Create Forecasts Based on Funnel Data

Learning Goal

Learn how to create forecasts based on funnel data to predict future sales performance.

Who

This lesson is designed for sales professionals who want to improve their sales forecasting skills.

What

You will learn how to create weekly and monthly forecasting templates using funnel data and how to use these templates to predict future sales performance.

Where

This lesson is part of the Build Your Sales – 30 Days to More Deals course.

When

You can start creating forecasts immediately after completing this lesson.

Why it Matters

Forecasting is essential for sales professionals to control their sales performance, communicate effectively with management, and plan resources accordingly.

How

To create a forecast, you need to analyze your funnel data, including the number of leads, qualified prospects, connected customers, and proposals sent.

Guided Exercise

Complete the following exercises to practice creating forecasts:

• Create a weekly forecasting template using your current funnel data.

• Create a monthly forecasting template using your current funnel data.

Independent Exercise

Create a forecast for the next quarter using your monthly forecasting template.

Self-Check

Review your forecast and make sure it is accurate and realistic.

Bibliography (Sources Used)

• HubSpot – Sales Forecasting: https://blog.hubspot.com/sales/sales-forecasting
• Salesforce – Forecasting Best Practices: https://www.salesforce.com/resources/articles/sales-forecasting/

Key Takeaways

• Forecasting = control. If you know what will happen, you can prepare in advance.
• Use historical data. Your own conversion rates are the most accurate.
• Update weekly. Funnel status changes, forecast should change too.
• Be conservative. Better to underestimate than overestimate.

Optional Resources

• HubSpot – Sales Forecasting: https://blog.hubspot.com/sales/sales-forecasting
• Salesforce – Forecasting Best Practices: https://www.salesforce.com/resources/articles/sales-forecasting/

Practice 1 – Weekly forecast (20 min)

• Look at your current funnel status (how many leads, qualified, connected, proposals)
• Use your conversion rates (or averages if you don't have your own yet)
• Calculate expected closes for the next week
• Compare to your target – are you behind or ahead?

Practice 2 – Monthly forecast (15 min)

• Create monthly forecast using the same method
• Write down what you need to change if you're behind target
• Set correction steps (e.g., more lead generation, better conversion)

Key Takeaways

• Forecasting = control. If you know what will happen, you can prepare in advance.
• Use historical data. Your own conversion rates are the most accurate.
• Update weekly. Funnel status changes, forecast should change too.
• Be conservative. Better to underestimate than overestimate.

Read More (Optional)

For more information on sales forecasting, check out these resources:

• HubSpot – Sales Forecasting: https://blog.hubspot.com/sales/sales-forecasting
• Salesforce – Forecasting Best Practices: https://www.salesforce.com/resources/articles/sales-forecasting/