Where are you now and where do you want to be?
The challenges and problems your business faces
are the best guide to setting objectives for
your marketing plan.
Think through the questions that follow to
determine the needs that are most critical to
your business success. Then clearly list in your
plan a series of specific, measurable
objectives that will move you closer to your
goals. At regular intervals in the future you
can test the success of your marketing strategy
by tracking the progress of each objective.
Are you just starting a business or launching a
new product line? Are you trying to overcome
problems with distribution, quality or customer
service? Do you need to increase sales, generate
higher profits, capture a larger market share,
build brand awareness, create a more positive
image for your company?
Perhaps your research indicates that only about
40 percent of your target market knows your
business exists. Your objective might be to
increase awareness to 60 percent in a year.
Or maybe you’ve found that your customers now
spend an average of $25 on each visit to your
store, so you set a goal of increasing that
average purchase to $30 within six months.
Your objectives should be achievable but should
also represent a bit of a stretch. Make sure
employees and associates know which objectives
are most critical so they can do their part.