How often do you set marketing goals that you fulfill? And if you are fulfilling your marketing goals what do they mean for your business? So, how does it feel when you hit the goals you strategically planned out?
Even better, the excitement when you get a better return for the money! There is this problem of setting marketing goals that actually matter to the vision of your company and to your bottom line. Most marketing goals seem to be goals based around intangibles (such as brand awareness, brand recognition, acceptance of marketing message) that are hard to measure, and if not scored correctly can be extremely damaging. It’s daunting enough to creatively think about marketing but to associate it with your bottom line can seem ludacris.
Of course this post wouldn't exist without a course of action to solve this problem, so next time around setting goals that actually matter won’t be so hard and annoying.
When you’re coming up on your scheduled time to sit down and strategically plan your marketing start to think about the vision of the company. Where are you taking the company? What kind of annual results do you need to produce to reach that vision? Use these as your benchmark so that you never have to live in the world of planning marketing campaigns just for the sake of planning them.
5 steps to take to make sure your goals matter
1. Once you’ve had sufficient time to review the vision of your company and what types of benchmarks you need to hit to reach that vision, you’re ready to lay out your marketing.
With your overall objective in check start to work backwards. Determine what it will take for the vision of your company to become a reality. How much will it cost? How long will it take? Why might it not work?
2. Now break that up. Determine an annual revenue target (with room for adjustment). This will serve as an objective benchmark. What is it going to take each year to reach that overall vision. Work backwards from “how much will this vision cost?”
2. Then break it down further. Determine your quarterly and monthly revenue targets. Break it down into smaller chunks so you don’t have to wait as long to make adjustments for faster progress. Remember you are constantly checking yourself against your vision of your company.
3. Next, you’re going to want to analyze each of your monthly target. Determine what it is that you need to accomplish each month to hit that revenue target. How many website visitors do you need? What is the conversion rate? How many of those leads are given to sales? etc...
4. After you have done a significant analysis and you have a good idea of the resources it will take, build your monthly goals into monthly marketing campaigns. What are your assets for converting leads through to your sales team via your website?
5. Finally, develop a set of SMART goals for each monthly marketing campaign.
These will provide a structure so that your goals come as easily digestible chunks
** it’s better to consistently reach benchmarks than to tirelessly run after a dream.
Take your time when planning out your marketing strategy. You want to be confident that you can track your marketing efforts. There is no special equation to use for successful marketing but there are a ton of ways to accurately report on your efforts so that you can quantify those results and innovate the next step to propel you forward.
Now start producing your next marketing campaign. Except this time, follow these 5 steps and produce a campaign that actually matters to your business and, of course, drives results.
Want to learn more about developing marketing campaigns from a strategic point of view that has real impact on your bottom line? Learn more here or schedule a strategy call with one of our wizardz who will take you through our process step-by-step.