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For example, a start-up might use a sales forecast to determine whether they'll reach end-of-quarter revenue goals or see if they need to hire more sales reps. The challenge is, sales forecasts are only as useful as they are accurate�which is why so many teams use a sales forecast template that standardizes the process and makes it easier to find important sales insights.
Sales forecasting provides a little window into your business's future. You can see whether you'll reach your quarterly goal and track sales rep and overall sales team performance. That data makes it easier to see whether you're on track or your strategy needs adjusting.
Imagine you're the sales manager of a SaaS company and want to know whether you will hit your revenue goals or if you need to hire more sales reps. That means it's time to scale up your lead generation efforts and maybe hire more SDRs.
Sales forecasting also provides clear insights into revenue, costs, and where you should invest more money. Lastly, it is a powerful motivation tool for your sales team � especially if you have a longer sales cycle. It allows you to paint a clear picture showing how the work your team is doing today will pay off. The truth is sales forecasting can be quite simple � if you follow a step-by-step process and use a sales forecasting template.
We broke the process down into 4 easy-to-follow steps you can use to build a great forecast for your business. If you need a quick and fast solution, this will get the process going. The simplest way to get a rough revenue forecast is to calculate revenue if your sales continue at the exact same rate going forward.
To get this number, divide your current year-to-date sales by the number of sales periods to date. Then, multiply that monthly number by the remaining sales periods in the year for your annual projection. Here's the sales run rate formula to help forecast your projected sales:. This is one of the easiest ways to predict future growth, but it's not super accurate. This formula doesn't consider seasonality, competition, market changes, or business growth or decline. Look at the previous months' sales, paying special attention to spikes and dips.
For example, if your business sells clothing to consumers, you likely see a huge spike around Black Friday and Cyber Monday, and a dip in the summer. If seasonality or trends impact your sales, calculate the percent increase from your average month during periods of spike or dip.
Just skip this step. Changes in overall market growth rate, consumer behavior, and emerging trends can have a huge impact on sales. Double that is really aggressive. Consider market trends and your competitors, then add these calculations to your sales forecast.
This will provide a more accurate picture of what the future holds. The outside world isn't the only factor that impacts growth. Internal changes can also affect sales forecasting.
Are you launching new products? How have product launches performed in the past? Are you marketing to new customer segments? How many new customers do you expect these new markets to add to your customer file?
All of these changes can impact future revenue, making them important considerations for your sales plan. To consider more advanced trends and metrics or if you don't have much historical data , there are more advanced sales forecasting methods. The right sales forecasting template provides access to the sales metrics and KPIs that matter most to your sales team.
The challenge is not all businesses are the same. Retail businesses may need to track hundreds of products and dozens of different suppliers, while a SaaS company might only offer three plans but have a really long sales cycle.
Finding the right template for your business needs is crucial. Otherwise, you'll be left floundering in a sea of useless data.
Different sales goals and revenue targets rely on different data. For example, if you want to predict sales over the next two years, you'll want a sales forecast template that covers a longer time period.
In that case, they'll need a different template than a small business looking to increase sales in a specific customer segment. Next, set realistic revenue targets based on overall market growth. As you review the templates below, look for one that fits your business goals and revenue targets.
Your business type is one of the most important factors to consider when selecting the right sales forecasting template. The size, industry, age, and rate of growth can all impact which template will work for you. Also, consider how often your sales fluctuate. For example, an eCommerce store may have ten to fifteen fluctuations a year, so they need a template that can handle their data. On the other hand, a small fly fishing business may have just two fluctuations�on and off-season.
As you look at the sales forecasting templates below, look for one that fits your business model and can handle your sales fluctuations.
You'll need to adjust your sales forecasting method based on your historical data, the key metrics you need to track, and your confidence in the data. Goals and KPIs also impact the forecasting methods you use. As you look at the sales forecasting templates in the next section, make sure they fit the analysis method you use. We've already talked about how historical data can impact your sales forecasting, but it's also an important factor in choosing the right sales forecasting template.
Before choosing a template, take a look at your past metrics and historical data. How much data do you have? If you have several years worth of data, consider a template with a longer forecasting model. What data do you want to include based on your business type and forecasting methods? Make sure the template you choose includes the fields important to your business.
