What Your Marketing Objectives And Goals Should Be For 2018!
With 2018 just around the corner, it’s time to start thinking about the marketing strategy as well as the budget for the year ahead. Marketing objectives should form the key of actionable strategies as per the marketing plan. Without specific objectives and goals, the marketing efforts will be scattered and unfocused. Businesses need to plan for 2018 keeping these important objectives and goals in mind.
#1 There’s More to Marketing Than Sales
If sales numbers are shooting through the roof, complacency should not set in. When sales are phenomenal, other aspects of marketing also need to be worked on. These include entry/exit barriers, improving client or customer sales, lowering customer acquisition and investing to raise market share. If sales are cold, assess where the customers originate from, examine every marketing medium and find cost efficient ways to improve the plan. Customer feedback, evaluation, pricing and looking for market areas that are more cost efficient and profit yielding also form part of the Pathwwway Panama process.
#2 Clarity Matters When It Comes to Measuring Success
Clear goals and marketing objectives need to be set, so success of outreach campaigns can be tracked and measured. Create important objectives in association with these goals. The aim should be to set financial, feasible, operational, accomplishable and attainable goals. If you can count the number of leads, your conversion rate, cost for each customer acquisition and profits per customer, one can measure the investment needed to reach the goals. Knowledge of the numbers can help in calculating what it means to acquire even one more customer.
#3 Metrics to Measure Success Should be Defined
Assess which metrics will be used to measure the success on every marketing channel. For all marketing channel, the metrics will be unique. For SEO, a blend of organic-traffic growth, rankings, cost for organic visitors and conversions matter. In PPC advertising, one looks at cost for every action, conversion, time spent on site and conversion rate, average position, cost per click, cost per acquisition/leads per device type. Social media measures include metrics like user engagement and numbers. For each marketing channel, specific goals need to be set.
#4 Determine Strategy and Action Plan
Marketing objectives and goals only hold value if there is a marketing strategy through which results will be attained and why the planning is optimal on functionality. The action plan is associated with the strategy. It is these “nuts and bolts” of everyday strategies which ensure alignment of work schedule with company objectives. Resources and budgets are attached to every program used.
#5 Consider the Wider Market, Assess the Competition
It is essential to check out marketing trends and industry standards. The marketing landscape is constantly evolving. Rankings change online (and offline too) as fresh industry players come into the market. Opening up to saturated markets or innovative products and new competitors means you need to evaluate if your business model, offering and positioning are to remain competitive and relevant.
It is also vital to consider how services are changing in the industry and what client expectations will be like in the coming year. Strengths, weaknesses, opportunities and threats need to be analysed in this context. It is important to consider the marketing messages and promotional strategies as well as what your key marketing differentiators will be. The marketing message needs to be clear for each product category or service type. Promotional strategies should be in place. Even with the right customer experience and the perfect product, sales process need attention. You need to have a laser focus for optimal customer communication.
#6 Feedback: Why Knowledge of Results Matter
Mapping it out is not enough. You need to request feedback too. Map out strategies and tactics along with marketing channel budget and assign point persons who are accountable. Analysis from companies like Pathwwway Panama can make all the difference between failure and success. Calls to vendors or the industry partners one works with, serve as a useful source of fresh ideas.
#7 Plan Goals For Each Marketing Channel
Big data or market and customer insights and advanced analytics serve as a useful pointer. Content marketing goals and objectives also need to be in place for vertical or branded niche communities. CRO improves website experience and must be planned for. Displays, IoT marketing applications, marketing automation, mobile marketing, paid search marketing, influencer marketing and online PR, SEO, Social media marketing, wearables like Apple Watch, AR and activity tracks as well as affiliate and co-marketing are all relevant to your goal setting.
#8 Set Lifecycle Marketing Goals
You need to be with the customer decision and purchase journey every step of the way. Therefore, it is essential to ensure you map out marketing goals and objectives to ensure most relevant experiences and communications for various touch-points in the client journey. Lifecycle marketing is new to the industry, but it is critical. Creation of managed communications or contact strategy is vital for prioritising and integrating the entire range of communication channels for marketing. Supporting prospects and customers on the path to purchase involves the use of personalisation, persuasion and re-marketing. When it comes to marketing, persistence pays. For increasing the relevance and responsiveness of communications, website personalisation and email marketing to stay connected with clients is becoming increasingly important.
#9 Machine Learning Meets Marketing Automation
Goals and objectives need to ensure that email and marketing automation systems are in place. Full lifecycle management entails the need for intelligent marketing automation and smart algorithms. Segmentation and targeting of emails based on criteria are also essential. Increased use of messaging apps, for example, is the latest trend to hit marketing campaigns. Social messaging apps yield smart insights such as Messenger for Pizza Hut and IKEA’s customer research.
#10 Mastering Micro Moments, Creating the Wow Experience
Mobile gadgets are a major influence in engagement and customer interactions with different brands across the globe. Micro moments are at the root of it. Reaching out for the mobile and connecting with brands is a form of impulse purchases that yield rich dividends. Marketing goals and objectives need to be geared to these as well as Wow experiences for delighting customers. Micro moments form a critical part of evaluative touch-points where customers cater to needs with reliable data, regardless of location and time.