Understand why marketing objectives are essential
Many marketing teams often fail at the first hurdle when they lack objectives that are aligned to business goals. Not only does this mean an absence of focus, it also leads to little interest from the rest of the business.
However, with clear set objectives that are SMART, marketing teams, have clarity of direction which leads to success. So rather than reporting mid-tier metrics back to board, with KPI’s that are a derivative of business goals, they are able to demonstrate how their actions lead to business outcomes. Suddenly everyone is interested!
Discover your company’s WHY
During any planning session, our consultants will always ask the marketer to articulate the company’s why. This is so essential to any marketing planning.
Simon Sinek states that customers do not buy products because of what they do but because of why they exist.
Simply listing out the things your brand is good at is no longer enough. People now want to know what is behind the brand, why they exist and what their mission is and why they should choose their brand over their competitors, people now want to know the story behind the brand. Knowing this and understanding it helps you identify target markets, write copy and create campaigns.
Start by listening to Simon Sinek’s “Start with Why”, share with your team to start the journey of successful marketing planning. How about discovering the why of your team – document it, and share with the wider business.
Document your current business & department objectives
Once you have discovered the why of your business, it’s time to start documenting objectives and goals.
- What are the objectives of the business
- What are the objectives of the marketing department (these must relate to the business objectives)
Define new marketing SMART Objectives
Once you have documented your teams objectives – check to see if they are SMART.
Specific: Be clear and specific so you can easily focus your efforts on what you want to achieve.
Measurable: To track progress and know when you’ve met your goal you need to be able to measure it.
Achievable: It needs to be something that is realistically attainable.
Relevant: The goal should matter to you and align with other goals.
Time-bound: Set a deadline to work towards to help you prioritise your efforts.
Smart Objective Examples:–
“Increase website visits by 10% in June, July and August 2020 compared to the same period in the previous year.”
“Increase the average order value of online sales to £35 per customer by the end of August 2020.”
“Reduce customer database churn rate by 5% by December 2020.”
Define the SMART KPI’s
Your Marketing KPI’s allow you to ensure your outcomes or performance are measurable. They are the things you are aiming for. For Example: – To deliver 100 leads a month or to sell 500 platform boots in a quarter.
However, good objectives that are designed to hit departmental KPI’s will also have their own individual KPI’s as we have seen above.
To help with your planning we have created a printable worksheet which you can access here