When looking at marketing it is easy to calculate metrics. Analytical data can be compiled to display the effectiveness of your marketing from everything to sales across seasons, time of day, demographic, and the like. These are all measurable, often being charted by quotas and KPIs. However, deciding that quota is often difficult to accomplish. Here we have compiled five marketing goals that successful teams aim for.
However, more critical to the written goal itself is the way in which it is approached. Below are three aspects meant to be partnered with your goal for maximum potency upon integration. Specifically, three key metrics exist to measure them by. Think of these as the hypothetical “x-axis” on your journey to cultivate the best goals specific to you and your team.
- Time Related
- Funding Related
- Number Related
These are for marketing metrics heavily rooted in time-centered goals. Quota is probably the most iconic term here. I want you to have this many closes, or this many metrics reached within this allotted time frame.
These are generally good based on performance across a company or with numbers from across the industry, for example, the current industry trends and standards. However, there is the downside of necessitating the timeline being allocated correctly and furthermore relying on the metric to be set up accurately to whatever stands as the current market truths.
Basically, if the individual setting the goal has an incorrect grasp of the current climate of the market the metric will be incorrect and fallible. However, in cases like this, nearly all goals measure up on a time basis to some extent.
This method works two-fold. Funding coming in: How much do we want to get coming in. Or, alternatively, how much do I have to spend to hit the allotted metric? However, the latter suffers from the same issue as ‘time-related’ metrics – ensuring you have a realistic view of the market. This focuses on the optimization of how to best use funding. Like the time metric again this spans across nearly all goal-based bases. However, the existence of this metric establishment sums up quite literally, as “bang for the buck.”
Yet, the metric based on working the job until the goal is met offers its own unique boons and issues. It has the potential to work relentlessly or as needed, with the goal alone paramount it flows and crashes like water. However, it can be placated and just as easily fall into the wayward realm of doldrum-like fundraising if left in isolation.
This is much like the previous two categories of marketing goals successful teams aim for – with one distinct twist. The measurement is against the numbers themselves. This could be embodied by competing against teammates’ metrics, or against your metrics from the last quarter. Fighting the industry standard for supremacy. Or something even further beyond. This implements facets of both Time and Funding related metrics as the initial numbers likely pointed away from ideals based on those goals.
Understand that the most successful marketing goals include a combination of these facets. Here are five examples of successful marketing goals utilizing these metrics:
- Generate Leads Through Organic Methods
- Generate Higher ROI Through Inorganic Referral
- Produce a Greater Efficiency within Workflow/Pipeline
- Establish Brand Authority and Awareness
- Increase Customer Lifetime Value and Decrease Time to Value
By utilizing these you can streamline your deliverables and processes in your pipeline to produce clean results quickly. By having the goal and responsive subtasks outlined, keeping your objective focused will become much easier throughout the company. This will shave down the timeline and create greater efficiency and time to value which will work to accomplish the objective with less lateral loss.