Revenue Inputs:
Average Order Value: Average order value including shipping costs.
Shipping Costs: Cost to ship orders.
Website Conversions: Based on Marketing Budget & Cost Per Lead
Step 1: Marketing Budget
For this example, our marketing budget started at $1,500 and grew by 20% each month.
Enter the starting budget for marketing. In the next month enter the following formula:
fx = Custom.MarketingBudget[-1]*(1.20)
Step 2: Cost Per Click
On average, how much will each click cost? For this example, we estimated that each click will cost $5.00
Step 3: Website Visitors
To find your Website Visitors you will divide your Marketing Budget by your Cost Per Lead.
fx = Custom.MarketingBudget/Custom.CostPerClick
Step 4: Customer Conversions
Enter the estimated conversion rate for Website Visitors to Customers.
Step 5: Find the total number of Customers.
To find the total number of customers use the following formula:
fx = Custom.WebsiteVisitors*Custom.CustomerConversion
Forecasting Revenue
Now that we have our revenue inputs created we can head over to the Revenue Section in Finmark to forecast our revenue.
Step 1: Click + Add > New Product
Step 2: Fill in your Product Details and Save.
Step 3: Click +Add > Revenue Stream
Step 4: Enter the Revenue Stream Name and Select One-Time Purchases
Step 5: Set the Forecast Method as Custom Formula, enter the Start Date, and Enter the Custom Formula from your Website Conversions.
