While you may have marketing goals, you may not yet have marketing objectives. Marketing objectives allow you to get much more specific about what you want from your Young Living business, and how to make it happen.
Marketing goals are usually broad, top-level goals which show how your business can use digital channels to scale. They describe how you can use digital marketing to grow sales, save money, and communicate with your audience.
Your objectives are specific targets for digital marketing. They use the SMART goal setting system to track your business performance against your targets.
Read on to learn how you can use marketing objectives to grow your business.
How to Create Strong Marketing Objectives
Is your business day dreaming? Maybe you’re highly engaged with a digital marketing campaign, but you haven’t yet to determine how to use that campaign to benefit all aspects of your business?
It’s common for growing businesses to drive their objectives by focusing on superficial metrics. But if you’re aiming to move your business forward, you need to dive deeper into the overall impact of your digital marketing campaign.
That means that while you’re creating strong objectives and you establish KPIs (Key Performance Indicators). These allow you to track what’s working and what isn’t, and reveal how your digital marketing strategy is impacting your bottom line.
Understanding SMART Goal Setting
When you set your marketing objectives, you’re setting many different goals. These include how many people you want your service, product, or content to convert or reach.
SMART stands for:
Your marketing objectives should be clearly defined. Instead of “I want my site to get more traffic”, it should be “I want 3000 more blog views next month.”
How will you know when you’ve achieved a marketing objective? It needs to be measurable, and whenever possible, numeric. Instead of “I’d like more brand engagement on my Young Living blog”, it should be “I want to increase my blog traffic by 25%.”
At first glance, these two things may seem contradictory. But it is possible for you to set objectives that are both achievable and aspirational.
The goal is to think of achievements that are possible, but also require you and your team to push yourselves and work hard to achieve a little more than you have previously.
Why are you setting these objectives? How will they help you grow your business? It’s important that your goals are relevant to the results you want.
They also need to be realistic. Take a good look at both your resources and any obstacles preventing you from reaching your objectives. For example, it’s probably unrealistic to expect that you’ll increase your blog traffic a few days before a major holiday unless you’re planning a massive sale.
You need to be working towards a defined end point, and not just “any point” in the future. Instead, set your objectives with a date in mind, like the end of the financial year.
Define Your Strategy
In order to create SMART objectives, you need to define a successful strategy. This includes several key pieces of information:
This is a snapshot of your current situation. List your weaknesses, strengths, threats, and opportunities. Think about your competitive advantage, and how the Young Living product is superior to other products.
Consider any weaknesses you have in your business, and how they could impact you in the future.
It’s crucial that you have your target audience clearly defined. Otherwise, it’s impossible to develop a marketing strategy specifically for your potential customers.
One great way to do this is through the use of buyer personas. This is where you take all the information you have about your customers and turn it into a composition of your ideal customers. Give this person a name and create any content with that specific person in mind.
Your Current Strategy
What outlets and methods have you been using to get your products in front of the right people? Are you using social media? If so, which channels? How can you improve this strategy in the future?
Every business (no matter how large or small), must have a marketing budget. You should ideally be dedicating a percentage of your gross sales each month towards your budget.
Even if you’re just getting started, marketing is an essential part of business success.
Write Down Your Objectives
Often, your objectives and goals for your business are simply floating around in your head. Sure, you may be committed to them, but it’s easy to lose track of them when you haven’t written them down.
You’re 42% more likely to achieve your marketing objectives if you write them down. That could be the difference between huge success and mediocrity in your business.
Take an hour or two and begin writing down your goals. Ask yourself if they’re specific, measurable, achievable, realistic, and time-bound as you go.
Make sure that these are objectives you’re excited about. And then put them somewhere where you’ll see them every day. Start each day with reading your goals, and you’ll be much more likely to achieve them.
Measure Your Objectives
Once you’ve set specific marketing objectives, you need to consider how you’ll measure them. Google Analytics is one way to effectively measure whether or not you’re meeting your marketing objectives.
One good way to do this is by using the Google Analytics Goal Tracking tool. This allows you to see your conversion rates across different time periods.
Here’s how you can set up goals in Google Analytics:
- Click Admin
- Click Goals
- Click the red “Add new goal” button
- Name your goal
- Click the blue “Continue” Button
- Enter the ending of the URL you’re aiming to track in the box which says “Goal details”
- Click the gray box next to the link box and change it to “Begins With”
- Press Save
This will allow you to track many different things, including email sign-ups, conversions, and more.
What are some of your marketing objectives? Leave a comment below, or get in touch with any questions.