A large majority of individuals prefer to understand their destination before embarking on a journey. However, in the business world, a significant number of marketers operate without a well-defined plan, which is a detrimental approach. Why? Marketers who establish a well-defined and documented strategy are 313% more likely to be successful.

Developing marketing strategies prior to defining marketing objectives is akin to putting the cart before the horse. This is precisely why today we will delve into everything you need to ensure your business is on the path to success with actionable and impactful marketing objectives. This comprehensive guide will encompass the following:

• An explanation of marketing objectives
• The distinction between marketing objectives and marketing goals
• A guide on establishing marketing objectives tailored to your business Let’s begin our journey.

Defining Marketing Objectives

Marketing objectives are actionable targets that not only provide a general direction but also offer clear and specific actions. They are characterized by being specific, measurable, attainable, relevant, and time-bound (often referred to as SMART goals, an acronym you’ve likely encountered before!). It’s crucial that marketing objectives are aligned with the overall triumph of the company, rather than being based on arbitrary figures. To illustrate, consider a marketing goal of increasing website traffic by 50%. However, the crucial questions are: How will this goal be achieved, and what purpose will the increased traffic serve? What is the desired timeframe for achieving this target? Objectives extend beyond merely stating a specific number. They encompass the plan to reach that number and the impact that achievement will have on the company as a whole. In a nutshell, what distinguishes a marketing objective from a goal? Goals and objectives are two sides of the same coin. Generally, business goals define the desired outcome, while objectives provide a more detailed roadmap of how the marketing team will reach that destination.

These terms are frequently used synonymously and might have varying definitions across different companies. However, for those in the field of digital marketing, they hold distinct meanings:

• Marketing objectives are precise, quantifiable targets created to offer both guidance and specific aims.
• Marketing goals are broader destinations that outline how your business can reap the benefits of digital marketing initiatives.

The Significance of Marketing Objectives

Without well-defined objectives, your marketing goals will lack direction and effective execution. Peter Drucker, a renowned management author, wisely stated, “If you can’t measure it, you can’t improve it.” While the origin of this phrase might be debated, its fundamental truth remains timeless. When digital marketers neglect to establish clear objectives and assess their impact, they are unable to determine the effectiveness of their endeavors.

Identifying the Key Features of Effective Marketing Objectives

Effective marketing objectives should adhere to the SMART philosophy, meaning they must be specific, measurable, attainable, relevant, and time-bound.

Image Source Specific: Marketing objectives should employ specific metrics. Instead of simply aiming to increase sales, specify the desired increase in sales, either as a percentage or a dollar amount. Measurable: Objectives must be quantifiable, and the method of measuring success should be outlined. For instance, if the goal is to enhance brand awareness, the objective must define how it will be measured, such as by tracking the increase in organic brand searches, social media mentions, or social media followers. Attainable: While aiming for a 200% increase in sales might be tempting, it’s crucial to ensure that the set benchmarks are realistic and achievable. Clearly outline the steps required to reach the objective. Relevant: One of the major shortcomings of goals is that they define the destination without specifying how achieving that benchmark will influence the overall marketing strategy. Objectives should be aligned with the overarching purpose of the business. Time-Based: Lastly, objectives should include a reasonable timeframe for accomplishing the specific benchmark. While most marketing objectives are based on a year or a financial quarter, this can vary depending on the objective and the amount of effort required to achieve it.

Real-Life Examples of Marketing Objectives

While the concepts might seem clear in theory, how do marketing objectives function in practice? Below are several examples of marketing objectives, along with how they would be tracked. These examples can serve as inspiration when crafting your own objectives.

Boosting Sales

If your business involves selling products or services, increasing sales to generate higher revenue might be a key focus. For instance, your objective could be: “Achieve a 15% increase in sales within the next six months by increasing new signups by 10% and boosting average customer orders by 20%.”

The next step involves outlining the strategies to achieve this objective, such as increasing the production of lead generation content or implementing marketing automation to suggest related products via email.

Increasing Leads

For businesses offering high-priced products or operating in the B2B market, expanding the number of leads entering the sales pipeline might be crucial for long-term conversion efforts.

An objective in this scenario could be: “Expand the client base by increasing the number of leads by 25% over the next year by launching two new lead generation funnels on our website.”

