Marketing Objectives

Marketing objectives are often called SMART goals and tied to the overall success of the company. They create a guideline and goal for the company to reach towards through its mission, values, and legal and ethical implications. However, there are differences between goals and marketing objectives. Goals consist of the endpoint in a business. While objectives represent how a marketing team will reach that goal. It was found that when a marketer plans objectives in their company, they were 313% likely to have success (Smith, 2020). Marketing objectives provide the steps To growing not only the company but also the brand. It provides a standing point in reaching the mission of the business and brings the mission to life. Each step in the objectives allows for the company to find areas of opportunity and growth. This also provides a foundation for SWOT analysis and tracking the growth effectively to the end goal.

Companies can use marketing objectives in different ways. They can consist of broad objectives like increasing brand awareness or increasing revenue. While these can be a wide room of opportunity companies can also narrow these down to more specific objectives. For instance, in increasing brand awareness their objective may be to increase social media presence and create a digital footprint based on their target audience desires. It could mean that the company is also researching and reaching deeper into the psychographics and behaviors of the target market in order to grow their brand awareness through enhanced marketing.

In finding the objectives through various marketing activities it’s crucial to ensure that the marketing activities, objective, goal, and mission all align. To do so you start at the marketing activity and work your way back to ensure they all tied together. For example, creating a campaign with a hashtag and post directly on the company’s social media platform can relate to the marketing objective of building brand awareness, to the goal of being a top 25 company recognized online, and finally to the mission of the company in regard to the consumer. Lastly, in the development of objectives, it’s vital that possible legal and ethical issues be researched and analyzed within each marketing activity. This will ensure and avoid possible financial setbacks, damage to the brand, and other legal implications. Possible issues can stem from simply wording a campaign incorrectly, even with good intentions, down to false advertising, and many more. It will be important in understanding not only the law but the viewpoint of the consumer and understanding the company’s product appropriately.

References:

Smith, B. (June 15, 2020). Everything You Need to Know About Marketing Objectives Retrieved from Word Stream: https://www.wordstream.com/blog/ws/2020/06/15/marketing-objectives