Empower Your Legal Team with B2b Sales Forecasting for Legal

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nice all right hey what's going on everyone uh I'm gonna walk you through the sales forecast and marketing budget template this is really the Holy Grail of all the templates and everything rolls up to this if you don't have a financial plan of how you're going to allocate Capital to higher uh people and um and tools and invest in marketing campaigns and sales campaigns um then you really don't have a road map to get where you're looking to go and so if you download this template this is what you're going to get you can see that this is a it's a Google sheet you'll get a link to copy this sheet and make it your own there are multiple tabs so the first tab is the instructions tab this will walk you through exactly how to use this template then I include a growth plan for benchmarking a marketing and sales budget a marketing funnel a revenue funnel a summary forecast and SAS metrics and then charts that you can use for any presentations that you're putting together and the last tab on here is a it's a bonus it's the go to market checklist that I use in the associated templates that will help you execute on that that checklist so I'll quickly walk through each one of these tabs so you can understand that the content that's inside of them so let's get started with the the growth plan for benchmarking um so in this example here this demonstrates high level goals over a five-year period of what the top line revenue growth rate the desired Revenue growth rate is to be and so I often start here just to get a sense of if we were to double our Revenue this year and then double for the next two years uh or or excuse me uh triple so triple for the next two years then double double so you may be familiar with this triple triple double double have expectation from Venture capitalists for B2B SAS companies I'm the VPS sales and marketing for a B2B SAS company we are venture-backed we've raised tens of millions of dollars in capital and so there is a high expectation of growth and so this is really where I started out and just thinking uh what would it look like now we have a a B2B product LED model and so there's Revenue that comes in from our trials our node touch motion and then there's Revenue that comes in from our sales assisted motion from our sales team so this essentially outlines the mrr the total revenue the breakdown between the different types of mrr expansion contraction and churn the then the the contribution from trials versus sales and so it gives you just a high level picture of the mix and so all you need to do is plug in your actuals from the last 12 months in this First Column it will flow through the model all right next up so now that you have a good sense of where you might be going you've got to put together a marketing and sales budget this up here calculates the estimated percentage that you may need of your last your sort of next 12 month revenue and I have some benchmarks and some sources here based on uh sort of reputable and well well-known authorities in the B2B SAS space and so this this enables you to estimate how much you may need for sales and marketing to go hit your growth calls and then below there's a breakdown of the actual line items for marketing and then down here the actual line items for sales and so there's a combination of head count and tools and agencies and Freelancers and paid campaigns and then you can have your actuals here for the next 12 months which will then inform your forecasts for um for the next 12 months so on Tab 3 you take that and you flow it down through the way I do it is um I have a marketing funnel which then feeds into the revenue funnel which is the uh Revenue funnels split between our product LED motion and our sales assisted motion but this marketing funnel then enables you to calculate where you're going to invest money into the various marketing campaigns and the expected performance of those various channels so I've listed here a few here you can add to this it um it calculates the total uh totals for paid acquisition and then down below you've got totals for non-pay these are organic direct email and other channels and the traffic associated with um with those channels so that ultimately gives you your lead flow and for us the lead flow is is split between trials and um and contact sales forms you also then have sales Source leads so it's easy to insert lines here if you have different lead sources that you want to input so then the marketing funnel brings you to Tab four which is the revenue funnel and the revenue funnel takes the inputs whether it's trials or its leads and then based on your historical performance for uh conversions and average deal sizes you get an uh a new business mrr number and so these would be actuals here that you would input and again that's how you you input assumptions for your forecast same thing goes for lead flow to the sales team you've got your mqls that come through the marketing funnel and then they converted at a certain rate to closed one and then you have average deal sizes down here from the the different lead sources down below is the sales head count and productivity calculation so you're likely going to need to hire a team to go hit your your Revenue Targets on the sales side and so this is a nice way of calculating expected churn and head count over a period of time as well as net new heads and their ramp and so we've got fully ramped account Executives in a four month period And so then you can down below here make assumptions about their quota quota attainment expected mrr achieved and then the salaries and benefits that they will receive from from the business that they close so then lastly There's a summary forecast and SAS metrics this rolls up all of the the tabs that we I just walk through uh for the marketing and the revenue funnel and shows the change in mrr over time by plugging in the new business mrr and then making assumptions based on the different uh expansion contraction and churn rates and so then you can see how the the sales mrr changes over time versus the trials mrr and the combined mrr which then flows down to your monthly p l it's just a high level p l and then ultimately um your sales metrics your SAS metrics are down here at the bottom uh so then the the last tab here is for the chart so you've got your charts here that can flow through into any PowerPoint presentation I just included a few here as an example um and then finally the bonus go to market tab for go to market checklist so uh this is the Holy Grail of templates that I use to flow into informing the use of all the other templates I hope it's helpful uh just click add to cart and then I'll send you a link to a PDF where you have links to all of the templates within uh the bundle if you choose to get that but otherwise just click add to cart I'll send you a link to this Google sheet where you can copy it for your own use case hope that's helpful talk to you soon