Ok, are you ready for some footbaaallllll? Oops, wrong blog, lol! Are you ready to set some marketing objectives? Good, I am too.. this is where the fun begins!
(As we move forward, keep S.M.A.R.T, at the back of your mind as your begin to formulate your marketing objectives.)
Using set objectives will allow you to set benchmarks that can be used as destination points, on the path of long-term organizational success. There are normally three types of marketing plan objectives:
- • Marketing Objectives-The targets for managing key marketing activities and relationships. This includes maintaining and fostering relationships with current customers and suppliers, as well as developing relationships with new customers and increasing customer loyalty.
○ Example Marketing Objective:
§ Build customer relationships
§ Increase market share
§ Build brand awareness
• Financial Objectives-Shows how the marketing plan will help the organization meet its financial goals.
○ Example Financial Objectives:
§ Increase sales revenue by product or service
§ Return on investment
• Societal-Shows how the marketing plan will help the organization be socially responsible.
○ Example Societal Objectives:
§ Community outreach-Supporting community events
§ Charitable donations-Company employees participate in an annual United Way Campaign
§ Efficient operations-Company-wide recycling program, reduced waste
Using the above list, start thinking about which direction you want to take your organization or company, and what are the Marketing, Financial and Societal objectives that will help you achieve your long term goals. Just a little tip: society adores socially responsible organizations…I repeat, society adores socially responsible organizations.
Thank you for reading, I hope you are finding this information helpful as you either create or readjust your marketing plan. See you next post where we will talk about Marketing Support and the Mix!