTIONSAND
ANSWERS
Get Started Kit
Contact UsLindsay Diven, CPSMSenior CRM ConsultantFull Sail [email protected], 352.339.3628www.fullsailpartners.comwww.marketerstakeflight.com@LindsayDiven – twitterhttps://www.linkedin.com/in/lindsaydiven-deltekvisioncrm/
Stacey Ho, MBA, CPSMMarketing Data AnalystWSP, [email protected], 503.417.9360www.wsp.com@scatpdx – twitterhttps://www.linkedin.com/in/staceyhocpsm/
https://www.marketerstakeflight.com/forecasting-presentation-starter-kit/
• Excel template with instructions
• Forecasting Get Started Tips
• Survey Results