28 December 2006

You want to forecast better - look at what you lost!

It sounds contradictory but one of the best sources of sales information for marketing and sales managers in evaluating sales performance is lost sales. Many companies view lost sales as simply the headline value of the order, but in many forms of capital sales the lost sale implies not only the failure to win the revenues associated with the deal but also all the recurring revenues which would flow from that order.

The key to successful sales forecasting is understanding what is driving the sales numbers and what needs to be done differently to get them where they need to be. Lost sales can provide a significant flow of information which can help you understand how the market values your offer.

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