Sales Leadership with Jim Pancero
Sales Leadership with Jim Pancero
Using “100% Forecasts” to help reps think and plan more moves ahead
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Have you noticed most sales reps today do not think or plan enough moves ahead? Most don't even know until the Fall what they still need to do to achieve their annual quota.
There's a great exercise you can conduct throughout the year called the “100% Forecast” that can help reps better understand what they still need to do to have a successful selling year.
Each month reps prepare a forecast listing all the accounts they need to sell to achieve 100% of their annual quota, even if several line items only say “Prospect” with an average expected amount to be sold.
The goal is to provide an earlier awareness of what reps still need to sell to achieve 100% of their annual quota. Then each month they update their forecast by listing their year-to-date sales plus additional forecasted accounts so it adds up to 100% of their quota.
Today’s video shares this proven idea using 100% Forecasts to help you and your sales team better understand what still needs to be done this year so they can achieve their numbers and sell even more!
A challenge in selling today is most sales reps are not thinking or planning enough moves ahead and especially as they look at their full year of assigned quota, don't have a perspective on what it's going to take to make their numbers until usually in the fall. There's a great exercise you can do throughout the year to help your sales reps understand the perspective of what they still need to do to have a successful selling year. And the idea is, it's called a 100% forecast. And the idea is each month you have your sales rep prepare a complete forecast of saying, "This is where they're going to make their numbers." Let's assume a sales rep has a quote of a million dollars. The idea is they have to list all of the accounts necessary to add up to a million dollars. Even if those know several of the line items are listed as prospect with an average amount assumed to sell. The idea is to give the sales a perspective on everything they need to do if they're going to make their million-doll quota for the year. And then each month, you take their current number and then you still have them complete the 100% forecast of what it's going to take to make their full quota. It's a great exercise of helping the sales rep, especially in the first quarter of the year, understand the significant efforts they need to do if they're going to make their numbers. Think this would work for your team?