Marketing objectives are functional objectives. They are what the business is trying to achieve through marketing mix activities during a specified time period.
Examples of marketing goals/objectives:.
Here the desired outcomes of your marketing strategy should be expressed in terms of, for example:
- The volume of expected sales.
- The value of sales to be gained.
- The target percentage market share to be gained.
- The percentage increase in product awareness or brand recognition.
- The increase in availability, profitability, revenue growth or customer satisfaction.
- An increase in customer loyalty.
- An expansion into defined new markets/segments.
- The successful launch (with KPIs) of a new product.
The purpose of your marketing objectives.
- As a way of defining success and ROI.
- To provide purpose and focus to your team, agencies and other suppliers.
- To provide a framework for co-ordination across the organisation.
Always try to include a target date for when the objective should be achieved.
To construct your marketing objectives:.
- Decide on your target market or target audience.
- Agree what marketing activities your objectives plan to focus on.
- Decide what you plan to optimise.
- Agree on your primary marketing objective.
- Then (as appropriate) break them down further into, for example:
Briefing the objectives - the practical application.
When briefing a supplier or agency:
- Review similar campaigns that successfully achieved this objective.
Agree how this was achieved, what can be learnt from each campaign and what could be improved upon.
- Decide how important it is to achieve any secondary objectives.
Campaigns with multiple objectives often fail to deliver.
- Be specific about when the KPI's evaluation data be available and who will supply it.