Regardless of your industry or business model, All marketing departments have one or more goals in front of them to achieve.. Generally, these goals can refer to further growth, an increase in sales or loyalty, as well as many other things. However, regardless of the purpose, there is a common element that is key to successfully fulfilling the mission of the project, the preparation and development of a.
And within it, of course, must be reflected the marketing objectives of the company.
Let’s remember, marketing is a fundamental tool for business development, even more so in the current ecosystem. And the creation of a marketing plan is an essential step to be able to pave the way for the company to follow in order to meet its goals.
The development of a marketing plan has different steps, such as:
- the analysis of the situation (both external and internal), where the is a key element
- definition of the target audience
- goal setting
- definition of strategies and policies to carry them out
- definition of the marketing mix
- scheduling of actions
- Economic budget
- evaluation of results
While each of these is important to successful plan formulation, goal setting is one that needs special attention. This is because if you do not correctly define the objectives to be met, even if you manage a perfect campaign, you will never be able to achieve the expected results.
Types of objectives of a marketing plan: qualitative and quantitative
When developing a marketing plan and defining its objectives, we must bear in mind the different types of objectives that exist. These will help us define what type of plan we are developing and how we will implement it later. The choice of types will largely depend on the motivation of the campaign And, as we mentioned at the beginning, it must be chosen carefully in order to achieve an effective marketing plan. The different types of objectives can be, from a general point of view, quantitative either qualitative.
- Having said that, the quantitative ones refer to the objectives that can be measured based on results and with concrete figures. They can be used to measure market share, penetration, profitability, repeat purchase, decrease in abandoned carts, , etc.
- Secondly, qualitative objectives represent important goals for understanding campaigns, these cannot be measured unlike the previous ones or they should be measured indirectly, through their repercussion in other areas of the company. This group includes aspects such as the branding performance of a business, market positioning, etc.
What the objectives of a marketing plan should be and how to make them come true
Starting from the types of objectives that we can find in a marketing plan, several questions arise. How should these goals be? What characteristics should they have? To answer them we can take the concept of which proposes that these should be: andspecific, measurable, achievable, relevant Y scheduled, if we translate them from English. Namely:
- A marketing objective should be as concrete as possible. For example, it would be wrong to set yourself the goal of “improving company results” or “increasing engagement”. The appropriate thing should be to refer to «increase sales in Spain in the year 2022», «decrease the operating costs of the marketing area in 2022», «increase the engagement measured in our Facebook channel».
- An objective must be measurable: that is, we must be able to calculate whether or not it has been achieved. Continuing with the previous examples, we could talk about “increasing sales in Spain by 20% in 2022” or “increasing the engagement measured on our Facebook channel according to the formula provided by Marketing4eCommerce by 25%”
- It must be attainable. Setting an unattainable goal will only lead to frustration and wasted time and resources.
- It must be relevant. Similarly, targeting something that isn’t really important to your team will only lead to oblivion.
In addition to this distinction, we can also expect the objectives to have different approaches depending on the business need, which can be: strategic, tactical Y operative. This will allow us to better understand the functions that meet these goals. Whether they serve as commitment factors for the company, to achieve more efficient resource management within the office and campaigns, or simply in the allocation of resources.
In this way, the objectives must be set in an achievable way, controlling their fulfillment through the competent handling of the recovered information. Since this will allow you to react appropriately depending on the situation in which the marketing plan is presented and the interest that it arouses.
Image:
Stay informed of the most relevant news on our news channel
Facebook Comments
Disqus