The Bottom Line: Ecommerce Tactics for Profitable Growth Forecasting Series Part 2: How to create and analyse a forecast
In this episode, Cody and Taylor discuss the process of building a forecast for a skincare brand. They start by setting goals and objectives, including the brand's desire to sell and exit within three years. They then dive into the details of the forecast, analyzing key metrics such as top line revenue and profitability as well as identifying opportunities for improvement, such as reducing the cost of delivery and increasing customer acquisition. They also discuss how the forecast ties to in-ad account performance and the importance of performance reporting and execution.
00:00 Introduction and Overview
01:03 Setting Goals and Objectives
04:01 Analyzing the Forecast
05:07 Improving Cost of Delivery
08:50 Opportunities for Growth in Customer Acquisition
10:05 Tying Forecast to In-Ad Account Performance
12:20 Analyzing Average Cost Breakdown
13:51 Translating Forecast to Ad Channel Targets
19:53 Performance Reporting and Execution
Brought to you by: MightyScout: Supercharge your agency with the fastest solution for Instagram & TikTok Influencer Tracking, Analytics & Reporting. Get more valuable work done for your clients without hiring more staff. https://mightyscout.com/ And Social Snowball: Frictionless affiliate programs for your customers & creators. https://socialsnowball.io/ Cody Twitter: https://twitter.com/cody_wittick?s=21... Taylor Twitter: https://twitter.com/taylorlagace?s=21...