Set Business Marketing Plan Goals and Objectives
Strategies for growing your business are essential to a successful business plan. Include your marketing goals and objectives in the marketing strategy section of your written business plan.
Follow these steps as you set marketing goals and objectives:
Review your business goals.
Some goals deal with operational, employee, management, and business-development issues. Others deal with marketing issues, including goals such as Increase brand awareness or Develop new markets for products and services. These business goals become goals of your marketing plan.
When you adopt business goals as marketing goals, in your marketing plan you’ll want to add clearly defined targets and timelines. For example, you may expand Develop new markets for products and services to Develop new markets to increase sales of Product X by 5 percent over the upcoming one-year period.
Set objectives to define how you’ll achieve your marketing goals.
Each objective should specify an action and a desired outcome. The table shows an example.
|Goal||To develop new markets||Over the upcoming one-year period||To increase sales of Product X by 5 percent|
|Objective||Establish a distributor relationship||During the first quarter||To achieve product placement in holiday gift catalogs|
|Objective||Place ads in geographically targeted tennis and golf publications||In early spring||To develop summer sales to Northwest outdoor enthusiasts|
|Objective||Enhance Web presence and expand social networking||Over the first quarter||To develop customer relationships in nearby and distant market areas|