Ep. 043 - The Secrets of Volume Forecasting
This podcast unveils the secrets of volume forecasting to determine realistic Sales Targets.
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Are you ready to uncover the secrets of accurate volume forecasting and sales target calculation? Join us on the Business and Management Podcast with your host, Marchell Ludy, as we dive deep into the art of creating volume forecasts.
Imagine you're a skincare marketer about to release a new soap product. How do you determine your sales target? It all comes down to volume forecasting—an essential aspect of financial planning for your business.
A messy forecast can lead to supply issues and excess stockpile, while an accurate forecast ensures stability and success. In this episode, we break down the principles behind volume forecasting using three keywords: Awareness, Trial and Repeat.
Discover how many people are aware of your product, how many are willing to try it, and how many become repeat customers. By understanding these factors, you can accurately calculate your sales volume.
Through a practical case study, we demonstrate the calculation process step by step. From population awareness to trial conversion rates and repeat purchase behavior, we arrive at a comprehensive sales volume forecast.
What methods do you use to forecast sales volume for your business? Share your insights in the comments below and join the conversation. If you find this podcast beneficial, don't forget to like and subscribe. Share it with your friends to spread the knowledge and benefits of accurate volume forecasting.
Thank you for joining us on this informative journey. Wishing you continued success and accurate sales forecasting in your business endeavors. All the best!
