How to establish marketing objectives the SMART way
The first thing to understand is the subtle difference between a goal and an objective. A general goal is going to be your broader vision while your marketing objective is that more concrete specification of how that vision is achieved. In order to craft your marketing objective, you must start with vision first by defining three main things:
Need – What is the driving force — or the “why” — behind what you want to achieve? What are your customers pains or problems that has led you to this point, and why must it be solved?
Vision – What does success look like — or “how” does the end vision solve that problem?
Goal – What steps must be taken — or the “what” — for that aspiration to come to fruition?
Now that we understand the “why” and the “how” behind setting marketing objectives, let’s go over how you can root the “what” in reality with the SMART goal framework.
SMART goals are realistic, quantifiable, and focused targets that you can easily aim for. If you’re wondering what SMART means, it’s an acronym that helps you clearly define your goals.
In terms of marketing, you should choose the particular metric you want to improve upon, like visitors, leads, or customers. You should also determine what each team member will work on, the resources they’ll have, and their plan of action.
If you want to gauge your team’s progress, you need to quantify your goals, like achieving an X% increase in visitors, leads, or customers.
Make sure that X% increase is achievable in your specific situation. If your blog traffic increased by 5% last month, try to increase it by 8-10% this month, not 30%. It’s crucial to base your goals on your own analytics, not industry benchmarks, or else you might bite off more than you can chew.
Your goal needs to relate to your company’s overall goal and account for current trends in your industry. For instance, will growing your Facebook following lead to more revenue? And is it actually possible for you to significantly boost your organic reach on Facebook after their most recent algorithm change? If you’re aware of these factors, you’ll be more likely to set goals that are realistic, achievable, and beneficial to your company.
Attaching deadlines to your goals puts pressure on your team to accomplish them. And this helps you make consistent and significant progress in the long term. If you don’t give yourself a deadline, you can very easily fall into the trap of procrastinating on action items, leading to a slower rate of success.
By analyzing two different goal-setting frameworks, we’ve learned how to identify the “why,” “how,” and “what” behind your marketing objectives. Now, we can blend the two frameworks to set a realistic goal that fulfills your customers’ needs and helps you hit your numbers at the same time.
If you are still challenged in setting up Marketing objectives for your business contact us on email@example.com for assistance!