If you want to build your company, it’s necessary that you establish workable plans and measurable marketing objectives. When you know what you’re reaching toward, you’ll be able to formulate detailed plans to achieve it. Better yet, you’ll know when your objectives have been met and when you need to form new goals to take your business to the next level.
There are three main categories of marketing objectives that can guide your company and help it grow and thrive in a competitive environment.
Increase Your Customer Base
Gaining more customers is a fundamental component of growing your business. When you want to increase customer numbers, you can set objectives in areas such as:
- Awareness: This objective relates to making customers and potential customers aware of your products and services and where they can get them. Increased advertising or placing advertising in different media could help with this.
- Purchasing: In this area, you want to increase the amount that customers purchase during each sale. This could be accomplished by setting quantified sales goals, such as selling a customer in a new area during a particular 30-day period.
Ensure Customers Continue Buying
Sustained and consistent purchases through customer retention helps you form a solid and reliable core business. Your marketing objectives in this area could include:
- Increasing purchase frequency: Your objective here might be to increase how often your current customers purchase products or services from you. This could be accomplished by increasing advertising or offering discounts or incentives.
- Increasing purchase time frames: This could involve objectives that keep customers buying for a specified period of time, such as through a year-end clearance or spring sales.
Increase the Amount Customers Buy
Your business can also grow if your current customers buy more from you. You can do this by:
- Increasing purchase frequency, as outlined above.
- Increasing purchases through cross selling or introducing new products and services.
- Giving customers deals or incentives to increase purchases or new referrals.
How could you refine your marketing objectives to make them easier to achieve?
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