Is emotional bias causing sales forecasting problems?

Is emotional bias causing sales forecasting problems?

We all get a natural high when we come out of a sales presentation, especially when we feel like we nailed it. As a sales rep or sales manager, I am sure you can relate; you get out of the presentation feeling like they loved it, and they are 100% sold. You can’t stop thinking that it is a done deal.

But if you take a step back, are your emotions driving forecasts rather than logic? When you get back to the office, take some time to review how the presentation went. Reflect on the conversation, the engagement, the quality of the information that you obtained from your prospect. Get a clear perspective on how the presentation went without any emotion.

It can be easy to get caught up in the excitement of an excellent presentation, but you need to ask yourself three questions.

Why your solution?

Their point of pain is your reason for being there is why they need your solution. You should have a full understanding of the prospect’s challenges. Your presentation should be tailored to solve that problem or overcome that challenge.

If you can’t explain the problem that they are having and how you can solve it, can you say the presentation went well?

When are they looking to buy?

Today? Tomorrow? Next month? If you don’t know when the deal is likely to close, then you have lost control of the opportunity. When you are in your presentation, finish by setting out a timeline and expectations. Even though this date might move, it sets the expectation that there will be a deal. It builds your credibility. At the very least, do not leave that presentation without a follow-up meeting in the calendar. You know that you have crushed your presentation when you can walk away saying “They’re committed to signing the contract on or before X date.”

Who is putting pen to paper?

We always emphasise knowing who is involved in the decision-making process, who owns the budget and who signs off on the deal. Speaking to the right people will help you forecast accurately, speed up your sales cycle, and it will help you close more deals. If you leave a decision-maker out of the loop, then you’re relying on someone within their organisation to sell your solution for you. When you have the signatory at the presentation, you can commit them to a signing date.

When you look back on each presentation, you can justify your forecast. You will have a more accurate understanding of likely outcomes. By reviewing each presentation, you will develop your skills, and you will learn from your mistakes and be a better salesperson.

We understand the demand for quality leads and the need for your team to meet those demands. We are here to help and add value by finding tangible, highly qualified leads where we have secured a date and a time for an appointment. These individuals are in your target audience, at the right decision-making level and have an interest in your solution. Taking away this pressure from your Sales team allows them to focus their time on closing deals and generating revenue.

If you are considering outsourcing your appointment setting, contact us by email or phone (+353) 00353 87 3932630. Follow us on LinkedIn for all of our latest updates.