Getting Started with Marketing Forecasting:
Measurements, Incentives and Trust
The next piece of the marketing forecast is the correct amount of measurements and incentives to build trust and accountability. After all, if there is no trust from the executives, there is no credibility benefit.
To build trust in the forecast, it will take some time and correct projections based off of the metrics you have put together. This is also where the correct incentives and measurements will help build trust as well.
Remember, when you reward honest marketing forecasting, you create trust in that forecast and encourages others to do better in predicting the information needed for the forecast. Once trust becomes established, the company will put more resources into it such as funding more personnel.
Along with accuracy of the forecast, don't forget other metrics including: forecast completeness, forecast bias and forecast consistency.
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