So, you have your company mission and ambitious goals for business growth. But how well do they mesh with your marketing strategy?
When you connect your business and marketing goals, your campaigns will translate into actual conversions that impact your bottom line. Rather than simply ticking a box on the marketing to-do list.
In our last article, we explored how to measure campaign success. The next piece of the puzzle is tieing those metrics to your business strategy.
You might notice that you’re getting a lot of website traffic, for example. But how does that traffic contribute to achieving your business goals?
Here’s how you can set goals that will keep marketing moving in the same direction as your business.
The first step in aligning your business and marketing strategies is goal setting. Answering the question, “what does success look like for my business?” It could be revenue growth, increasing your customer base, or beating out the competition.
It doesn’t matter how you prioritise your goals. You just need a clear path for action to keep everyone focused on the bigger picture.
Once your teams are aligned on a shared set of goals for the business, it’s time to determine the drivers.
For example, your business strategy might be to grow revenue within a certain period. In that case, you’ll need to know how much each customer brings in and how many customers you need to reach your goal.
From there, you can work out how many people the sales team need to talk to before they make a sale. Then, you can determine how many leads marketing needs to hand over to make that happen.
Now, you have actionable marketing goals to guide your efforts.
A successful marketing strategy thrives on clear steps towards reaching your goals. Then, you need measurable objectives at every step.
So, if we take the example from earlier and flesh that out, the business goal is to increase revenue. The marketing goal is to send more leads to the sales team. That means your marketing efforts need to build brand awareness and generate quality leads.
There are a heap of different ways you can reach these objectives. You could run paid ad campaigns or produce content that requires sign-ups. But with the bigger picture in mind, your marketing efforts will directly impact your business goals.
Measuring your marketing performance isn’t just about whether the teams meet their lead or sales targets.
You also need to evaluate which channels and messages had the biggest impact on your goals. If your goal is revenue-based, what affected your customer’s decision to buy?
Marketing attribution will give you a clear view of all the marketing touchpoints on your customer’s path to purchase.
This level of data granularity will help you make more informed decisions. You’ll know where to spend your marketing budget and what information helps your customers convert.
Now that you have measurable goals for every step of the buyer’s journey, you’ll be able to forecast the future.
You’ll have the data you need to project whether you’ll reach your goals in the time you’ve set out. Then, you can assess where you might need to adjust your efforts.
Experimenting is the best way to find what works best for your business. Testing and learning is how you ensure you’re always growing as a company.
When sales, marketing, and business strategies work together toward the same goals, you’ll see sustainable growth built on a foundation of team collaboration. Ensuring that everyone is on the same page will keep your company moving forward into the future.
At One Stop Media, we’re laser-focused on your business goals. We transform your goals into actionable marketing strategies that produce real results. Get in touch today to find out how we can help you achieve strategic harmony.