Marketing by Goals

It is important when looking to achieve success in business that you outline targets and have a strategy to meet these targets. Marketing is one of the most crucial aspects of success in business and marketing by goals is a good way to achieve business success.

The first step is to identify the goals. What do you want to achieve? Marketing by goals strategies can have a variety of measures of marketing success. Do you want to simply increase revenue or do you want to increase market share? Will you do this by spreading product awareness and focusing on lead generation, or by targeting existing customers with a new range of products? Of course you can have many goals, or one larger goal such as lead generation can have many sub goals to achieve the overall aim.

Once the goals are identified a suitable strategy must be used to achieve them. Will you be using marketing online? Will it be an expensive targeted campaign, a wider reaching approach or a cheaper social media method? There are also many factors in the marketing environment, both internally and externally to consider. A thorough environmental scan is important even when marketing online as websites audiences will vary significantly in terms of location and demographics.

Once a strategy is built the next step is to measure whether or not marketing by goals has achieved the objectives set as this will help you to learn how to make a more effective strategy next time. This requires a feedback loop of some kind where you can measure how effective the marketing has been. When marketing online this can be from using website analytics to measure click rates or web traffic or in a store it could be an increase in footfall. Marketing by goals strategies are dynamic, and should the measurement not indicate your target is being met, then the strategy should be adapted to be more effective.