Pipeline

One of the most important functions a company requires of its business development organization is the pipeline forecast. Accurately forecasting sales is the challenge of most sales executives. Everyone understands that effective management requires accurate information, but many business development organizations find current processes not as accurate as possible. Sales forecasting seems to be more alchemy than science.

Inaccurate forecasts are unnecessary and in many organizations that can be because of a failure to incorporate the customer’s point of view. If an organization can develop sales strategies based on buyer behavior, creating a forecasting model of exceptional accuracy is relatively simple.

We base the WinFedBiz forecasting model on “customer-centricity” in both focus and execution. The actions taken by the buyer drive movement through the pipeline, moving closer to a buying decision, and change dramatically as they move from step to step through the decision process.

The steps the WinFedBiz forecasting model tracks are:

• Need Recognition - focuses on defining a problem or an opportunity in terms of what a successful outcome or solution will look like.
• Option Evaluation - focuses on differentiating between the solutions suppliers provide to the buyer, where the buyer examines the capabilities and offerings of each potential supplier.
• Issue Resolution–focuses on evaluating the consequences of following through on a tentative decision.
• Value Proposition–focuses on the value of the solution, taking into consideration costs and productivity gains vis-à-vis the competition.