{"id":122456,"date":"2023-02-24T10:33:42","date_gmt":"2023-02-24T10:33:42","guid":{"rendered":"https:\/\/www.sendinblue.com\/?p=122456"},"modified":"2023-07-20T17:42:01","modified_gmt":"2023-07-20T15:42:01","slug":"sales-forecasting-tool","status":"publish","type":"post","link":"https:\/\/www.sendinblue.com\/blog\/sales-forecasting-tool\/","title":{"rendered":"Top 7 Sales Forecasting Tools for SMBs in 2023"},"content":{"rendered":"\n

An <\/strong>accurate sales forecast<\/strong> helps you plan more efficiently and saves you a lot of money. Instead of shooting in the dark, you can make informed <\/strong>business decisions<\/strong> about hiring, adjusting your sales strategy, or planning the next quarter.<\/strong><\/p>\n\n\n\n

On the other hand, inaccurate forecasts have serious consequences. <\/p>\n\n\n\n

Underestimating future revenue can mean missed opportunities and lower profits. And overestimating potential outcomes results in demotivation, frustration, and burnout as your sales team struggles to meet unrealistic targets. <\/p>\n\n\n\n

That\u2019s why it\u2019s critical to choose a sales forecasting tool carefully.<\/p>\n\n\n\n

A good sales forecasting tool is like a crystal ball for your business \u2014 only, with correct predictions<\/em>. It estimates how much money you’re going to make, points out potential blockers, and saves you headaches down the line. <\/p>\n\n\n\n

In this guide, we\u2019re featuring sales leaders\u2019 favorite tools for sales forecasting that deliver reliable predictions. Let\u2019s dive in.<\/p>\n\n\n\n

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How Sales Forecasting Works<\/h2>\n

Sales forecasting is the process of predicting future sales revenue based on historical data and current trends. It helps businesses plan their resources, marketing strategies, and budget more effectively.<\/p>\n<\/div>\n\n\n\n

How Sales Forecasting Tools Help Business<\/h2>\n\n\n\n

You can do sales forecasting in Excel<\/a> manually. Why invest in technology? <\/em><\/p>\n\n\n\n

There are many advantages to using sales forecasting tools. <\/p>\n\n\n\n

1. Accuracy<\/h3>\n\n\n\n

For one thing, creating an accurate sales forecast is a science and not all salespeople nail it. It involves a deep understanding of sales data, market trends, and customer behavior.<\/p>\n\n\n\n

2. Time saving<\/h3>\n\n\n\n

Manual sales forecasting is a time-consuming process. It takes hours of work every week to collect and analyze the sales data needed to make informed predictions. Fore the forecast to be of any use, it needs to be constantly updated.<\/p>\n\n\n\n

This can be a drain on sales teams, taking away valuable time that could be spent on actual sales.<\/p>\n\n\n\n

3. Error-free<\/h3>\n\n\n\n

Perhaps most importantly, manual sales forecasting is simply not as accurate as machine-based forecasting. Sales forecasting platforms use sophisticated algorithms that update in real time and are not prone to mistakes like humans. <\/p>\n\n\n\n

So why do you need a sales forecasting tool?<\/h3>\n\n\n\n

In short, sales forecasting software collects and analyzes historical sales data, market trends, and other relevant information to identify patterns and make predictions about future sales. <\/p>\n\n\n\n

It not only saves you time and resources but also improves the accuracy of your sales forecasts.<\/p>\n\n\n\n

Sales Forecasting Methods Offered by Software<\/h2>\n\n\n\n

Different tools employ different forecasting methods. The most popular are:<\/p>\n\n\n\n