The Art of Setting your Marketing Goals

The art of goal setting is a mix of strategy, clarity and measurement. Goals are not just milestones; they are the very blueprint of success. Throughout my over decade long experience, I have navigated the tumultuous waters of marketing with this compass, driving growth and fostering high-performing teams through an unwavering commitment to clearly defined, measurable impactful goals.

Yet, it's astonishing to observe a landscape where numerous marketing leaders seem to be adrift, lacking the compass of clear goals. Some settle for the low-hanging fruit of lead and revenue targets, while others embark on ambiguous quests like creating a dozen landing pages with no clear strategy in sight. This section is your navigation chart through your course toward goal setting that not only illuminates the path but ensures every step taken is one of purpose and impact.

The Blueprint of Marketing Strategy
Before we dive into the nitty-gritty of goal setting, let's take a moment to understand the terrain. Goal setting is not a standalone endeavor; it's part of a larger expedition. It requires a solid foundation, a clear understanding of your landscape, and a focus on the destination. Some companies use OKRs to define goals. The most important thing is to define measurable goals. Otherwise, you are not capable to analyse the impact of your effort.

Laying the Groundwork

Running a marketing department without setting clear goals is akin to setting sail without a compass. The cornerstone of any marketing strategy lies in what I call its foundation which is defined by:

• Perceptions & Positioning: What tales do you wish your brand to tell? What stories should echo in the minds and halls of your audience? This is about crafting a narrative that's not only compelling but uniquely yours.

• Audience Identification: Who are you speaking to? Understanding your audience is paramount, for a message that resonates with one may fall on deaf ears with another. So define your ICP clearly.

• Funnel Mapping & KPIs: Your marketing funnel should be as nuanced as the palette of a master painter, with each stage clearly defined and measured. Don’t limit yourself to MQLs, Opportunities and closed deals.

• Growth Channels Analysis: You should know what channels might work and what to test. Construct a testing framework, then categorize your channels and tactics to identify potential game changer opportunities.

But... why do we set goals

With the groundwork laid, the compass of goal setting becomes your guide. Goals are your north stars by which you navigate, ensuring that every effort is aligned with your strategic vision. The length by which you plan your goals depend on the size of the company but even for the smallest structures you should plan quaterly. Goals will help you always keep the answers to these questions in your mind:

• What should be prioritized?

• How do team align and scope work?

• How do teams communicate across the rest of the company?

• What’s the hiring plan?

• How does the company grow?

The 3 Pillars of Marketing Goals
In the realm of marketing, goals can be classified into 3 pillars, each essential in navigating the path to growth and impact:

• Metrics/KPI Goals: Make sure the metrics are linked to key results and not means. That’s the difference between hit 10% follower growth in the next 90 days and post 30 instagram stories.

• Project Goals: These are about completing initiatives that have a tangible impact, whether immediately felt or sowing the seeds for future harvests.

• Ops Goals: The foundation upon which scalability and efficiency are built. This is about putting the processes, tools, and infrastructure in place to navigate help the organisation scale.

How to set up your marketing goals
Begins with the fundamental step of monitoring a basic metric, regardless of its sophistication or long-term viability. For instance, one might initially focus on tracking blog traffic, later expanding this to include metrics on engagement and conversion rates per post. Similarly, one might start by monitoring form completions, progressing to measure Marketing Qualified Leads (MQLs) once a lead scoring system is implemented.

It's crucial for marketing metrics to be accompanied by secondary goals, aimed at enhancing efficiency and scalability. Simply aiming to increase leads from 200 to 250 without improving lead quality or acquisition efficiency lacks incentive for optimization. Therefore, it's advisable to establish numerical targets along with conversion rate percentages for subsequent funnel stages, such as maintaining a specific conversion rate from lead to MQL or managing web traffic growth within a set budget.

There are two primary methodologies for setting overarching metric objectives: The Top-Down approach, which reverse-engineers from revenue targets, requiring collaboration with finance and sales; and the Bottom-Up approach, which leverages historical data on funnel performance to project future achievements.

When defining goals, it's imperative to delve into the 'why' behind each objective, as this often reveals a more meaningful target. For instance, instead of a simplistic goal like "Post 30 Instagram stories," consider the underlying purpose, such as driving followers or generating leads, to establish more impactful objectives.

Goal Setting Process and Templates:

https://docs.google.com/spreadsheets/d/1no71RE34IVqzXUF6nQSaQXoZ0MwNjEOV82X5AQcGNDM/edit#gid=0

If an established goal-setting framework exists within your organization, it may not be necessary to adopt a new process. However, for companies lacking a structured approach or focused solely on revenue, developing a systematic process for setting marketing goals is beneficial. This includes setting a regular schedule for establishing goals, sharing them with relevant teams, and reviewing progress. Opt for quarterly goals, or semi-annual if more appropriate, ensuring to involve other departments in the process. Break down these goals into monthly milestones, monitoring progress through a color-coded system and providing regular updates.

Each quarterly objective should encompass a summary detailing the responsible party, key collaborators, monthly milestones, and its alignment with the annual objective. A clear indicator of progress status, such as a color-coded system, enhances transparency and accountability.

Ultimately, the essence of goal setting lies in its application: Every task, campaign, content piece, or experiment should align with and contribute towards achieving these goals, guided by a structured framework. This practice is crucial for marketing leaders to ensure their teams contribute significantly to growth and brand development, and founders should prioritize goal-setting competence in their marketing leadership.

For the full content: https://flywheeleffect.substack.com/p/set-your-marketing-goals