Forecast

Use the forecast tool (BETA)

Last updated: October 13, 2020

In Beta

Applies to:

Sales Hub  Professional, Enterprise

As a sales manager, you can use the sales forecast tool to keep track of your team's progress towards their goals. The forecast tool groups deals into forecast categories based on their likelihood to close, instead of their deal stage. This allows you and your team to adjust your forecast based on your knowledge of the deals, without losing track of where you are in your sales process.

To use the forecast tool, you’ll first need to set up forecast categories for each of your sales pipelines, then set revenue goals for your team members. Once set up, you can view revenue reporting for users in your account who have assigned Sales Hub Professional or Enterprise paid seats.

Set up the forecast categories

Forecast categories allow your users to group your deals into categories that represent a deal's likelihood to close. If you're a sales manager, you can group deal stages into forecast categories for your entire team in your account settings. Sales reps can also manually update the forecast category for an individual deal from the deal record. To set up your account's forecast categories:

  • In your HubSpot account, click the settings icon settings in the main navigation bar.
  • In the left sidebar menu, navigate to CRM > Forecast.
  • Click the Select a pipeline to set forecast categories dropdown menu and select a pipeline to modify.

select-a-forecast-pipeline-to-modify

  • Use the category dropdown menus to organize your deal stages into one of four forecast categories. Select/clear the checkboxes next to the deal stages to include. 
    • Pipeline: deals that are in the pipeline for the current time period, but not included in the forecast.
    • Best case: deals that will close in the best case scenario, but are even less certain than most likely deals.
    • Commit: deals that have a high likelihood of closing and have been committed to the forecast.
    • Closed: deals that have closed within the forecasted time period. 

update-forecast-categories

  • You can edit your forecast category labels in your property settings by editing the Forecast category deal property. This will update the category label in the forecast tool and in your forecast category settings. Learn how to edit a property
  • To automatically update the forecast categories when a deal moves to a different deal stage, click to toggle the Automate forecast categories switch on. With this setting turned on, a workflow will be created in your workflows tool
  • To apply your forecast categories to your existing deals, click to toggle the Apply to existing deals switch on.
  • Click Save.

Moving forward, your deals will be categorized into one of the forecast categories based on their deal stage. As a sales rep works on a deal, they might re-evaluate the forecast category assigned to the deal and decide that another category better represents the deal's likelihood to close. The sales rep can manually update the forecast category for an individual deal from the deal record:

  • In your HubSpot account, navigate to Sales > Deals.
  • Click the name of a deal. 
  • In the About section in the left sidebar, click View all properties
  • Search or browse for the Forecast category property, then click the dropdown menu to select a different category
  • In the bottom left, click Save.

Set revenue goals for your sales team

Please note: you must be a Super Admin in order to create, edit, and delete goals in your account.

Once you customize your forecast categories, you need to assign revenue goals to your team.

  • In your HubSpot account, navigate to Sales > Forecast.
  • In the upper right, click the Actions dropdown menu and select Edit goals.

edit-goals-from-forecast-tool

 

Use the forecast tool

Once you've set up forecast categories and assigned revenue goals, you can start to use the forecast tool to track your team's progress. You can view how much revenue each team member has closed relative to their revenue goal, and which deals are expected to close in the selected time frame. This is helpful to use during one-to-ones with your reps and identify where they need to focus their efforts to make their monthly or quarterly goals.

  • In your HubSpot account, navigate to Sales > Forecast.
  • Use the dropdown menus at the top to filter by pipeline, team, or close date
  • View your users with assigned Sales Hub Professional or Enterprise seats. Next to their name, view their goal attainment, or their closed revenue relative their goal. You can also view the forecasted deal amount in each forecast category. 
  • To drill down into a specific user's forecast, click the user's name.

select-team-to-view-forecast

  • Here, you can review the deals assigned to the user. You can assess where each deal is in the pipeline and identify which deals need more attention from your sales rep to close.
    • Use the dropdown menus at the top to filter the deals by pipeline, close date, or forecast category.  
    • To open the deal record, click the deal name.
    • To edit the columns that appear, click Edit columns in the upper right. Select/clear the checkboxes next to the properties to display, then click Save
    • To enter next steps the user should take to move the deal to the next stage, enter notes in the Next step field. enter-notes-for-deal
    • Click Save.
  • To navigate back to your forecast, click Back to Forecast in the top left.

For additional sales analytics reporting, you can use the reports in your sales analytics tools. To access the sales analytics reports, in the top right click the Actions dropdown menu then select Go to Sales Analytics