Successful digital marketing strategies start with a good set of well-considered objectives.
I was listening to a podcast where Bob Hoffman quoted something like, “If you asked a client what their objectives are he would fire you immediately”. I get that, because it’s obvious, generate more… More leads, more enquiries, more sales, right. You don’t need to ask!
When it comes to setting objectives for your strategy it’s more than just generate more. It’s about clearly painting a picture of success for everyone involved in developing and implementing the strategy to see.
The "Why" Behind Your Digital Marketing Strategy
To kick off, ask yourself, why are we embarking on this digital marketing journey?
Understanding the "why" is the cornerstone of any successful strategy. It provides the motivation and clarity needed to align your efforts and make informed decisions.
Getting a background story that leads to the ambition defines the vision.
An example of why
We are experiencing negative growth and have identified a 25% increase in competitors over the last 18 months. 80% of our revenue is generated by 10% of our offerings. We need a new marketing strategy to efficiently broaden our revenue generating capacity and better utilise our productivity capability.
Setting SMART Goals
Smart goals are a tried and trusted methodology that works to a checklist for your goals - Specific, Measurable, Achievable, Relevant, and Time-bound (SMART).
You can be innovative, but retaining the SMART goal principles will leave you with a robust set of goals that everyone can get behind.
Specific
Vague goals lead to vague results. Instead of saying, "We want to increase website traffic," aim for something like, "We want to increase website traffic by 15% in the next quarter."
Measurable
Your goals should be quantifiable so you can track progress and assess performance.
Achievable
Set goals that are realistic and attainable given your resources and constraints. Don't aim for the moon if your budget is earthbound.
Relevant
Ensure your goals align with your overarching business objectives and the "why" behind your digital marketing strategy.
Time-bound
Set deadlines for your goals to create a sense of urgency and keep your team focused.
Goals are not just abstract ideas; they require action and accountability. Assign ownership of each goal to a specific team member or department. This ensures that someone is responsible for tracking progress, identifying obstacles, and providing regular feedback.
Regular meetings or reports should be scheduled to discuss goal progress and make necessary adjustments. Accountability fosters a sense of responsibility and drives results.
Crafting Your Vision of Success
What does success look like for your digital marketing strategy? Compose a concise statement that encapsulates your vision. This statement should be specific and measurable, capturing the essence of what you hope to achieve.
For example, your vision of success could be: "To go from an 80% revenue from 10% of offerings to 80% revenue from 20% of offerings with an overall uplift in revenue of 15% in 12 months."
This statement provides a clear direction for your team and serves as a benchmark for measuring progress.
Identifying Priorities
Priorities influence tactics and channels to explore, it's easy to get overwhelmed. To avoid spreading your resources too thin, identify your priorities at the outset so you can be laser focused when implanting the strategy.
Consider factors such as:
- Target Audience: Who are you trying to reach?
- Budget: What resources do you have available?
- Channel Effectiveness: Which channels have historically delivered the best results for your industry and target audience?
- Competitive Landscape: What are your competitors doing?
- Innovation: What can be done differently to effect change?
Conclusion
With a well-defined set of actionable objectives, you’ll be ready to continue building and shaping your strategy.
As your strategy develops don’t be afraid to go back and iterate your objectives or even start again if you feel you really must. Ideally, you’ll just be tweaking what you have and can maintain the momentum.
Check out this article for more about my 10 Point Digital Marketing Framework
I love to talk strategy, connect with me on LinkedIn and we can talk more - Stephen Caple
