What is the difference between goals, strategies, and tactics?
A goal has a broad primary outcome, and a strategy is the approach used to achieve a goal. A tactic is a tool used in the pursuit of an objective associated with a strategy. (Belicove, 2022)
What is the importance of setting SMART goals when creating a marketing campaign? What questions should be considered?
SMART goals are important when creating a marketing campaign because they provide an overall outlook for a campaign. SMART goals are:
“Specific – Describe exact numbers and timeframes for your goal”
“Measurable – Create goals that are quantifiable”
“Attainable – Make sure goals are challenging but realistic”
“Relevant – Create goals that are consistent with your business’ higher-level goals”
“Timely – Provide an adequate amount of time to collect accurate data”
(LeBlanc, 2019)
When creating SMART goals it’s important to consider both short and long-term goals. Short-term goals help to keep the campaign on track, are smaller, and take place within a shorter time-frame, but are intended to work toward the campaigns long-term goals. Some examples of questions that should be considered when setting SMART goals are:
Specifics – What do you specifically want to accomplish?
Measurable – How will you measure your progress and know that you have achieved the goal(s)?
Attainable – Are the SMART goal(s) attainable?
Relevant – How do your goal(s) relate to your most important values?
Timely – What is the time-frame and what do you want to accomplish, and when, within that time-frame?
(College of Executive Coaching, n.d.)
Provide examples to portray how marketing tactics align to strategies in order to support set goals.
Marketing tactics must align with business goals in order to be effective. The first step is to define your businesses goals and then build the sales and strategy plans with a focus on reaching them. Then use this as a foundation to build your marketing plan. Marketing efforts need to be tied to business objectives and support the overall strategy of the company. Take a step back to determine how much revenue your marketing needs to achieve in order to sync up with business goal(s), and quantify how many sales are needed to reach the revenue goal. It’s helpful to understand the number of opportunities the marketing campaign needs in order to achieve the revenue required to make the goal. Setting meaningful marketing metrics is important so that your campaigns success can be analyzed and adjusted as needed in order to meet business objectives.
(Kalis, 2019)
How can you ensure that your SMART goals are met using key performance indicators (KPIs)? Explain using examples to support your rationale.
Key performance indicators can be used to ensure that SMART goals are met by measuring and tracking key business objectives. Good KPI’s should follow the same SMART framework that goals use. An example of a “specific” KPI might be to “Improve customer satisfaction rating by 10% by the end of Q3.” Marketing related KPI’s might be the dollars spent on marketing over a certain period of time, or something like cost per lead.
(Indeed, 2022)
Belicove, M. E. (2022, April 14). Understanding goals, strategy, objectives and tactics in the age of social. Forbes. Retrieved July 14, 2022, from https://www.forbes.com/sites/mikalbelicove/2013/09/27/understanding-goals-strategies-objectives-and-tactics-in-the-age-of-social/?sh=55b8ef914c79
LeBlanc, J. (2019, June 25). Why smart goals are necessary for every marketing campaign. Medium. Retrieved July 14, 2022, from https://medium.com/swlh/why-smart-goals-are-necessary-for-every-marketing-campaign-b6a4b42d525a#:~:text=Aside%20from%20understanding%20how%20your,Create%20goals%20that%20are%20quantifiable
College of Executive Coaching. (n.d.). Top coaching questions for smart goals. College of Executive Coaching. (n.d.). Retrieved July 14, 2022, from https://www.executivecoachcollege.com/research-and-publications/top-coaching-questions-for-smart-goals.php
Kalis, K. (2019, June 27). How to align marketing strategies to business goals. Revelry. Retrieved July 14, 2022, from https://blog.revel.in/how-to-align-marketing-strategies-to-business-goals
Indeed. (2022, June 29). Key performance indicators (Kpis): Definition and examples. Indeed Career Guide. Retrieved July 14, 2022, from https://www.indeed.com/career-advice/career-development/key-performance-indicators
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