Sales forecasting is captured in two data points: win likelihood and estimated close date. When you create a new deal, you can set both.

You can also add this data after a deal has been created. You can do this directly in the deal card (as shown below), or by editing the deal details.

These estimates can be updated at any time, based on new activity and information as the deal progresses through the sales pipeline.

Win likelihood can also be predetermined for each stage in the sales pipeline and apply to all deals in your Sell account. In other words, individual team members wouldn’t need to enter the win likelihood manually.

Setting the win likelihood for each stage in the sales pipeline can be done by a user with admin rights.

To set win likelihood for your pipeline stages

1. ClickSettings(), then selectCustomize > Sales Pipelines.
2. Click a pipeline stage. Enter a value for the win likelihood percentage.

   

3. ClickSave.

Manually setting the win likelihood on the deal card overrides this global setting.

The sales forecast in a given timeframe is calculated by taking the total deal value and multiplying it by the win likelihood percentage set for each deal. As an example, if a deal value is set at $400 with a 50% win likelihood, the result would be a forecast of $200 for that deal. The estimated close date determines if a deal is included in the sales forecast for a given timeframe.

As a further example, let’s look at a business that has a total pipeline worth of $200,000 at the beginning of the month. Every deal is currently at the Qualified stage and is expected to close at the end of the month. Based on previous experience, the business predicts that only 5% of the deals at that stage make it to the Won stage. Therefore, even though the total pipeline shows $200,000, the sales forecast report shows that net sales will be $10,000 (5% of the total), which is most likely a more accurate prediction. As a deal progresses, the sales forecast increases due to the increased likelihood of it being won.

Using sales forecasting you can develop and then fine tune a more accurate model for deal closure in your sales pipeline.

As you collect sales forecasting data on your deals, you can then analyze it using the Forecast dashboard and the reportsForecasted Salesreport andForecasted Sales by Sourcereport.

The Forecast dashboard provides you with a quick glimpse into how your forecasting compares to your sales goals for the current month. From the dashboard, you can access more forecast details and modify the time period and apply filters to select specific teams or team members.

The Forecasted Sales provides a comparison of your sales forecast to your actual sales within a given time period (seeForecasted Sales report). The Forecasted Sales by Source report shows you the expected and actual sales grouped by the deal source (seeForecasted Sales by Source report).