Defining marketing objectives and goals will help you organize and prioritize activities. Without setting objectives and goals that are clear and meaningful, you’ll only do well accidentally. Objectives and goals provide direction and structure for success, around which you optimize your marketing and business development activities. Being purposeful and heading towards defined goals will you keep your company moving forward.
For every marketing objective, your firm’s strategic marketing team should develop an action plan. This plan should:
- Describe the Means: Clearly and specifically describe how the firm’s marketing objectives will be accomplished. Describe the required activities and in what sequence. Do any of the firm’s marketing practices need to be added, adjusted, refined, or removed?
- Identify Resources: What are the resources needed to achieve the planned objectives? In effect, does the firm have the time, money, talent, facilities, information, etc., to realize the objectives?
- Identify Roles and Responsibilities: All marketing roles and responsibilities need be identified, assigned, and communicated. Everyone who has a role in the plan must be held accountable.
- Describes the Time Frame: How much time does the strategic marketing team need to perform each objective? How might the time frame for each objective be affected by each part of the plan?
- Describe Key Metrics: What kind of reporting is needed to inform the firm’s leadership that the company is in line to meet the described marketing objectives? How will each objective be measured and monitored? What metrics are the best indicators of success or failure?
When you have an action plan to meet a specific objective, develop small daily goals that roll up into bigger goals. Individual employee goals contribute to department goals, which are all geared toward the overarching goal or the company mission. As you set your goals for marketing, test their potential for success against these guidelines for meeting goals.
Goals should be:
- Specific and well defined - If your goal is to be "the best" company in the world, you'll have to break that down! Define specifically what that means for your firm. Start with your overall mission and work down from there to define company goals, and write them down.
- Measurable - This provides the opportunity to celebrate milestones and make course changes. By measuring the goal in an agreed-upon manner, you can rate performance of the company as a whole and of employees’ output and quality, and you can set new goals.
- Achievable - It's fine to set lofty goals. In order for practical, day-to-day company operations to have purpose, however, goals must be possible and believable. Unattainable goals frustrate and too-easy goals also backfire. Set marketing goals that are a stretch but not unrealistic, present them enthusiastically and get buy-in from your team.
- Relevant - In marketing, you may describe your goal as increased engagement. There are many types of behavior that may count as engagement, but other don't. Setting out a goal for Facebook "likes" may not be relevant, for instance, because you may never sell anything to those fans.
- Time-limited - This limitation provides a basis for measurement and specific time to evaluate. Even if you didn’t quite make one goal, you can learn from it and move on to set new goals.
Once approved, the leadership should communicate the marketing objectives and goals. They should be prominently posted in the workplace as an ongoing reminder.
To learn more about setting marketing goals, contact Colosi Marketing.
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