Finally, spend a few hours researching current market conditions and consider how they may impact your sales forecast. For example, if your industry is growing fast, you might select a forecasting template that updates in near real-time. On the other hand, if a large competitor is acquiring another company, that might make growth more challenging, and you might need to lower your growth expectations.
As you look at the templates below, look for a template that works well with current market conditions. We started this with a list of 8 different templates. The reality is, not every sales team needs a super complex sales forecasting model. Some, like a small businesses, just want to track a few metrics. Other companies, like eCommerce, need to track multiple products, which can be impossible with a simple template.
To make your life easier, we've sorted through all the free sales forecast templates we could find in Excel format and created one of our own. Choose the Excel or Google doc template that works best for your company, sales team, and industry. The variance will calculate via built-in formulas, so you can measure the accuracy of new monthly sales, product reorders, and combined totals.
This daily sales forecast template enables you to estimate sales projections for a daily or weekly time frame. This customizable sales and budget forecast template is used to project monthly sales and planned expenses for a company, including advertising, insurance, payroll, and overhead.
Add the estimated number of customers, average sale per customer, and average cost per sale. Then, add budgets for operating, payroll, and office expenses.
This sales and profit forecasting template provides the projected sales, operating income, and market share for a product over a five-year span. The results provide the forecasted sales and profit based on target operating income and target market share. This sales forecast presentation template provides visually appealing graphics that you can customize according to your needs.
Add projected sales and growth percentages for any time period. Then, add charts and historical data to display trends. This presentation template also includes a slide that allows you to add key takeaways or other pertinent information to support your forecasts. This sales forecasting template is based on the deal stage, size, and probability. Enter the company name and contact information related to each deal, select the deal stage, and add the deal size.
Once you enter the stage and size, the probability and weighted forecast will auto-calculate with built-in formulas. This template also has space to assign a sales representative, select anticipated close dates, and detail necessary further actions.
This sales forecast template provides a weighted forecast for opportunities based on the probability of the sale. Add the opportunity name, sales phase, sales agent, region, and sales category. Then, add the forecasted amount and probability for each opportunity.
Based on the values you enter, the weighted forecast will auto-calculate with pre-built formulas and display a visual of sales projections on the Forecast Totals and Forecast Graph tabs. This lead-driven forecasting template enables you to project the value of each lead on a monthly basis, based on historical data e.
When you customize the Deal Stage key, the deal stages use formulas to automatically update accordingly. Add contact information, key dates, and the deal value for each lead. Then, the weighted forecast value will auto-calculate according to the closure probability you assign to each stage in the key.
This sales forecast template is designed to project future revenue for an e-commerce business over a five-year time period. Enter the marketing budget at the top of the template. Then, enter the number of organic visits, conversion rate, average order value, and other revenue. Once you enter those values, the paid and organic visits, sales, and total revenue will auto-calculate with built-in formulas.
This customizable retail sales forecasting template projects the total annual revenue for a five-year time span. Enter the estimated daily footfall, percentage of customers who enter the store and make a purchase, average sale value, and other sources of revenue. Once you enter those values, the total number of customers, sales, and revenue will calculate with pre-built formulas. This sales forecasting template projects the annual revenue of a hotel over a five-year time span.
Enter the total number of rooms and the number of operating days in a given year, the occupancy rate and average daily room rate, and the food and beverage percentage, if applicable. The projected room occupancy and total revenue will calculate automatically with built-in formulas.
At the top, enter the number of rooms available, the number of days open by season, average room rates, and other revenue. Occupancy rates, available nights, and total projected revenue will calculate with pre-built formulas. Performing a sales forecast , or estimating future sales, is a valuable tool you can use to predict the short and long-term performance of your company.
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WebDownload Free Sales Forecast Templates Budget Sales Forecast Template PDF Budget Sales Forecast Template XLS Month Sales Forecast PDF advertisement . WebAug 30, �� Download a free 3-year sales forecasting spreadsheet for Excel� - Updated 8/30/ A sales forecast is an essential part of a business plan. It is also .