Maximizing Use of HubSpot's AI Forecasting Tool | GSI

Forecasting is the gateway to growth. Accurate sales forecasting allows you to anticipate future demand and stay ahead of the competition. It can also help you make more informed decisions for budgeting, staffing requirements, inventory levels, and production schedules.

Although sales forecasting is incredibly useful, it can also be challenging, time-consuming, and costly. Thankfully, the implementation of artificial intelligence (AI) into customer relationship management (CRM) software like HubSpot demystifies the process and makes it more accessible than ever.

Learn more about HubSpot's AI forecasting tool, how it drives business value, and how to get the most out of this innovative technology.

How the HubSpot Forecasting Tool Drives Value for Your Business

Both B2B and B2C businesses can benefit from HubSpot's software solutions like the forecasting tool.

Save Time

HubSpot's software makes implementing sales forecasting into your business quicker and easier than ever. By automating the process of analyzing historical data, teams can slash manual analysis time and focus on strategizing and faster lead response. More time to concentrate on strategic initiatives empowers teams to identify and repeat the specific actions that attract leads and close deals — a winning formula that directly translates into competitive advantage.

Make Data-Driven Decisions

Take control of your sales strategy and eliminate the guesswork by customizing HubSpot's AI forecasting tool to match your business's needs. The tool integrates with sales analytics to provide comprehensive insights about your business's performance. Sales reps and managers have access to useful projections and insights when they need them, empowering more informed decisions backed by data instead of gut feelings.

Score Deals to Grow Revenue

Stop letting high-potential deals slip through the cracks in your pipeline by using deal forecast in HubSpot. The tool goes beyond simple revenue projections, using machine learning to assign scores to your leads based on real-time data and previous user behavior patterns. Your sales reps can see — and nurture — the leads most likely to close for more effective revenue generation.

Strategies for Maximizing HubSpot's AI Tools for Sales Forecasting

You can get the most out of HubSpot's AI forecasting tool using the following strategies.

1. Start With High-Quality Data

AI forecasts are only as good as the data that fuels them. Clean, complete, and consistent data is the foundation of competitive advantage and supports more accurate, reliable forecasts. Consider ensuring data hygiene with strategies like:

• Standardizing data entry: It's best to set required fields or properties that reps must input to support meaningful insights during analysis. When possible, use drop-downs and controlled vocabulary versus free-form text to keep taxonomy consistent.
• Regular audits: Committing to monthly or quarterly data hygiene audits can help you eliminate duplicates, outdated information, and inconsistencies without becoming overwhelmed. Regularly evaluating data quality also empowers faster adjustments if opportunities or challenges arise.
• Enforce prompt updates: Encourage anyone interacting with data in your CRM to make updates as they occur. This practice supports better data quality by preventing stale data that can skew your forecasts.

2. Train Tool Users

Maximize your forecasting with a highly skilled team. Even the most advanced forecasting solutions rely on the knowledge of the people feeding and interpreting data as much as the data itself. Investing in comprehensive user training:

• Helps ensure data hygiene: Arm your team with the understanding of the how and why behind maintaining data quality. They'll be more engaged in and accountable for it, minimizing the potential for inaccuracies and reducing administrative inefficiencies due to data cleanup.
• Increases adoption: Overcome those common objections and resistance to adopting new technology with training. Learning helps boost user confidence and foster adoption, so you can start realizing the benefits sooner.
• Enhances coaching and performance: Empower your sales managers to interpret forecasts and deal scores and transform them into targeted coaching tools for sales reps. This can enhance talent development and optimize sales processes for higher performance.
• Unlocks the tool's full potential: Go beyond surface-level use and give your team the training needed to fully use all the features available. They gain the knowledge to unlock greater potential, maximizing return on investment.

3. Review, Adjust, Repeat

Review, adjust, repeat is more than catchy corporate jargon — it's the process that drives continuous improvement through a powerful feedback loop. Think of it like your North Star for outperforming your competitors:

• Compare forecasts and results: The AI tool learns from your unique historical data. Comparing the forecasts it generates against the actual results your business achieves lets you see where process adjustments may be necessary.
• Refine your approaches: Evaluate your processes to see where potential disconnects may exist. For example, you may need to redefine your deal statuses to better align with your buyers' journeys. In turn, future forecasts become more accurate since they're fueled by data that best reflects your reality.
• Start the process again: Each refinement further improves data quality, leading to more effective goal-setting, better financial planning, and fewer surprises. By extension, you enjoy a more stable cash flow, a stronger competitive position, and better resource allocation.

4. Work With an Expert

Gain an unfair advantage with expert guidance. HubSpot supports CRM service and management providers that offer clients HubSpot products through its Solutions Partner Program. Teaming up with a recognized partner is your shortcut to success since you get:

• Expert setup and configuration: Ensure seamless implementation, integration, and customizations with the help of a skilled expert. HubSpot partners help you build a strong foundation from day one with assistance in setup, configuration, and data migration that upholds quality.
• Strategic guidance for peak performance: Get expert advice on process optimization and comprehensive team training, empowering confident technology use and data interpretation for maximum potential.
• Ongoing support: Increase value with post-implementation guidance, troubleshooting support, and insights on updates and best practices to get and stay a step ahead.

Unlock True Forecasting Potential With GSI's HubSpot Services

At GSI, we have the expertise and proven history to help you get started with HubSpot's platform and optimize it to set you up for success. We provide HubSpot services through our subsidiary, Flawless Inbound, a Diamond HubSpot partner and implementation specialist. With our team of HubSpot specialists, we can make HubSpot work exactly the way you need it to.

We're a licensed reseller, so we can also guide you through the licensing process and negotiate the best pricing with HubSpot. Additionally, Flawless Inbound is a leader in creating integration solutions. We can automate and integrate HubSpot with your business's existing software to streamline your operations.

Learn more and get started with HubSpot's solutions by contacting us today!