Prerequisites
- You must have created and activated your account.
- You must have a current subscription.
- You must be an organisation admin.
Required time: Up to 10 minutes
This article will guide you through the process of creating a revenue model. This will allow you to see how much revenue you can make in any area on the map. We've also created a video that guides you through the basics of revenue models and how to use and create them.
Getting started
From the Vision Home page
Click the Settings in the top right of your page.
- Select the Organisations tab on the left-hand side.
- Click the blue Manage button next to your Organisation name.
- Select Revenue Models from the navigation menu, and then
- Click Create new revenue model at the top of the page.
Step 1 - The basics
Select the geographic region for your revenue model and give it a name.
The geographic region cannot be changed later, so it's important to choose the correct region when creating a revenue model.
Click Continue to move on.
Step 2 - Customer data source
In this step, you need to define how, or if, your customer count data is integrated into the revenue model. There are three available options here:
Location layer
This is the preferred method. Your customers are provided by imported locations. This will give you the most accurate data and most flexible model. Select this option and choose the relevant layer from the dropdown menu.
Demographic attribute
Your customer counts are provided by aggregated data that has been imported as a demographic attribute. This will give you accurate counts, but may be more limiting on where the model can be used. Select this option and choose the relevant demographic attribute from the dropdown menu.
None
You don't have any customer data. Revenue models can still show you your potential revenue in an area, you just won't see your actual market penetration.
Click Continue once you've selected your data source.
Step 3 - Revenue data source
In this step, you need to define how, or if, your revenue data is being integrated into the revenue model. There are three available options again:
Customer attribute
Preferred. Your revenue data is provided against each customer location. This will give you the most accurate data and most flexible model. Select this option and choose the relevant attribute from the dropdown menu.
Only available when your customer source is a location layer.
Demographic attribute
Your revenue is provided by aggregated data that has been imported as a demographic attribute. This will give you accurate values but may be more limiting on where the model can be used. Select the dropdown menu and choose the relevant demographic attribute from the dropdown menu.
None
You don't have any revenue data. Revenue models can still show you your potential revenue in an area, you just won't see your actual revenue.
Click Continue once you've selected your data source.
Step 4 - Potential customers data source and calculation settings
In this step, you need to define your target customers and the calculation settings to build the revenue model.
First, you will need to select your potential customers' data source. This is a demographic attribute that best describes your customers’ primary characteristic, e.g. a particular age group or household type.
In this next section, you can decide how to calculate your average customer value. There are two options:
I'll enter my own figure(recommended)
Your average customer value will be set at the figure you provide. This is a static figure that you will compare your current sales against. We recommend you define this as your annual average customer value, not lifetime, because your revenue model is likely to reference annual sales.
Auto-calculate
Calculate your average customer value model figure based on the live value within your data. Your potential revenue will be a constantly moving target based on current performance.
Only available when your customer and revenue data is provided by customer locations and associated values.
The last setting is your market penetration. You can enter either your current market penetration that is being achieved or an estimation.
If you'd like help on calculating your market penetration or average customer value, follow our help centre video on the subject.
When you're happy, click Save and Close. Your revenue model is now complete.
For help viewing and understanding the Revenue models tab for an area, please refer to the video at the beginning of the article.
If you have any questions or need assistance setting up your first revenue model, please don't hesitate to contact us.