From the course: CRM Basics: Unlock Business Growth through Relationships
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Perform accurate forecasting - HubSpot Tutorial
From the course: CRM Basics: Unlock Business Growth through Relationships
Perform accurate forecasting
- Forecasting an accurate sales pipeline and revenue generation means you can grow strategically and with purpose. Accurate forecasting leads to accurate financial planning and budgeting for your business. Here's how to set up your CRM to empower you and your sales team to create clear-cut forecasting models. Since sales forecasting is the process of predicting future sales revenue based on historical data and current trends, start with the right properties. Your data set will need to include record owners, lifecycle stages, time to close reporting, and revenue. To start on your forecasting, gather and analyze your current and historical sales data in your CRM system. By examining this data, you can identify patterns and trends in your sales history, such as seasonal trends or changes in customer behavior. Once you've analyzed your data, the next step is to make educated predictions about future sales. This involves taking into account market conditions, changes in customer behavior…
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