Business goals are more than just grand and random dreams for your business. Goals create structure and processes and allow us to measure success and make informed decisions for our businesses. Once you set goals, the plan becomes a little bit clearer. At Richwood Marketing, we encourage our clients to share their overall business goals so that we can make these informed and creative marketing suggestions to lead them to the best success.

 

So, what’s the process? Here’s the step-by-step:

Step 1: Set business goals

Step 2: Determine your target market in each area

Step 3: Set a marketing budget

Step 4: Develop marketing strategies and tactics

Step 1: Set business goals

Begin from a high-level perspective. First, determine the overall long-term goals for your business – what do you want to accomplish this year? In five years? Ten years? These goals are important to your marketing strategy today.

Now, bring it to a more granular, short-term level. Set goals for each department, service, or area of your business for each quarter. These goals are subject to change, but it’s a good step in putting together your marketing strategies.

Example: Sunny Hill Golf Course has the usual golf amenities but also has a large space they often rent out. Their two main business goals are to bring in more general golfing customers and to rent the space out every weekend for weddings.

 

Step 2: Determine your target market in each area

Let’s take a look at those granular, short-term goals you just set for your business. Based on those, what is the target market for each department, service, or area of your business? If the target market is the same for all of these areas – Great, easy! However, most businesses have a broad customer base with interests in different parts of their business. Identify the ideal customers in each area. What is their age, gender, location? What are their interests?

Example: Sunny Hill Golf Course has two very different goals, and their target market will be different for each – avid golfers and brides! They have determined that the golfers are men, ages 35-70, in Union County, Ohio. Their interests are golf, family, and grilling. The brides are women, ages 22-32, in Union, Delaware, and Marion counties, Ohio. Their interests are other wedding-related content.

 

Step 3: Set a marketing budget

Yes, really, you need one. Setting an overall marketing budget helps you get the most from your marketing dollars. Your goals, plus your budget, give you a clear view of what’s important and what’s possible. Start by determining your yearly marketing budget. Then, break it down by allocating a certain amount to each goal.

Example: Sunny Hill Golf Course has allotted for a marketing budget of $20,000 this year, and they are going to allocate $10,000 toward each goal.

 

Step 4: Develop marketing strategies and tactics

Marketing can be overwhelming. With endless options of mediums, it can be hard to sort through it all to make decisions on the best options for your business. When you are developing your marketing strategies, make sure that whatever you do relates to those business goals. Don’t put content into the world just to put content into the world. Everything you do should have a specific and clear purpose that gets you closer to those business goals.

Research and consult with a marketing professional. Don’t be afraid of trial and error. Find what works for your target audience. Since you’ve already identified information about them, utilize the marketing tools available to best reach them based on their demographics, location, interests, and even where they will best receive your message.

Example: Sunny Hill Golf Course has decided to allocate their budget toward the following marketing strategies: Updated website (for both golfers and brides), video marketing (for both golfers and brides), display advertising targeting other recreational facilities their customers typically frequent (golfers), Facebook, Instagram, and Pinterest ads targeting newly engaged women (brides), and they will run various Google Ads both highlighting their multiple services and targeting their competitors for both services.

 

Good marketing is a combination of goals, research, and creative and pragmatic thinking. You must know what you need to make decisions to get you there, and you need to be practical and strategic about your methods. But – when it all jives – the magic happens!

 

Written by Cece Utendorf
Richwood Marketing Director

Leave a Reply