Starting next Thursday, we will spend one day a week talking about "forecasting the future". I am calling the series "Forecast Forensics".
Over the next several weeks, I'll explain what "Forecast Forensics" are all about. Many of my clients already enjoy a version of Forecast Forensics as part of their Catalog PhD project or Multichannel Forensics project.
In this case, the entire project is designed to let the CEO, CFO, EVP, or VP of Marketing predict the future. We analyze a series of offline purchases, online purchases, mobile purchases, and purchases attributed to social media. The data is structured in a manner that allows the business leader to understand where the business is headed, over the next five years (click the image below to make it more readable).
The spreadsheet application allows you to answer a myriad of questions:
- What will my sales look like in five years?
- Will emerging channels (mobile) cause the cannibalization of existing channels (e-commerce)?
- What impact will search have on my business over the next several years?
- What happens when I double my e-mail contact frequency?
- What happens when I eliminate my e-mail marketing program?
- Does social media truly contribute to the bottom line?
- How will my customer base evolve and change over time?
- How many new customers do I need in order to allow my business to grow?
- What has to happen to my retention rate in order to get my business into high-growth mode?
- What happens to my business if the economy plunges by 5% this year?
- What is the growth potential of my business, given that I'm thinking of selling my company?
- First three clients to sign-up: $3,200 for existing clients, $3,900 for new clients.
- Prices are likely to increase once three clients sign up.