In the previous blog, we discussed the ever-important process of identifying your business’ target market. Now that you’ve determined who to focus your marketing on, the next step is to analyze the best means of reaching them.
Setting Marketing Goals
Before exploring digital channel options, it’s important to set specific marketing goals. This will aid in determining the most effective platform for fulfilling your business’s unique needs. Setting goals is crucial for marketers as studies show that “marketers who set goals are 376% more likely to report success than those who don’t” (CoSchedule). Goals provide a greater sense of clarity and understanding which makes a marketer’s job easier and more rewarding.
Some common examples of marketing goals may include things like “increase website traffic”, or “improve conversion rates”. Whatever your goal is, be sure that it adheres to the “SMART” goal principles, which is widely believed to be the best method of goal-setting. SMART is an acronym for Specific, Measurable, Aspirational, Realistic, and Timely which are all important characteristics for a goal that will set you up for success.
Setting Marketing Budgets
Setting a reasonable and effective marketing budget requires you to be sufficiently knowledgeable about your business’s sales funnel. Find answers to questions like “how many leads do I generate each month?” and “what does it cost to generate these leads?”. Additionally, take into consideration your other business budgets and expenditures. Remember that marketing is an investment rather than an expenditure; position your budget so that it will function as such.
Choosing Marketing Channels
Everything we’ve covered so far culminates in determining precisely where you should focus your marketing efforts. There are so many different methods of digital marketing that are effective for all sorts of different reasons, but most businesses can’t afford to try them all. With your target market, budget, and goals in mind, you should be able to determine which marketing channels are best to suit your needs. It may be beneficial to test a few channels at a time to truly determine which are most effective.
If you still aren’t sure how to take the first steps in getting your business’s name out there, DSG experts are standing by to help. Click here to check out our website and learn more about what DSG has to offer.
Sources:
https://coschedule.com/marketing-strategy/marketing-goals/
https://www.forbes.com/sites/allbusiness/2017/05/02/6-steps-to-developing-a-small-business-marketing-budget/#4ea83d40355c
