Assisting you in developing marketing objectives that will point you in the right direction to achieve your objectives. What is marketing objectives? What do you need to know about marketing objectives? Here is your ultimate guide to marketing objectives.
After determining your marketing audit’s strengths and weaknesses, as well as the opportunities and threats available, you can redefine your marketing objectives and how they fit in with your business objectives.
Client marketing objectives typically include some or all of the following:
- Increase your sales.
- Increase brand awareness
- Increase market share
- Introduce new products or services.
- Look for new customers.
- Enter new international or domestic markets.
- Enhance stakeholder relations
- Improve customer relations
- Enhance internal communication
- Increase your profit.
Creating SMART Marketing Objectives
Essentially, your marketing objectives must align with the overall business objectives and drive the direction of your marketing strategy. Any objective should be SMART in order to be effective.
A SMART objective is always:
- Specific
- Measureable
- Achievable
- Realistic
- Time-bound
Setting SMART objectives helps to clarify where you want to go by providing a measurable goal that can be tracked and plans developed to help meet business objectives.
Examples of Marketing Objectives
Typical marketing goals that clients set include:
- To increase the number of inquiries generated by our marketing communications efforts by 15% by the end of the year.
- Increasing sales by 20% in 18 months
Win Marketing assists clients in developing marketing objectives. This can be accomplished by facilitating a marketing objectives workshop in which key issues are discussed and agreed upon. Alternatively, with smaller companies, we work one-on-one with Managing Directors to help them develop their key marketing goals and objectives. Both approaches can assist a company in establishing business and marketing objectives, as well as developing a marketing plan to outline how these objectives can be met. Methods of measuring success, as well as monitoring and evaluation processes, can also be discussed in a workshop.
Read More About The Concept Of Marketing.
What Are Marketing Goals?
Marketing objectives are the desired outcomes of a brand’s marketing activities. They should be measurable (and realistic) so that you can plan your efforts strategically and effectively.
Not to be confused with marketing goals, objectives define how you’ll know if you’ve met a goal—for example, “increase the share of voice by 20% by the end of Q3” (objective) vs “be seen as an industry leader” (goal).
Why Are Marketing Goals Important?
Have you ever tried throwing spaghetti at a wall to see what sticks? It’s usually a disaster. Without marketing objectives, there is no way to steer your marketing ship. They not only provide your team with a direction and a goal to work toward, but they also allow you to track and measure whether your efforts are paying off.
The examples below are of goals and marketing objectives that you can use in your business.
Increase your prospects from existing markets.
It’s unlikely that you’ve exhausted all of the potential leads from your current platforms. Experiment with various methods to convert more people who already know who you are or are in the pipeline.
Example Goal: By the end of the calendar year, implement content upgrades into every blog post in order to convert 30% of our website visitors into prospective sales leads.
Shopify offers a variety of content upgrades to appeal to various market segments.
Read More About What Is Lead Generation For B2B.
Product Introduction
Launching a new product can provide numerous benefits to your brand, including reaching new customers, increasing brand awareness, and cementing your position as one of the top brands in your market. However, there are numerous steps involved in launching a new product, so it’s critical that you plan them strategically in order to hit every milestone.
Example Objective: By the end of the week, define the go-to-market strategy for Product A so that the team can create all content before the launch date.
Boost Traffic
More visitors equals more conversions. When you concentrate on bringing new leads to your website, you can improve your search engine rankings, expand your industry reach, and gain more detailed insights.
Example Objective: Every month, test three new traffic generation methods in order to increase traffic by 3% month over month.
Google Analytics can tell you which sources are bringing the most visitors to your website.
Read More About Why Starting A Small Business Is Very Important.
Improve Brand Positioning
A clear path forward entails knowing who you are and what you want to say. Identifying your market position allows you to communicate your USP and attract the right customers and clients.
Example Objective: By the end of the month, define our brand positioning statement and communication frameworks so that our team understands our strategic differentiators from the competition.
The communication and style guide provided by Mailchimp assists them in maintaining consistent messaging within their market.
Increase Brand Visibility
The more visible your brand is, the more opportunities you will have to reach out to potential customers. Increasing your brand’s presence could mean appearing on more platforms or posting more on the channels where you’re already active.
Example Objective: To increase brand visibility, publish four articles per month on external websites that our target audience visits.
Read More About Why Starting A Small Business Is Very Important.
Enhance Brand Reputation
Improving how customers perceive your brand will result in higher customer satisfaction rates and a more enjoyable customer experience. The more satisfied your customers are, the more repeat purchases they will make, and the higher your long-term revenue will be.
Enhance Product Quality
Product quality can have an impact on other aspects of your business, such as brand reputation and customer satisfaction. If you can ensure that your product is of the highest possible quality, you will improve the customer experience and generate more positive reviews.
Example Goal: Launch Product A with zero bugs by the end of the month.
Increase your customer base in existing markets.
Unlike acquiring prospects, acquiring customers entails convincing people to buy from you. The more customers you have, the more revenue you generate, but it also increases brand awareness and market share.
Example Goal: By the end of the fiscal year, implement off-site tactics to acquire 5% more customers month over month.
Expand into New Markets
Exploring new markets provides you with more prospects and allows you to establish a brand presence in new areas. Furthermore, positioning yourself in new markets can help you stand out from your competitors.
