The Benefits of Defining Marketing Objectives
In this business, we spend so much time working to streamline production, overcome the skilled worker shortage, and manage the supply chain challenges, that we forget some of the business aspects of running the business. We’re asking you if you’ve recently looked at your marketing objectives. And if you have, have you defined them? It’s likely not on the top of your to-do list, but we’re here to tell you why it should be.
The basis for success
The goal-setting process plays a crucial role in the success of any business. I have often heard my father talk about his business using the metaphor of a boat. The ship must have a single captain on board to reach its destination. The captain’s role is to foresee and anticipate possible storms. They also determine the destination and coordinate their crew to arrive at the port according to the planned timetable.
If the crew has no idea of the destination or arrival details, they cannot be expected to row with motivation, in harmony, or even in the same direction!
It is the same in business. Goals are your destination. If your team doesn’t know where you’re going, how can they put the right actions in place to follow you?
What happens without marketing objectives?
The first step in any marketing plan is to define objectives. It’s only natural considering that marketing objectives define our “destination,” while strategies map out the path, and tactics are how you get there.
Even though this concept is obvious, few companies take the time to define their objectives every year or even every two to three years. The exercise is simple, but it takes little time. Ultimately, it’s much more reassuring to know where you’re going than to sail with your eyes closed!
Here are some examples of marketing objectives related to sales:
- Increase your sales by …%
- Increase sales of the flagship product by …%
- Increase sales by representative, by territory, by distributor
- Increase the number of distributors
Marketing objectives :
- Increase your brand awareness
- Increase your web traffic
- Increase your social community
- Increase your email address bank
I suggest you opt for SMART objectives to ensure that you are on the right track and that your goals are valid. It’s necessary to remember that our goals must be Specific, Measurable, Attainable, Realistic, and Time-bound to achieve better results. Following this method, goals become much more realistic and achievable and can be used more effectively to point the way forward.
Here is an example:
Overall goal: Increase my web traffic.
- Specific: I would like to receive an average of 40 visitors daily.
- Measurable: My indicator will be Google analytics results.
- Achievable: A strategy combining content creation, such as blog posts, optimization of my SEO efforts, and creating Facebook Ads and Google Adwords campaigns will increase traffic.
- Realistic: With one blog post per week, a $500 per month Adwords budget with well-chosen keywords, and a $300 budget every two months.
- Time-bound: Over one year.
Once you have defined your marketing objectives, you can and should create and implement the right strategies and tactics that will allow you to stand out and create value in the eyes of your customers. Strategies and tactics will perfectly align with your marketing objectives and propel your sales to the level of your ambitions. Don’t forget to communicate your intentions to your team. You want them rowing in the same direction as you, right?
Julie St-Arnaud is the founder of Violette Direction Marketing. In her 20 years of experience, Julie has developed solid management expertise, particularly in business development, corporate repositioning, and inbound marketing strategies. In addition, she has worked with several companies in the manufacturing sector, including more than five years with furniture manufacturers, where she spent several years as a sales and marketing manager.