The Role of Smart Goals in Marketing

christmas

Photo by Laisinghani, P. (2018)

As the holiday season approaches into our lives, we tend to appreciate our loved ones even more. This is the time when families and friends come together to celebrate the jolliest holidays. Some people get together with their families and friends to watch classic Christmas movies while others go on shopping sprees.

The holiday season is known as the busiest time of the year for companies when compared to the rest of the year. Many companies utilize the holiday season as an advantage to grow their business and increase their profits as well. These companies use the help of planning techniques in order to achieve the ultimate business success. The effective techniques include goals, tactics, and strategies. Goals can be anything that a company hopes to achieve in the near future. To accomplish these goals, a company generates a detailed plan of strategies intended to move forward towards the goal. In other words, it is similar to a game plan that tells a sports team what tactics should be performed to win a game. Tactics are the day to day actions taken to support the strategies to achieve the set goals.

 

Photo by Harmon, C. (2017) – Photo by Product Clipart Starbucks. (2018)

Here’s an example: 

Starbucks has a set goal to increase the number of customers who buy their coffee by 3% within the next month. The company incorporates day to day marketing tactics to post creative Instagram pictures and videos on their page. These posts will assist to reach the overall strategy of attracting more customers into buying their coffee from Starbucks.

During the holiday times, many companies tend to incorporate smart goals into their marketing campaigns to attract customers into buying their products. You may ask ‘what are smart goals?’ Smart goals are used to help guide goal setting for a business. Smart is an acronym that stands for: specific, measurable, attainable, relevant and timely.

smart-goals-clipart-1

Photo by Smart Goals Clipart. (2018)

S: Specific The goal should be written clearly to define what you want to accomplish and how you are going to accomplish it. What do I want to accomplish? Why do I want to achieve this goal? Who is involved in the goal?

M: Measurable  To track the progress of a goal to know how far completion is from achieving the set goal. Can this goal be measured? How can I measure this goal?

A: Attainable Before you set a goal it is important to make sure that you can accomplish the goal efficiently and it is realistic enough to happen in the end. Is the goal truly achievable? How can I accomplish this goal? if you have the tools and skills needed for the goal to be completed?

R: Realistic The goal needs to relate to the company’s overall goal and consider the current trends in the industry. Is this right time for the goal? Why is it important? Does this align with other needs?

T: Timely The goal should have a set timeline to focus on to make sure it is completed by the deadline. When should the goal be completed by?  What can I do three months from now? What can I do today?

But how can companies apply smart goals into their holiday marketing campaigns?

 

Photo by Gekrabio. (2018) – Photo by Chen, M. (2018)

Here’s an example:

The Target Corporation offers their customers fun, trendy, and elegant clothing at a relatively cheaper price. Their motto is “Expect More, Pay Less” that allows its customers to expect more quality products at a more reasonable price. Recently, they have launched a holiday campaign “Gather Round” that highlights the amazing unbeatable value of products offered by Target to capture the spirit of togetherness with family and friends. 

Target has decided to a set goal to increase their brand awareness of their holiday campaign on Instagram before the end of 2018. They want to post more frequently on their Instagram page by posting three times a week to attract more customers into buying their holiday products. Target would measure the marketing metrics of their Instagram page every week to determine whether they are achieving their social media goal. A key performance indicator can be used to demonstrate how effectively Target performs on their social media goal. The social media team of Target would look weekly at the likes, comments, engagement, followers growth and other social media metrics of their posts. In addition, the social media department of Target would apply the existing resources and employment to be able to post three a week. Target would have to be realistic about the growth of their Instagram platform being accomplished within the next two months.

 

 

Reference: 

Chen, M. (2018, January 12). How to use Influencer Marketing to dominate Instagram. Retrieved from https://www.crowdbabble.com/blog/use-influencer-marketing-dominate-instagram/

Ennis-O’Connor, M. (2018, January 18). How To Set SMART Social Media Marketing Goals For Your Business. Retrieved from https://medium.com/@JBBC/how-to-set-smart-social-media-marketing-goals-for-2018-862d1002a172

Gather Round: Get Your First Look at Target’s Holiday Campaign. (2018, November 1). Retrieved from https://corporate.target.com/article/2018/11/holiday-marketing

Gekrabio. (2018, October 2). Christmas Decoration Stores Near Me. Retrieved from http://tifannyfrench.info/christmas-decoration-stores-near-me/

Harmon, C. (2017, June 1). Coffee shops and Social Media. Retrieved from https://cafespaces.wordpress.com/2017/06/01/coffee-shops-and-social-media/

Introduction to Key Performance Indicators Examples. (2018). Retrieved from https://www.klipfolio.com/resources/kpi-examples

Laisinghani, P. (2018, August 30). Market Segmentation – Holiday Marketing Campaign. Retrieved from https://msg91.com/blog/market-segmentation-holiday-marketing-campaign/

Product Clipart Starbucks. (2018). Retrieved from https://dumielauxepices.net/product-clipart/product-clipart-starbucks

Charliesaidthat. (2016, October 16). The Difference Between Marketing Strategy vs Tactics. Retrieved from http://charliesaidthat.com/digital/digital/difference-between-marketing-strategy-vs-tactics-an-example/

Smart Goals Clipart. (2018). Retrieved from https://www.google.com/url?sa=i&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiU_6m8jOTeAhXMJt8KHZEuAnkQjRx6BAgBEAU&url=http%3A%2F%2Fworldartsme.com%2Fsmart-goals-clipart.html&psig=AOvVaw1ctZGwizgkHTkniq9_jraB&ust=1542841999672587

SMART GoalsHow to Make Your Goals Achievable. (2018). Retrieved from https://www.mindtools.com/pages/article/smart-goals.htm

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s