It requires an understanding of consumer behavior so that you angle your arrow and aim for the target of optimal results. You craft the best message to reach the right consumers, and ultimately attract them to your service.
To figure out how to go about tackling your high-level goals strategies, let’s focus on the objectives first, how they help you gauge your efforts, and what they can do for your business's bottom line.
What are marketing objectives?
Think about a video game; you have the end goal during the duration of the game’s storyline, but the objectives are the smaller tasks that progress you through the levels. The same idea is applied here. An objective is a smaller part of the bigger picture. This is what your marketing efforts are applied toward and the structure behind your strategic execution. Objectives help to keep you on the track of the main goals that move your business forward.
Marketing objectives are critical to your strategy plan because they keep your team on track toward your macro-level goals. It lays out the playbook for what tactics you will use to get there and are, essentially, the steps you plan to take.
Each of your objectives should have an identified KPI (key performance indicator), which means that whether you’re tracking social media analytics, conversion rates, or traffic levels, these indicators will measure your progress and how far along you are toward success.
Let’s say your goal is to drive more business through your marketing efforts. A good example of a marketing objective would be “increase email open rates by X% in Q3.” In the grand scheme of strategy building, your open rates mean that people are moving down your funnel. Increasing your open rates contributes to this longer-term desire for your business and breaks it further into an actionable plan.
To make sure your objectives make sense for your business, keep in mind to identify the 4 Ps of marketing when developing your strategies: Price, Product, Place, and Promotion. These four areas will help you hone in on factors that affect the touch points you have with your audience.
TIP: Read more about the 4 Ps and their role in marketing.
How to define clear marketing objectives with SMART goals
SMART is an acronym that stands for Specific, Measurable, Attainable, Relevant and Timely goals. These guidelines help to further break down your objectives and help guide their creation to further clarify what your efforts are aiming toward. SMART goals help to identify how you will measure the success of what you’ve done and what metrics will show that you’ve moved the needle.
Specific: What exactly is it that you’re trying to achieve? Who are you going to target how?
Measurable: How will you measure your success? (Metrics, KPIs, traffic, revenue, sales, etc.) Is it something that is quantifiable, or are you stumbling in the dark to test the waters?
Attainable: Does this make sense for you and your peers? Is it totally out of left field, or is this something realistic your team can achieve?
Relevant: Will this objective even matter to your company or stakeholders? If you’re trying to fit a square into a circle, it’s probably not a relevant objective to hit.
Timely: Is this the right time to make the move? Is it something people are currently talking about? Does it relate to current events? Will people understand the point you’re trying to make?
The tie in here is to leverage these specifics in order to know the limits and boundaries of the overall marketing goals you are trying to achieve. Identifying objectives through SMART goals gives you a laser focus.. The more specific you get with your objectives, the more likely you are to hit them.
Marketing objective example
A few examples of marketing objectives would be: to increase your business sales, improve product awareness, or establish yourself in the industry. These may seem as broad examples to start, but when carefully planned out and given KPI’s, you begin to build a structure that will hold the light on the road to marketing success.
Here’s a closer look at each of these variations of objectives you may shoot for in your marketing strategy.
Increasing business sales
It’s a given that sales goals are commonly at the epicenter of a for-profit business model. The main bullseye in a marketing strategy for this kind of entity will revolve around aligning marketing strategies and sales together to drive more business. Your objectives will sound more specific, like “Increase the amount of online women shoe sales by x%.” This further breaks down the goal and makes it more feasible for your marketing efforts.
Product or brand awareness is crucial in ensuring that your brand becomes recognizable on a large scale, and hopefully for good reason. Sometimes these objectives revolve around improving the pride people take in using your brand. A great example would be “Add value to customer base via user-generated content.” With this you can get more detailed and add a timeline for this objective that’s appropriate to your business.
Establishing yourself in your industry
Knowing you’re an expert in your field doesn’t mean much if others don’t know it as well. Establishing yourself as a thought leader in your industry can have significant positive impacts on your reputation with your audience. Being a thought leader in your specific field or niche can portray your band as the trusted go-to for your audience.
So why are marketing objectives important to your business’ bottom line? They keep you on track and aligned with you marketing goals that may not necessarily have a time limit. A good time to implement objectives could be when the new fiscal year begins, a quarter ends, or if your business or product is making a shift.
Bianca is a Marketing Specialist at Parkey Dewey. After completing her degree in Public Relations at Columbia College Chicago, she previously was Content Promotion Specialist at G2. To take a break from everyday life, her adventures usually involve hiking in the mountains, attending music festivals, and eating great food.