How to Setup Sales Forecasting in HubSpot

HubSpot forecasting helps sales teams predict future revenue based on pipeline data. While HubSpot offers basic forecasting tools, many RevOps professionals need more sophisticated options to make data-driven decisions.

Limitations of using HubSpot forecasting

HubSpot’s native forecasting functionality falls short for growing organizations that need comprehensive forecasting capabilities. Let’s look at why many RevOps teams are seeking alternatives.

• Basic forecasting parameters only. HubSpot’s forecasting is tied exclusively to three data points: Deal Amount, Deal Stage, and Close Date. This creates a rigid framework that doesn’t account for the nuances many sales organizations need to track.
• Limited forecast model options. Modern sales teams use various forecasting models to gain accurate predictions. Want to implement weighted pipeline forecasting or quota coverage models? HubSpot offers minimal customization options, forcing you into their predefined structure.
• No external data integration. Sales forecasting doesn’t happen in isolation. Market trends, historical performance data, and even marketing metrics should inform your predictions. HubSpot’s forecasting doesn’t easily blend external data from other business systems, creating forecasting silos.

Think your sales process is unique? It probably is. But HubSpot’s one-size-fits-all approach means you can’t easily:

• Run scenario planning to model different outcomes
• Track forecast changes over time with version control
• Create automated alerts for forecast slippage
• Build custom calculations beyond basic revenue projections

For teams running complex sales operations, these limitations create blind spots that can lead to missed targets and poor resource allocation.

How to set up forecasting in HubSpot

Despite its limitations, HubSpot’s native forecasting can be useful for basic projections. Here’s how to set it up:

1. Navigate to Sales → Forecasting in your HubSpot portal
2. Click “Create forecast” button
3. Choose between revenue or deals-based forecasting
4. Select the properties to include (pipeline, reps, etc.)
5. Set your time period (monthly, quarterly, or yearly)
6. Configure forecast categories that align with your sales stages
7. Save your forecast settings

Once configured, you’ll see a basic forecast dashboard that displays projected revenue based on your deal pipeline. HubSpot allows basic filtering by rep, pipeline, or time period.

How modern RevOps teams are using Coefficient for HubSpot forecasting

Smart RevOps leaders aren’t limiting themselves to HubSpot’s basic forecasting. They’re connecting HubSpot data directly to spreadsheets using Coefficient to build powerful, customized forecasting systems.

Why spreadsheets still rule forecasting. Spreadsheets remain the most flexible tool for building tailored forecasting models. They allow for custom calculations, scenario planning, and incorporating data from multiple sources. The problem has always been keeping that data fresh—until now.

Live HubSpot data in your spreadsheets. Coefficient solves the data freshness problem by creating a live connection between HubSpot and your spreadsheets. Here’s how RevOps teams are revolutionizing their forecasting:

1. Custom forecasting models. Build exactly the forecasting model your business needs using Coefficient’s 12-month sales forecast template. Incorporate weighted probabilities, sales velocity, or any custom metrics relevant to your business.
2. Multi-source forecasting. Blend HubSpot deal data with information from other systems—marketing campaigns, customer success metrics, or financial data—for a complete view of future performance.
3. Automated updates. Never manually update a forecast again. Coefficient pulls live HubSpot data into your spreadsheet on a schedule or on-demand, ensuring your forecasts always reflect the latest pipeline changes.

Setting up advanced forecasting with Coefficient is straightforward:

1. Install the Coefficient add-on to your Google Sheet
2. Connect to your HubSpot account
3. Select the deal data you want to import
4. Build your custom forecasting model in the spreadsheet and push it back to HubSpot
5. Set up automatic refresh schedules

The result? A forecasting system that combines the power and flexibility of spreadsheets with the accuracy of real-time HubSpot data.

Enhanced forecasting capabilities. With your HubSpot data flowing into spreadsheets, you can now:

• Apply exponential smoothing and other advanced statistical methods
• Create what-if scenarios to model different business conditions
• Automatically alert teams via Slack when forecast metrics slip
• Track forecast accuracy over time to improve future predictions
• Build custom visualizations that make forecast data actionable

Take your forecasting further

HubSpot’s native forecasting works for basic needs, but growing revenue teams need more. By connecting HubSpot to spreadsheets with Coefficient, you gain the flexibility to build custom forecasting models while maintaining data accuracy through live connections. This approach gives you the best of both worlds: HubSpot’s powerful CRM capabilities and the unlimited forecasting potential of spreadsheets.

Stop rebuilding forecasts manually or settling for HubSpot’s limited options. Get started with Coefficient today and transform how your team forecasts revenue.

FAQs

Does HubSpot do forecasting?

Yes, HubSpot includes basic forecasting functionality in its Sales Hub Professional and Enterprise plans. The native tool allows you to create revenue projections based on your pipeline deals, using deal amount, stage, and close date. However, its capabilities are limited compared to dedicated forecasting solutions or spreadsheet-based systems enhanced with Coefficient.

What is the best tool for forecasting?

The best forecasting tool depends on your specific needs, but most RevOps professionals prefer the flexibility of spreadsheets (Google Sheets or Excel) connected to live CRM data. Coefficient transforms standard spreadsheets into powerful forecasting tools by integrating live HubSpot data, providing the best combination of flexibility and accuracy.

What is the price forecast for HubSpot?

HubSpot’s forecasting features are included in Sales Hub Professional ($500/month for 5 users) and Enterprise ($1,200/month for 10 users) plans. For teams needing more advanced forecasting capabilities, Coefficient offers plans starting at $29/month per user that connect HubSpot data to spreadsheets, creating a more powerful and flexible forecasting solution at a fraction of the cost of enterprise forecasting platforms.