It’s the constant endeavor of The Global Associates Lead Generation Companies to create quality leads and help their clients boost their businesses. Turning these fresh leads into attractive deals through lead qualification and management processes is the final objective of lead generation companies. Top managements of some sales organizations often give an impression that they are only interested in closing deals; it seems they are not taking other stages of the sales process seriously enough. By doing this, they tend to do injustice to the entire lead generation effort by making inaccurate or faulty forecasts about their sales cycles.
Complexities of forecasting:
Few lead generation companies are able to manage accurate sales forecasting despite the presence of so many experts. Perhaps the main reason for this inaccuracy is that managements have the peculiar habit of underestimating the sales cycle length- the total duration of time from lead generation to the closing of the deal. They, therefore, set unrealistic targets for their employees based on this forecasting, making targets seem impossible to achieve and putting added pressure on the employees. They make a very fundamental mistake of pooling the cold call leads, in-bound leads and referrals together when forecasting the sales cycle time. Now, most organizations have the maximum number of cold call leads. Cold call leads require a greater amount of time than other types of leads in reaching the closing stage; so, the average is never going to be accurate.
Need of a more realistic forecasting system:
Having an accurate and realistic forecasting system is necessary to make the lead generation programs more successful. This can be achieved by making separate forecasts for the cold call leads to make the sales projections more accurate. A system for future forecasting can be developed by analyzing the previous data thoroughly. You can keep improving the system with the availability of more data in future.
Developing a system based on previous data and experiences can help lead generation companies run their operations more effectively. This system will enable the organizations come up with accurate projections and set more realistic goals for their employees.