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Should a small business have a marketing goal?

Shelburne Ferguson • Sep 17, 2018 at 12:00 AM

From my observation and knowledge, small businesses rarely assess and gauge carefully how successful they are being with their present marketing.

Few small businesses even establish goals they want to achieve with the types of marketing they choose to use before they use any of the marketing approach. In other words, business owners and marketing managers need to determine what they would consider marketing success for each category of customer sales. Moreover, your goals must be Specific, Measurable, Attainable, Realistic and Timely, in other words, “SMART GOALS.”

When trying to set marketing goals, you need to first determine what your business goals are. A firm on the internet which does a good job of giving guidance along these decisional lines is https://www.impactbnd.com. I would recommend that you visit their website found at https://www.impactbnd.com/blog/how-to-set-marketing-goals-based-on-business-goals.

The Impact Firm provides “10 steps for setting well-defined marketing goals that are in sync with the goals of the business.” These 10 recommendations from Impact cover: 1. How much money do you need from your proposed marketing effort? 2. What level of sales will you need to obtain your goal? 3. What “closing rate” will be needed to achieve this volume? 4. How many “sales qualified leads” will need to be passed on to the sales team? 5. A marketing qualified lead (MQL) is a lead that is qualified, but not sales ready. MQL’s need more marketing such as lead nurturing to become more sales ready. 6. Not all of your leads will be qualified, so it’s important to estimate a number that will provide you with enough MQL to achieve your goals. 7. How much traffic will you need to achieve your goals? 8. It is important that you put emphasis on other business goals that you may need to create metrics for. 9. Set quarterly benchmarks … if you’re just getting started, remember that results will take some time. 10. Impact offers a “Free Guide: How to Fix 6 Critical Marketing KPIs.”

KPIs are defined as “Key Performance Indicators,” which should benefit your efforts establishing your marketing goals as well as achieving them. I am not related to the Impact Firm in any way but simply suggest that acquiring their free guide might benefit you regarding your marketing desires and business goals for the future.

I trust you recognize from what I have presented here that this marketing approach is not simple or easy. It does require a significant amount of time to achieve the goals you may set for your business. Your entire staff will need to become significantly involved as well as managers and supervisors.

I would like to suggest some alternative approaches for you to work on if you are not able right away to launch a full marketing effort suggested above. Let me ask you an important question. Do you really know your current customers well, and I mean really well? Do you keep a log of addresses and other contact info on your clients including information about what products and services they have purchased from you in the past? Do you know where they work and what they do? Having had some children and grandchildren who were high school and even college athletes, it was very nice to walk into a business and have someone who works there ask me about one of those athletes. Get to know your customers beyond the ordinary information you might gather. Contact potential customers via personally addressed mailings whose business or work location or family may need your products or services. Send personally addressed letters to these potential customers announcing that you are having a sale. They should appreciate advance notice.

Be friendly to your customers. Remember their names; what they do; ask about their children; etc. Make your business location attractive and inviting to your customers. If your business is adult oriented, provide a place for the “kids” whom the adults may bring with them that will provide a place where the children can enjoy their time there and not be a distraction for their “shopping parents.”

Lastly, do your best to discover what radio, TV stations, newspapers, magazines and specific programs they watch, read and listen to … without your being considered nosy or intrusive. Focus your ads on where your customers focus their time.

Mr. Ferguson is a Kingsport attorney. You can reach him at: 423/246-3132.

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