What Are Marketing Objectives? (How-to Guide and Examples)
By Indeed Editorial Team
Updated September 29, 2022 | Published November 30, 2021
Updated September 29, 2022
Published November 30, 2021
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
Those who have heard of email marketing's overall effectiveness may wonder the answer to "What are marketing objectives?" Determining these objectives requires reflection on overall company goals. By knowing about marketing objectives, you can increase your sales and set realistic goals for your team. In this article, we discuss marketing objectives, provide you with information about SMART goals, discuss how to create marketing objectives, provide you with a guide for using KPIs for your objectives, and provide you with examples.
What are marketing objectives?
If you're a marketing professional, you may benefit from understanding the answer to the question, "What are marketing objectives?". Marketing objectives are specific goals established by a business or company that help them to promote their products and services to customers. Marketing objectives are an overall marketing strategy that helps to achieve organizational goals in a set period. These goals may include increasing sales by 13% in the next six months, improving consumer awareness of a new product or service, or increasing customer satisfaction.
What are SMART goals for marketing objectives?
SMART is an acronym for specific, measurable, achievable, realistic and time-specific. When setting objectives, marketing managers typically organize those objectives and determine the future success they expect for the team. The following components for each SMART goal can help you define and achieve logical marketing objectives:
Specific: Having a specific goal ensures that all team members work toward the same goals.
Measurable: Providing measurable goals ensures that the team has clarity regarding the goal. For example, you may want to increase productivity by 72%.
Achievable: Achievable goals ensure that your team has the skills required to achieve those goals.
Realistic: Realistic goals are those in which your team can accomplish with their current habits. For example, a team that wants to increase sales typically maintains their current workloads to realistically obtain objectives.
Time-specific: Having time-specific goals provide your team with deadlines that are realistic and that ensure the team completes their deadlines accordingly.
How to write marketing objectives
You typically want your marketing objectives to be both narrow and specific to ensure all team members have a holistic understanding of their goals. Narrow and specific goals also reduce the margin of error. Here are some steps to consider when developing your marketing objectives:
1. Record your sales goals
You may want to begin by considering which goals can help you achieve your sales and income. When doing so, consider writing your goals in either dollar amounts or percentages. For example, you can choose to achieve an extra $2 million per year in gross sales revenue. You may also choose to aim for a 20% increase in sales that is followed up by the strategy you plan to use to attain your organizational goals. The complete sales objective can state, Summer Company expects to increase sales revenue by 20% by entering a niche market we haven't explored.
2. Consider your market shares
You can achieve your market shares goals through increments. Consider where your team currently stands regarding this goal, and determine a realistic percentage and time period for your marketing objective. For example, We plan to increase our market share by 6% next year. This prompts your marketing team more than a goal that is open-ended or unachievable.
Related: Setting Goals to Improve Your Career
3. Decide how many customers you require
You may want to decide how many customers you require to accomplish your goals. You can begin by looking at the cost or size of an average purchase. For example, if your customers spend an average of $300 per transaction, you can consider how many more customers the company requires to achieve your overall sales goals.
4. Set price targets
Consider setting pricing targets for your marketing team to help you determine how you compare to your competitors. You may want to ensure that your product and services provide remain competitive to help you accomplish your overall goals. Your pricing targets take considerable time to develop. You may want to consider increasing your prices. For example, increasing prices by 10% per year may help you obtain your price objective.
5. Combine key objectives
Consider how you can summarize your key objectives by combining them to give you an accurate idea of how well the objectives function together. For example, a summary stating you want to lower prices by 15% and increase sales by 20% is counterproductive, as the two objectives don't function together. An effective summary might state something like the following: We plan to increase sales by $2 million. We aim to increase the number of customers by 15% and increase the purchase amounts by 10%. Samantha Co. plants to increase prices by 3% each year for the next five years.
How to use KPIs for marketing objectives
When you determine the right marketing objectives for your company, you may want to consider the best ways to measure your objectives. Consider using KPIs, also called key performance indicators, to track the progress of your team and goals. This may include the assigning of numbers, metrics, and overall deadlines, along with how these metrics contribute to your marketing objectives. Consider navigating the following KPIs:
1. Consider website metrics
If you use online marketing campaigns to accomplish your company's and team's goals, you may want to track website metrics. These metrics include the following components:
Sessions: The sessions inform you of the number of visitors who review your website.
Time on your website: This metric provides you with information about the amount of time visitors and viewers spent on your website.
Bounce rate: The bounce rate refers to the number of visitors who leave your page in a short amount of time, or after viewing your page, which indicates your visitor loses interest in the page.
Page views: Your page views refer to the number of pages viewed by website visitors.
2. Consider social media engagement
When using social media engagement, you may want to consider how your social media campaigns can help you accomplish your goals. The metrics on your social media accounts determine the overall success of your campaigns and whether you can obtain your goals. Here are the metrics to consider regarding your KPIs:
number of comments
number of shares
number of opt-ins
increase in followers
traffic from social media to the website
3. Consider lead generation
The lead generation you prioritize depends on your marketing objectives. For example, those who want to increase sales may want to consider how many units they sell. These metrics then determine whether you accomplish your sales goals.
number of leads
increase in leads
cost per lead
4. Use search engine optimization
If you want to increase your online visibility, you may want to develop your search engine optimization (SEO) strategy. It's important to track its overall performance. This helps to increase your ranking in search engines and increases the number of people who have access to your website.
Marketing objective examples
Several marketing objectives can help your company with its overall goals. Here are a few marketing objective examples to consider:
Example 1: Increased sales
When your business sells products or services, it's helpful to focus on how marketing can increase sales. This way, the money generated by your business or team increases continuously.
Example: Increase online and in-store sales by 9% within the next fiscal year.
Example 2: Grow brand awareness
Brand awareness is an important marketing objective to focus on if your brand's primary audience is small or limited. Expanding your reach can help to familiarize your brand and provide you with new customers.
Example: Increase customer satisfaction scores on five websites that our consumers frequent to assist with referrals.
Example 3: Increase leads
If you're interested in generating more leads because your company is lacking sales, or you aren't meeting specific objectives, you may want to improve your overall relationship with your customers. Consider how you can generate leads through calls-to-action or developing relevant content.
Example: Develop new methods of prospect conversions on the website to increase leads by 15%.
Example 4: Promote new products and services
If your business plans for the future include launching new products and services, then it may be helpful to promote new products and services to your marketing objectives. Consider doing this through email marketing campaigns.
Example: Promote new products so 2,000 units are sold 60 days after the product launch.
Example 5: Grow digital presence
If you haven't focused on online marketing, then it may be helpful to begin applying SEO principles to grow your presence on social media, search engines and other digital platforms.
Example: Create a new blog for our website and publish 15 SEO-friendly posts per month for a year to grow digital presence.
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