Performance Marketing: Learn how to grow your revenue based on how much money you be spending on marketing, and how this will translate into revenue.
Step 1: Add your Marketing Expenses
Examples of how to create your marketing budget:
Add a specific expense for each individual marketing cost
Budget by channel
Budget based on an overall blended average.
Once decided, go to the Expenses Section of Finmark and add your marketing expense. As shown below:
Step 1: Go to the Expenses Section of Finmark
Step 2: Click +Add Expense
Step 3: Fill in the required details based on the marketing budget you are forecasting.
Great job! Now you’re ready to move on to Part Two.
Part 2: Create your Performance Marketing Revenue Stream
Step 1: Go to the Revenue Section and Add Products/Type of Customer
Step 3: Click +Add then select Add Revenue Stream (Driver)
Step 4: Enter the name of the revenue stream and select the type of customer you are forecasting (for recurring products select subscription customers and for one-time purchases select one-time purchases)
Step 3: Select the type of customers will these leads convert into. You can add multiple pricing plans and distribute the conversion across multiple plans.
Step 3: Fill in the revenue driver details, see below for more details.
Select Marketing-Led Conversions for your forecasting method.
Enter the Acquisition Start/End Date
Select your Marketing Expense from the drop-down
Enter your assumptions for Cost Per Lead/Lead Conversion Percentage: At the bare minimum, define how much it costs you per lead and how many leads you expect to convert.
Enter your assumptions for Conversion Time/% Conversion over Time:
What is the conversion percentage of these leads?
How do they convert?
Do they convert all at once or do they convert over a period of time?