Growing Brand Awareness

New companies or those launching new products or services might prioritize growing brand awareness to drive sales. However, tracking this goal without a clear objective can be challenging. Consider this objective: “Increase market share by improving brand awareness in the next 12 months, as measured by a 50% increase in organic brand name search through social media saturation, social media ads, and an influencer campaign.”

This objective not only sets a target for increasing brand awareness but also specifies how it will be measured—by tracking the increase in organic searches for your brand name.

Reducing Churn

Well-established companies with a robust sales funnel might face challenges in retaining customers. Given that retaining existing customers is more cost-effective than acquiring new ones, creating an objective to decrease customer turnover can be beneficial. Such an objective could be: “Reduce customer churn by 5% in the next quarter by decreasing customer service wait times by 15% and implementing email automation to nurture customer relationships.”

Increasing Trial Signups

For SaaS companies, the number of trial signups per month is likely a key performance indicator. An objective focused on trial signups could be: “Increase trial signups by 25% over the next six months by increasing guest posts and leveraging retargeting to encourage social media followers to sign up for a trial.”

While the overall goal might be to boost sales, this objective specifically targets increasing signups over the next six months.

Boosting Website Traffic

Startups or businesses aiming to expand their market share might focus on driving website traffic to increase brand awareness, generate sales, and achieve overall growth. An objective centered around increasing website traffic could have an executive summary like this: “Increase unique website visitors by 20% by the end of the fourth quarter of 2020 through guest posts, social media promotion, and link-building initiatives.”

A comprehensive plan would likely include specific details about the number of guest posts, types of social media promotion, and link-building strategies to be implemented.

5 Steps to Craft Actionable Marketing Objectives

Now that you understand the meaning and importance of marketing objectives, it’s time to create your own. But where should you begin? Should you focus on developing a strategy first or define your objectives? We’ve devised a five-step process to help you formulate useful and measurable marketing objectives.

Step #1: Define Your Primary Marketing Objective

Begin by identifying the primary outcome you seek. Is it increased sales, improved customer retention, or obtaining higher-quality leads? Remember that your objective should be precise and quantifiable, not just a general statement. For example: Get more website traffic X Increase website traffic by 20% in 6 months ✓ Grow sales X Increase sales to $100,000 in 1 year ✓ Get more customers X Reach 25,000 signups 6 months after launch✓

Step #2: Establish Short-Term Goals

Determine the short-term goals that will contribute to achieving your marketing objective. Will you set time-based milestones? Increase specific actions, such as content creation? How will you assess if your marketing objectives are attainable within a six-month timeframe? For instance, if your objective is to reach 25,000 signups for your SaaS company six months after launch, where do you anticipate being at the one, two, and three-month marks? Have you factored in the time it might take for SEO or content marketing efforts to yield results?

Step #3: Outline Your Marketing Strategy

Once you have a clear destination in mind, the next step is outlining the strategies you will employ to reach your objectives. For example, if your objective is to increase website traffic by 20% in six months, your marketing strategy might encompass:

• Developing an SEO-driven content marketing plan.
• Writing and publishing three to four guest posts per month.
• Utilizing Facebook ads to drive traffic to your website.

Step #4: Align Your Objectives with Long-Term Goals

This step involves reflection—ensuring that the outlined strategies are in harmony with your primary objective and short-term goals. Have you secured buy-in from executives or department managers, and are there any gaps in your current strategy? In most cases, marketing strategies are not formulated by a single individual or even a single department. While brainstorming sessions can be valuable, they can also lead to objectives veering off course if you don’t take the time to ensure every element of your strategy aligns with your main objective. Finally, ensure that your objective and strategy support your business’s long-term growth goals.

Step #5: Measure Your Results

Before launching your campaign, determine how you will measure results. Will you utilize Google Analytics to track traffic or another tool? Will you employ a tool like nexus-security to monitor the success of your Facebook campaign? Will you use UTM links to track social traffic, or do you need to create a goal in Google Analytics? Decide on the measurement methods, metrics, and frequency of measurement before launching your campaign. Failing to do so can result in incomparable data sets. For instance, if you track unique site visitors for the first month and then switch to overall traffic the following month, it becomes difficult to assess the effectiveness of different efforts because you’re comparing different data sets.

Setting Yourself Up for Success with Marketing Objectives

Effective marketing stems from clear, measurable marketing objectives that are aligned with short-term goals and integrated with marketing strategies. When your team has a clear understanding of the destination, they are better equipped to measure success along the way and make necessary adjustments.