A lot of today's digital entrepreneurs are really good at thinking big. Of course, a macro focus is needed to be successful, especially in today's global marketplace. While many of these remarkable business people are able to paint an appealing big picture, their strength might not be in carefully representing all of the finer details. This is where a team member with different skill sets, or even an outside marketing firm, can help to complete the image by identifying the importance of goals and objectives, and then making them function to positively impact the bottom line.
Important Aspects of Marketing Goals and Objectives
It is not unusual for entrepreneurs, especially new ones, to incredibly enthusiastic about their business idea or product. This enthusiasm is another necessary ingredient for success. However, if the service or product on offer is of interest only to a limited consumer base, driving as much generic traffic to the website as possible is not a good goal. It doesn't matter if 50,000 people see a new app for tracking blood sugar if only 500 of them have diabetes or other blood-glucose related disorders.
Therefore, it is necessary to ask a few questions about which goals and objectives are important before planning how to achieve them.
- What is the product? Is it a service, or is it a tangible item? Will profit margins be built on unique transactions or repeat business?
- Who is the customer for the product? Is it something that is of general interest to a large segment of the population (health and wellness) or something that will interest only a niche consumer (a better scuba diving mask)?
- Is the product or service geography-specific? Getting people who live in Jamaica to click on a Caribbean Vacation website is pretty useless.
Once the "who" and "where" of marketing have been defined a bit more closely, it is possible to start thinking of some strategies to drive the right customers to the entrepreneur's site. Making this traffic quantifiable and measurable will then be the next step in figuring out the purpose of marketing objectives.