Setting Effective Marketing Goals
Posted by Ryan Nokes 7/9/09
To turn a corporate vision into something more than just a nice plaque on the wall, you must tie your marketing efforts to your bottom-line. This means everyone in your organization understands how their contributions help move the company forward, achieve goals, and increase profits.
Niche Marketing Strategies
Take a site like www.ellemenopea.com. They create vinyl wall art like this:
Let’s assume their vision is to become the leader in vinyl wall art and decals. That’s a big goal: to become the recognized authority in their field. Achieving this goal would no doubt bring much success, but if there is no action plan, then they might as well stencil their vision on their wall and then forget about it. They need to set clear marketing goals backed up by measurable marketing analytics in order to achieve their vision. Some potential goals to achieve their vision:
Drive Targeted Website Traffic
Ellemenopea may decide that one way to achieve their vision is to optimize their website and get to the top of Google or other search engines. This achieves three purposes simultaneously:
• Get noticed by people most interested in what they offer (non-intrusive marketing)
• Build brand awareness (recognized as authority by ranking highly)
• Increase chances of turning browsers into buyers
Build Brand Loyalty
Another way they might decide to become the leader in the field is to create valuable content for their customers. They may choose to blog and showcase examples of how to take a wall and turn it into art. They may run contests. They may give discounts for referrals. They may run classes. This does the following:
• They are recognized as the trusted source for wall art.
• They get people talking
• These people tell friends
• They post pictures on their own blogs
• They tweet about their satisfaction with Ellemenopea
Pretty soon, Ellemenopea has a whole cadre of brand evangelists who purchase repeatedly and invite their friends to do the same. Their success snowballs, and eventually their goal is in sight.
Gather Competitive Intelligence
Then, the Ellemenopea owners may analyze other websites offering similar services. They could look at the products or services offered. They might look for clear calls-to-action. Then they could determine underserved niches and develop a niche marketing strategy to capitalize on missed opportunities.
By driving targeted website traffic, building brand loyalty, and gathering competitive intelligence, Ellemenopea implements niche marketing strategies to achieve its vision of becoming the leader in their field.
We’ve now discussed setting your vision and linking it to actionable marketing goals. Next time we’ll talk about determining measurable critical success factors. See you then!