Objectives In Marketing Plan – How To Write It

Published: 2023-08-30
Views: 309
Author: Writer
Published in: Sales & Marketing

Marketing objectives are actionable targets designed to provide clear and specific actions, following the SMART philosophy (specific, measurable, attainable, relevant, and time-based).

These objectives should be tied to the overall success of the company and go beyond arbitrary numbers.

While goals define the endpoint, marketing objectives outline the specific actions and targets that the marketing team will undertake to achieve those goals.

Although the terms "goals" and "objectives" are often used interchangeably, they have distinct differences in the realm of digital marketing.

Effective marketing objectives exhibit key features:

1. Specific: They include specific metrics, such as a percentage increase in sales or a specific dollar amount.
2. Measurable: Objectives must be measurable, outlining how success will be measured, such as an increase in organic brand searches or social media mentions.
3. Attainable: Objectives should be realistic and attainable, considering the necessary steps and resources to reach them.
4. Relevant: Objectives should align with the overall purpose of the business and contribute to the marketing strategy as a whole.
5. Time-Based: Objectives should have a reasonable timeframe for achievement, usually based on a year or financial quarter.

Examples of marketing objectives

Here are some examples of marketing objectives along with tracking methods:

1. Increase Sales: Increase sales by 15% in the next six months by increasing new signups and average customer orders. This could be achieved through lead generation content production or email marketing automation.
2. Increase Leads: Boost the number of leads by 25% in the next year by launching two new lead generation funnels on the website.
3. Grow Brand Awareness: Improve brand awareness in the next 12 months, measured by a 50% increase in organic brand name searches through social media saturation, social media ads, and an influencer campaign.
4. Undertake market research: Marketing campaigns aren't solely for promoting a new product. They sometimes have research objectives, enabling marketing teams to evaluate their messaging strategies and conduct surveys in untapped markets, regardless of whether a small business or large corporation is involved.
5. Boost market share: Some companies set objectives not just based on their profits, but also on the intent to conquer the market. They use sales rankings to assess the success of this marketing goal.
6. Maintain customer loyalty: In some cases, a marketing campaign's primary target is the company's existing customers.

Since retaining customers tend to be more cost-effective than acquiring new ones, many businesses invest in dedicated outreach efforts like email marketing and direct communication with current clients.

To set good marketing objectives for your business

1. Align on Company Objectives: Establish high-level goals for the business annually, with potential updates every three to six months.
2. Set Marketing Team Goals: Each marketing team sets its goals that align with the overall company objectives. Individuals within the team may also define their objectives that contribute to the team's goals.
3. Determine Measurement Methods: Identify the key performance indicators (KPIs) that will be used to measure the success of marketing efforts.
4. Measure and Assess: Evaluate the performance against the objectives at the designated deadline and regroup with the marketing team to strategize new ways to achieve the objectives or set new objectives based on the assessment.

Benefits of Setting Marketing Objectives

Shaping marketing strategies around specified objectives rather than merely time-bound campaigns, which emphasize duration over specific goals, presents several benefits:

1. Unifies the marketing team: Marketing teams usually comprise individuals creating various types of content such as print ads, social media posts, digital marketing copy, and multimedia content. Operating from a common set of marketing goals can align these individuals and ensure consistent messaging.
2. Encourages corporate self-reflection: The objectives set for a marketing campaign often reflect the overall company. To make a marketing goal, like doubling the company's user base, achievable, the objective should also be realistic for the company as a whole.

This scenario sometimes necessitates setting SMART goals, prompting company leaders to evaluate their organization objectively.

3. Facilitates adjustment of marketing campaigns: While marketing campaigns that simply run a series of ads for a fixed duration might be easy to execute, their effectiveness can be challenging to assess.

    

   Clear marketing objectives can alter this scenario. By establishing measurable goals and monitoring key metrics, companies can determine whether their marketing strategies are effective in real-time. If not, they can modify their messaging to realign with their objectives.

    

Disadvantages of Setting Marketing Objectives