Refresh - Goal Setting
Within this refresh series I encourage you to review your current marketing strategy, that strategy could be a note on a scrap of paper or a more documented list of priorities in your mind, we all have some idea of what we want from our business.
Goal setting is one of THE most important sections of this refresh series, by having goals to work towards you'll find that throughout the year you'll be able to make business decisions far easier as you can simply check it against your goals. For example, the question "should I bring out a new product this year?" may pop up in your mind. You can simply look over to your goals for that year and see if bringing out a new product will help you work towards completing them.
It's all too easy throughout the year to get sidetracked and forget what we were working towards when new and shiny opportunities come along. Sometimes you'll find that you might need to say no to these opportunities this year if they aren't aligned with helping you achieve your goals.
So, "what is defined as a goal?" I hear you ask. My answers to this is "anything, as long as it's measurable". There's no point having a goal if you're unable to measure against it / to see if you've been able to achieve it (more on that in the next section of refresh)
I recommend you keep them simple and to the point, and having no more than 10 clear goals in your strategy plan else it can become far too overwhelming! Here are some examples.
- To reach £xxxxx by the the date xxxxxx
- To have xx more people purchase my service/product this year vs last year
- To create 1 new product/service this year
- To create a lead magnet so I can start up my mailing list
- To increase my mailing list signups by 5% vs last year
- To increase the open rate of my mailing list emails vs the month before
- To work with at least 3 new brands this year from my list of "brands I want to work with"
- To launch my online store by the date xxxxxx
- To increase my prices by 5% this year
- To upload to Pinterest every time I post new content on my blog
- To increase my engagement rate on Instagram vs the month before
- To do 1 Facebook or Instagram live every week
- To increase traffic to my site by 10% this year vs last year
- To increase traffic each month to my blog vs the month before
You can see how these examples above are specific, you have measureable targets against them. When reviewing at the end of the year your outcome with either be you started something or you didn't, you reached that date or you didn't, you reached that target number or you didn't. Sometimes it's hard to decide on what percetage increase to put or what targets to give yourself but I always feel like you should go with your gut. If 6 months down the line you feel that you're targets are way off, you can easily amend them. Or, next year when you create new targets again, you can be more realistic with your numbers.
Creating goals are not only for the now, it's for the long game. You can see in a couple of examples above I've put "to increase xxx vs last year". If you haven't been tracking your goals for the previous year, you may not be able to review these numbers which is why it's important to track them this year and then next year you'll have an even better chance of reviewing data from your business.
I recommend once you have made your list of 10 goals you add them to your marketing strategy document so you have them to hand whenever you need to refer back.
So, your marketing strategy is nearly complete, the next and final instalment of this refresh series is to plan on how you'll track your goals and will talk about taking these goals and learning how to track them. As always, if you have any questions, please don't hesitate to email me or drop me a message on Instagram.