Step 1: Create the Custom Variables in the fx variables Section.
Next, you can use the fx Variables section in Finmark to create your Content Growth Engine.
Custom Variables:
Website Visitors: how many website visitors do you get?
Conversion Rate from Website Visitors to Sign-Ups: what is the conversion rate from website visitors to sign-ups?
Number of New Sign Ups
Conversion Rate from Sign Ups to Customers: What is the conversion rate across my sign-ups and how many new customers does that turn into?
New Customers
Website Vistors:
Step 1: Click +Add Custom Variable, enter the name of the variable and select the function.
Step 2: Enter the number of initial website visitors you expect for the first month of your revenue forecast. In the month following, enter the formula below to grow your website visitors by a certain percentage each month.
fx = Custom.WebsiteVisitors[-1]*1.1
Conversion Rate from Website Visitors to Sign Ups
Step 1: Click +Add Custom Variable, enter the name of the variable and select the function.
Step 2: Enter the conversion rate from Website Vistors to Sign Ups and fill right by clicking on the arrow.
New Sign-Ups:
Step 1: Click +Add Custom Variable, enter the name of the variable and select the function.
Step 2: Calculate the number of new sign ups from your website visitors and conversion rate by utilizing the following formula:
Fx = Custom.WebsiteVisitors*Custom.ConversionRateFromWebsiteVisitorsToSignUps
Conversion Rate from Sign-Ups to Customers:
Step 1: Click +Add Custom Variable, enter the name of the variable and select the function.
Step 2: Enter your conversion rate from sign-ups to customers and fill right.
New Customers
Step 1: Click +Add Custom Variable, enter the name of the variable and select the function.
Step 2: By using the number of new sign-ups and the Conversion Rate from Sign Ups to Customers we can find the number of new customers with the following formula:
Custom.NumberOfNewSignUps*Custom.ConversionRateFromSignUpsToCustomers
Step 2: Create a New Revenue Stream (Driver)
Step 1: Click +Add -> Revenue Stream (Driver)
Step 2: Fill in the revenue stream details such as:
Name of Revenue Stream
Type of Revenue Stream (Subscription/One-time purchases)
Products/Pricing Plans (Type of Customer)
Step 3: Set the forecast method from the drop-down as Custom Formula. From here, fill in the remaining necessary details. For the custom formula you will enter the following:
fx = Custom.NewCustomers
