At the beginning of a new financial year, it is the perfect time to set or revise your marketing goals. The truth is, if you’re in business, you need a marketing plan. A marketing plan acts as an extension of your business plan; it’s important to have your business plan finalised first so that your marketing efforts are not made in vain. That way, your marketing plan will support your wider business plan and help your business move in the direction you wish to take it.
So, why is it so important to plan your marketing goals? Having clear goals and a refined focus will make success much more likely than if you are simply “winging it” with a Facebook campaign. Your goals can be weekly, monthly or yearly targets. Once your goals are set, you can determine what marketing channels and tactics will help you get there.
How to Choose Marketing Goals?
Any marketing plan should be a healthy combination of long-term and short-term marketing goals. These goals should be in line with your business plan and where you envision your business going in the far future. It might seem easiest to think small and start with the quick and easy things to do, but we recommend just the opposite. Think big and work your way backwards!
Here is the process that we recommend going by to define your marketing goals:
- Look at the big picture: ask yourself where you want your business to be in a few years. It could be that you want to expand to a new location or retire early, or perhaps you wish you could have your spouse join you in the business full-time!
- Choose long-term marketing goals that will help you get to that point. We go over these in part 2 of this series.
- Choose short-term marketing goals to support your long-term goals.
Example Marketing Goals: Short-Term
Short-term marketing goals can be reached within a few months, a few weeks or even just a few days. Your short-term goals should bring you some quick successes that will help pave the way towards your long-term goals that will take somewhere from a few months to years to achieve. Essentially, your short-term goals are there to support your long-term goals, whether it is by bringing in revenue or building your brand.
Here are some examples of the most common short-term marketing goals. Where does your business fit?
Increasing website traffic is a pretty common goal in the digital age. Set weekly, monthly or yearly goals for the increase you’d like to see. For example, a 10-15% increase in traffic each month, or 40-45% increase by mid-year, and so forth. Google Analytics is a free tool that every business owner should be using to measure traffic and keep track of numbers and growth on their website. We believe all businesses require a digital presence. If you don’t have a website yet (or don’t have a good quality website), before you start thinking about traffic, set goals on how you can improve your online presence. If you don’t want to invest in a new website, ask us about the power of landing pages.
Getting viewers to convert to customers is the end goal in any sales or lead-driven business. If raising conversions is your marketing goal, there are a number of techniques that can be employed. For example, lead magnets, pay-per-click (PPC) campaigns such as Google Ads campaigns, remarketing campaigns and more. First decide on the revenue increase you require, so you can determine how aggressive your strategy needs to be.
What is a lead magnet?
A lead magnet is a marketing strategy where you offer something for free (for example a discount code to your online store or a free consultation for a project) in exchange for an e-mail address. Then, the e-mail addresses collected will be put on your business’ mailing list to receive newsletters or other marketing materials. Lead magnets are a great way of marketing to an audience that has already showed interest in your services and provided their e-mail addresses to you voluntarily.
What are remarketing campaigns?
Remarketing campaigns show ads to a targeted audience of people who have already visited your website. Most common remarketing platforms are Facebook and Google. Remarketing campaigns are a cost-effective form of marketing, as the audience has already expressed an interest in what your business offers.
Creating a community may seem like the least urgent marketing goal but harnessing your very own band of loyal ambassadors can be a priceless asset for your business – and one of the most successful marketing tactics in the social media world. Try boosting your presence on social media by engaging with your followers on a regular basis. For example, try decreasing the time it takes to respond to a message or incentivising your followers to share your brand’s offers to their friends and family. Once your community has begun to grow and engage with you, you will be able to make use of user-generated content, saving you time on your marketing efforts!
What is user generated content?
User generated content (UGC) is media content created by consumers or end-users of a product or service. Typically, this will be content shared on social media, for example images, videos, blogs or reviews. The great thing about UGC is that in the eyes of consumers it acts as another consumer vouching for your business and is therefore perceived more trustworthy than marketing materials coming directly from the business itself.
It’s important to focus on growing your own subscriber list too, as we don’t own Facebook or other social platforms. A Lead Magnet can help here. Ensure your EDM (Electronic Direct Mail) strategy suits your audience and offers them valuable messaging. For example, you could introduce special subscriber-only discounts or informative e-mails that don’t always put on a hard-sell. Decide how you want to use e-mail marketing, then come up with relevant goals from there. Get in touch to ask us about how to put together a successful EDM strategy.
Now, head to Part Two where we discuss long-term digital marketing goals to complement your short-term strategies!