Definition of marketing objectives is when a company promotes its service or product to their potential customers, that needs to be achieved in a specific time.
Marketing objectives define what you want to achieve through your activities.
While setting marketing objectives to aid your long-term goals, it’s essential to use SMART (Specific, Measurable, Achievable, Relevant, Time-bound) mnemonic.
And applying the SMART criteria is vital for creating a good marketing objective.
Note, that each letter in the SMART acronym refers to different things, according to different sources. Though, Wikipedia has gathered every alternative definition the SMART criteria could have.
How does the SMART acronym affect your marketing objectives?
The SMART approach grants the ability to determine how successful our marketing objectives will be and gives us the opportunity to effectively manage them.
Moreover, to properly explain the importance of SMART, read how exactly each criterion is defined.
Specific – It stresses the importance of having a more specific goal, rather than a general one. The aim of this criteria is to simply make sure that the goal is clear and precise.
Also, telling the team what’s important, what is expected and who is involved are essential attributes.
To make it easier, specific goal must answer these questions:
A. What I’m willing to accomplish?
B. The benefits of reaching the goal.
D. Identifying the location
Measurable – This criteria is required to measure the process of the goal attainment.
The idea behind the concept is that if a goal is not measurable, it’s impossible to determine if a team is making a progress. Such progress helps teams to stay focused.
This criterion must answer the following questions:
A. How much?
B. How many?
C. When it will be accomplished and how will I know?
Achievable – The third criterion emphasizes on goals that must be achievable and realistic.
The goal mustn’t be out of reach, nor below standard caliber, because such mistakes lower the team’s productivity and make the objective meaningless.
While identifying certain goals, that are most important, we start to boost motivation, develop skills/abilities and measure the financial capacity. T
he third criterion must answer these two questions:
A. How to achieve the goal?
B. How pragmatic is the goal?
Relevant – Relevance in marketing objectives refers to choosing goals that have “weight”.
Mostly, in order to achieve a goal, you’ll need resources to overcome obstacles.
And when such goals are met, that’s precisely what drives the department and team.
A relevant objective must answer these questions:
A. Is it worthwhile?
B. Is the time right?
C. Are you suitable?
Time-bound – The fifth and the last criteria emphasizes the importance of completing a goal in a specific time.
Effectively managing time and setting deadlines will increase the focus of your teammates and will solve the problem of overdue.
The time-frame is a vital part of marketing objectives because it prevents goals from “dying”.
This last criterion must answer several questions:
B. What will I do two months from now?
C. What’ll I do three weeks from now?
D. What’ll I do now?