A look into how big brands set and achieve goals in order to enact marketing strategy and how it can work in your day to day to life.
Goals, Strategies, and Tactics.
How to distinguish them and leverage their benefit, and how they afftect marketing campaigns.
Random goals are unmeasurable and can hinder the message that you are trying to communicate to potential consumers. This also applies to personal goals as well; an example of this would be “I want to buy a house” This goal depending on your starting point is very vague, un measurable, has no set timeline and can feel unachievable. Business and especially marketers rely on SMART goals to achieve large task such as drawing in revenue. SMART goals are shown in the image above as: Specific, Measurable, Achievable, Realistic, Time-Specific.
Take the example previously used “I want to buy a house” to turn this into a SMART goal it would become “I want to buy a house for $114,000 within the next 5 years.”
A strategy is the plan that ensures we achieve the desired goal; to ensure that we are able to buy the house from the example listed above in the time frame one stragtegy would be to finance the house from lender, or to purchase the home in cash.
Finally we have tactics which is the day to day activities that can be done to achieve the strategies that support the main goal. For example each month starting at the beginning of the year set aside $500 towards a dowb payment on the house to be approved for the loan from the lender.
How It Plays Out In Marketing
A digital marketer for the new company athletic leisureware company Halara could be tasked with the S.M.A.R.T Goal from management that they want to increase their Instagram following by 10% in the next quater.
The strategy could be to:
- Curate audience sentiment
- Interact with and engage platform influencers to increase collaborations.
- Post content at hightened times of target audience usage on the platform
- Increase brand awareness
Tactics support the strategies we set to achieve the goal of raising Instagram following by 10% at the end of the quater. Some tactics in this situation could look like:
- Make 5 post related around # challenges that followers can use to showcase their commitment every other week.
- Add a new reel to Instagram tagging one new top fan (influnecer) each week.
- Run 2 new paid advertisments at 6AM and 4:30PM for one week
KPI’s and Marketing Campaigns
A deeper look into the realtionship of KPI’s and how they ensure S.M.A.R.T goals are met.
Marketers specifically use KPI’s or key preformace indicators are measureable values that can be used to achieve overaching company goals over a period of time and implement strategy.
Example: Telfar’s CFO task the marketing team with increasing sales by 35% by the end of the quater.
“A digtal marketer could set a KPI to increase sales conversions rates by 10% from website traffic“
A digtal marketer could set a KPI to increase sales conversions rates by 10% from website traffic, and to make sure this is acheived the KPI is supported by marketing metrics which are measureable values that help track preformance specfically across channels (Klipfolio, 2022). Maketing metrics could include
- click through rates
- purchasing funnel
- total visitor rate
- return vistor rate
Sources
.com, K. (2022). Marketing metrics & kpis. Klipfolio.com. Retrieved May 19, 2022, from https://www.klipfolio.com/resources/kpi-examples/marketing
About the Author charliesaidthat Hi I’m Charlie, C. (2019, July 15). The difference between marketing strategy vs Tactics – an example. charliesaidthat. Retrieved May 19, 2022, from https://web.archive.org/web/20200721000344/http://charliesaidthat.com/digital/digital/difference-between-marketing-strategy-vs-tactics-an-example/
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