No matter if you are going to promote a new product or develop an old one, setting clear market objectives is a crucial point.
Numerous examples can be given here, but to create a successful marketing plan you should set SMART goals.
Setting your goals in a SMART way, allows you to make them truly achievable!
On this page:
- What are market objectives? Definition and purpose.
- What are SMART goals and why you need them?
- 27 market objectives examples (including online, social media, customer satisfaction, sales increase, brand awareness goals and etc.)
- An infographic in PDF for free download.
What are SMART Market Objectives?
Marketing objectives have a crucial role in the overall marketing strategy and planning.
First, let’s see the definition of market objectives:
Marketing objectives are goals that should be achieved when promoting products or services to potential consumers. These goals have to be accomplished in a given period of time.
These goals can relate to the amount of expected income, desired market share, increasing the level of product awareness, improving digital customer experience, or growth objectives.
Setting market goals is awesome. They help you stay more focused and being more productive and creative. Or, they can help you achieve your goal to find a job in marketing.
However, the objectives can be absolutely pointless if they’re not based on reality. This is where SMART goals come to help.
SMART Marketing Approach
Whatever the goal is, you should apply the widely used SMART approach.
Before show examples of marketing objectives, let’s explain what SMART way is all about.
SMART market objectives open the door of success because they are specific, measurable, attainable, realistic, and time-based. And these are the elements you need in order to achieve the desired outcomes.
The acronym SMART has some variations with a minor difference. They accommodate a more comprehensive definition of goal setting:
S – Specific (stretching, significant, sensible)
This point answers the question of what exactly do you want to achieve? Your goals must be clear to everyone involved with them. You should be as specific as you can when defining your market objectives.
Questions you may ask yourself to help you be more specific:
- What exactly do I want to achieve?
- With whom?
M – Measurable (meaningful, motivational)
Measurable goals mean that you express them in a numeric or descriptive aspect that defines quality, quantity, cost, etc. Can you create a metric for your market goals?
It’s crucial to have measurable objectives in order to track your progress and stay motivated.
A measurable goal should relate to questions such as:
- How many?
- How much?
- How will you know when the objective is accomplished?
A – Attainable (agreed upon, achievable, acceptable, action-oriented)
Attainable means you need to investigate if the goal really is acceptable and possible.
You have to consider the effort, time, and costs that the goal will take. How do these costs compare to the profits? Work toward a goal that is possible.
Also, set an agreement with the marketing manager what the goals should be. These will make them even more attainable.
Your achievable goal should answer questions like:
- How can I accomplish the goal?
- How acceptable is the goal, based on particular metrics?
R – Relevant (rewarding, results-oriented, realistic)
A relevant goal means you have to be sure that your objective is important to you and it is also aligned with other relevant market objectives.
Here are some important questions you should know the answer in order to be your goal relevant:
- Does this match your needs?
- Does this fit your other needs?
- Are you the right person to reach this goal?
T – Time-bound (time-based, timely, tangible, trackable)
We all know that time is money! Deadlines are what make you switch to action. So, set deadlines for your goals. Keep the timeline flexible and realistic.
A time-bound goal should answer questions such as:
- What is the target date for completion?
- Do you have enough time to achieve the goal?
Marketing Objectives Examples
Let’s see some marketing objectives examples
Examples of Poorly Defined Marketing Objectives:
- I want more website visitors.
- I want a higher level of brand awareness.
- I want a better brand reputation.
These goals are set by people who are not marketing experts. They are easy to say but are defined in a non-professional way.
SMART Marketing Objectives Examples
1. Our business needs 10,000 website visitors, within the next 6-months from our inbound marketing activities in order to achieve revenue of $200,000 from inbound and content marketing.
2. We would like to increase the number of inquiries that come from our marketing communications efforts by 15% by the end of October this year.
3. We need to raise up brand awareness in the second half of 2017 by increasing the number of recommending influencers from 5 to 12.
4. We want to increase our market share from 20 to 30% for Product A within 2 years.
5. We want to increase the percentage of customers who rate our live chat customer support as “excellent” from 60% to 80% by providing education lessons to our chat support team within the next 6 months.
6. We aim to increase our website leads by 30% via Social Media Marketing and Blogging by the end of October 2017.
7. To increase followers of our Facebook company page to 1000 by the end of the 2nd quarter in 2017 through increasing frequency of posting by 50% and optimizing targeting.
8. To reach 4,000 downloads of our e-book “ABC” through Facebook advertising by the end of November 2017.
9. To increase our email subscriber list by 30 percent within 3 months by providing a new e-book for free download.
10. To improve the average customer satisfaction of our website by 15% (measured through marketing research surveys before and after redesign) by the end of the second half of 2017.
11. To acquire 100 new clients for our consulting services within 5 months by launching social media marketing campaigns.
12. In order to establish our company as an expert in the financial consulting area, we will write 100 blog posts (educating on different financial topics) on our website by writing 3-5 posts per week. These 100 posts will be completed in 10 months.
13. To achieve a rate of one lead per hundred website visits within 3 months through increased prominent and relevant CTA’s, and simplified lead forms.
14. To gain 2,000 Twitter followers in the next 4 months via publishing new content including blog posts, infographics, relevant articles, statistics.
15. Create brand awareness to our target segment (Woman ages 35 to 50) by exhibiting and participating in four upcoming community events (Marth 16th, April 12th, June 25th, and July 17th, 2018), and by passing out 300 samples of perfume and 250 samples of body lotion.
16. Attract 1000 new organic visitors to our website blog through writing helpful and educational blog posts, optimizing those posts for SEO best practices, and contribute to other posts. This should be done by the end of the first quarter.
17. To increase blog subscribers by 30% by October 30, 2017, through optimizing our top blog posts for subscriptions, offering free exclusive content to brand new subscribers, and adding smart subscribe CTAs to the blog, homepage, and “About” page.
18. To generate 400 marketing qualified leads (MQLs) over each quarter in 2018 through running inbound funnel campaigns.
19. To increase sales by 15% within 15 months by utilizing the power of the web and building customer relationships.
20. To the increase organic traffic of our website by 15% in the next three months by implementing white-hat SEO tactics.
21. To increase the average customer satisfaction score by 15% for the X product, by the end of 2017 by using live chat to offer superior customer support.
22. Double our website’s traffic within the next 10 months, by writing top quality blog posts that educate and provide solutions to our readers.
23. By 10th November, increase the sales by 12%, by creating innovative offers and promotions.
24. Increase sales revenue by 12% in Asian market territory by the end of 2017 by developing new 5 customer proposals aligned with the Asian market needs and characteristics.
25. Improve Customer Satisfaction scores by 15% by reducing caller wait time from 3 to 2 minutes by the end of the first quarter of 2018.
26. Hit an email open rate of 35% by September 30, 2017, with the help of personalization, list segmentation, and split testing.
27. Gain 120,000 page likes from our Facebook page in the next 3 months by implementing strategies with video, optimal timing, and tagging.
Download the following infographic in PDF for Free: SMART Goals Infographic