The Problem We Are Solving
In the ever-changing world of media sales, forecasting accuracy is crucial. However, we've observed a persistent gap between pending dollars and related booked revenue. Our data analysis has revealed that pending dollars can be consistently off by as much as 160% compared to what sales teams actually close at the end of each month.
This discrepancy is a consequence of various factors. Sales reps have different ways of approaching their pending dollars: some are constantly overconfident, or projecting higher closing rates; others may procrastinate in entering their pending deals into the system; and still, others might have an inflated expectation from certain accounts.
These factors and others culminate in an inflated pending amount, leading to a substantial divergence between the forecasted and actual revenue. Such inaccuracies can affect the strategic planning and decision-making process at various levels, ultimately impacting our customer’s bottom line. It is this very problem that we aim to help solve.
With over 20 years of experience in creating CRM solutions specifically for the media sales industry, our expertise at ShareBuilders is informed by an extensive understanding of the unique challenges and needs of this sector. Throughout these years, we've engaged in comprehensive competitor analysis, direct interaction with our customers, and meticulous study of sales rep behaviors.
We've observed that the human element can add unpredictability to forecasting. After trawling through vast datasets of pending deals and sales team performances, we've gained a profound understanding of how pending dollars are managed, and more importantly, how they could be estimated better. This insight into the intricacies of the sales process and the industry's unique needs has become the springboard for the development of our groundbreaking feature, Precision Pending.
This is just a preview of the decisions and understanding that led us to develop Precision Pending, a revolutionary feature of ShareBuilder AI. This tool is powered by machine learning, custom data modeling, and our proprietary algorithms. Unlike traditional methods, Precision Pending takes into account diverse factors, such as the sales rep's pending precision, pending trends, and the account's history, among others. By integrating these factors into the pending process, Precision Pending offers a more reliable and accurate view of pending dollars. This AI-driven solution brings more predictability to the process, mitigating the uncertainties associated with human predictions. With Precision Pending, we're taking a significant stride toward empowering our customers with the ability to predict revenue more accurately and consistently.
A Commitment to Continual Improvement
At ShareBuilders, we believe in constantly pushing the boundaries to empower our customers. That's why we're proud to announce that we're releasing Precision Pending to all of our customers at no additional cost. We see this as a collaborative journey where we learn, grow, and innovate together.
Our initial models project that Precision Pending can help reduce uncertainty between 30-50% from raw pending dollars. This is a significant stride towards helping sales teams to more reliably forecast revenue, but we do not intend to stop there.
As we continue to roll out this feature, we'll carefully monitor its performance and listen to our customers' feedback. Our aim is not only to improve Precision Pending but also to ensure that it continually adapts to the changing realities of media sales.
This is a significant milestone in our journey toward helping companies with confident revenue predictions. We believe that through persistent efforts and close collaboration with our customers, we can continually narrow the gap of uncertainty and revolutionize the media sales landscape. We are excited about the road ahead and hope you are too.
Welcome to the future of forecasting with Precision Pending.