Measurement Tip #25
How Forecasting a Marketing Event Influences Perceptions and Results
by Ed Jones
Forecasting is an essential part of planning, otherwise, there is no way to know what the results should be and therefore how much to spend as an investment. Without a forecast, it is difficult to tell what elements of an event plan worked and which did not. Additionally, a good forecast allows the event manager to set realistic expectations with executives and others about what will be accomplished, overcoming perhaps erroneous, but hazardous preconceived notions about results. And finally, a forecast sets realistic, quantitative goals for the team to pursue.