Monday, 13 June 2016

What's your marketing objective?

#1.  What does the business need to achieve?

Where do I start?
- Increased turnover?
- More customers?
- Increased profit?
- Product diversification?

Whatever your business objective, your marketing objective should filter down from it so you can realistically achieve them both.

To make your marketing objectives more achievable, make sure they're SMART!

S Specific
Be specific in what you're going to do. 
"I'm going to promote our new set of golf clubs to every golf enthusiast in Hampshire"

M Measurable
Build in some way of measuring responses so you can see how effective your marketing initiative is
"Customers will only be able to purchase the new set of golf clubs by clicking the link to a specially designed web page, which will only be promoted in this campaign"

A Achievable
Make sure it's a target you're likely to be able to achieve.
"I've set aside a budget of £XXXX for my marketing activity and expect to make XXX number of sales"

R Realistic
Make sure your anticipated response is a realistic one otherwise you'll only be disappointed and far better to outdo your own target.
"We want to get a 5% response rate with an 75% conversion to sale.

T Timely
Set yourself a timeframe so you have a deadline to work towards, go back and measure actual results versus anticipated.
"The campaign will begin in April and be spread over a 12 week period, through the Spring as golfers take to their greens, we'll review results on an ongoing basis but analyse results in June"

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