Going somewhere?

Category: Marketing Strategy

Friday July 24th, 2015

Sat Navs are great aren’t they? You just punch in a postcode and listen to the lovely man tell you in whichever accent you choose, which route to take. And when you’ve reached your destination, he’ll kindly announce that too. With the exception of the occasional person landing in a stream, they generally guide you to where you want go.

Your marketing objectives are just the same. They form a most crucial part of your marketing strategy for a number of reasons:

1. If you don’t know where your going, how can your marketing tactical activity be in the least bit effective? Your products, pricing, routes to market and promotional activity needs to be focused on what it is you are trying to achieve (aka your objectives).

2. Objectives bring your people into alignment: if they all know what they’re supposed to be doing, they’ll work towards the same things. Your staff may also become more engaged when objectives are achieved.

3. Individuals become accountable when objectives are set: someone has to own each objective and when one person is accountable, the objective becomes a priority for them.

Just like a sat nav, your marketing objectives focus you on getting where you want to go. But what should objectives look like? They should look SMART. You will probably have heard this before, but here’s a quick reminder.

Your marketing objectives should be:

  • Specific (with numbers)
  • Measurable (to monitor progress and confirm achievement)
  • Actionable (can we do it?)
  • Reasonable (realistically attainable)
  • Time Bound (incorporate deadlines)

The key elements here are numbers and a date – this ensures that you can measure the objective and that it doesn’t ‘drift’. You need a completion target date to maintain focus.

 Here’s an example:
To increase our manufacturing market share by 15% by 31 December 2015

But don’t worry about it too much. If you need help developing your marketing strategy, or just defining your marketing objectives, contact Darren Joslin on 07904 729584 or email him at dj@horizondml.co.uk

 

 

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