Defining, setting and achieving marketing objectives
Defining, setting and achieving marketing objectives
Marketing can broadly be defined as creating a desire for the product or service you are selling. An important step in creating your marketing plan is defining your marketing objectives for a certain time period.
Marketing objectives form an integral part of your marketing plan as they will not only keep you focused but will also help to determine the voice of your marketing message. In short, marketing objectives help you achieve your long-term business goal in the short-term. Below are some examples of marketing objectives:
- Attract x number of partners or investors
- Increase sales by x%
- Increase the total amount current clients are spending with you
- Increase brand awareness among target audience
- Increase market share by x%
- Increase customer satisfaction and relationships
- Increase loyalty among current customers
- Increase turnover by x%
- Increase sales through website with x%
When setting your objectives always keep in mind the SMART criteria. This means that objectives should always be:
Specific
State clearly what you want to achieve
Measurable
Possible to measure and document what was achieved
Achievable
Goals should not be set too low but also not too high (i.e. increase market share by 35% in 3 months)
Realistic
Do you have the necessary resources to achieve your objectives?
Time Bound
Allocate a time period in which the objective should be achieved
Once you have determined your marketing objectives you need to create and implement a plan to achieve these objectives. In order to ensure you achieve your marketing objectives look at them often to determine if you're still on track or if you need to step up your marketing game. The Twenty3Media team can help you determine and achieve your marketing objectives, ask us!