Build your sales forecast for your marketing plan

If marketing wants to be seen as an investment, then you have to act like an investment manager who provides a return on the investment
We look at four models for building a forecast
1. In-market consumption data
2. Sales funnel data
3. Building blocks gains and losses approach
4. Comparable brand
First, se the in-market consumption numbers to build revenue target that looks at penetration and frequency.
Second, the sales funnel will use awareness, purchase, repeat, and loyalty scores to build the revenue.
Third, we can use a building blocks approach that combines the gains and losses against last year's sales number to create the new revenue target for the next year.
Finally, when you have less information available to you, use a comparison brand. Then look at the reasons it will be bigger and the reasons it will be smaller to help your estimate the revenue target.
The best behavior is to use a combination of each of these models, and work closely with your sales team, supply chain and demand planners.
A marketing plan should include a profit statement, marketing budget, and goals scorecard. Morever, I also recommend using a monthly forecasting meeting and monthly report to track the performance against the assumptions.
To read our post on the marketing plan:
beloved-brands...
To read our post on the monthly report:
beloved-brands...
If you are interested in our templates, we have all the PowerPoint templates that a marketer needs.
beloved-brands...
#marketing #brandmanagement #brandmanager #forecast #productmanagement #productmanager #marketers #brandplan #marketanalysis #brandstrategist #brandstrategy #marketingmanagement #marketingmanager