Goals, objectives, strategies and tactics play a large role in marketing planning, so being able to construct each is important.

Question

Working in the same groups from your Research Design Project, consider the business chosen for the project.
Determine two marketing goals for this business and expand on each goal with at least two objectives.
Each objective should have a corresponding strategy for accomplishing it, and each strategy should be detailed with two tactics.
Present your decisions in a 750-word paper which describes the goals, objectives, strategies and tactics, as well as the justification for each.

Answer 1

Marketing Goals, Objectives, Strategies, and Tactics for [Business Name]

Introduction

Effective marketing planning is essential for any business aiming for growth and success. This paper outlines two marketing goals for [Business Name], along with their corresponding objectives, strategies, and tactics. The systematic approach ensures clarity and purpose as the organization seeks to enhance its market presence and achieve its overall business objectives.

Goal 1: Increase Brand Awareness by 25% Over the Next Year

Increasing brand awareness will help [Business Name] attract more customers and boost sales. A stronger brand presence in the market will also enhance customer loyalty and recognition.

Objective 1.1: Achieve a 15% increase in social media engagement by Q4.

Strategy: Leverage Social Media Platforms for Content Marketing.

Tactics:

1. Content Calendar Development: Create a monthly content calendar that includes a mix of promotional posts, customer testimonials, educational content, and interactive content such as polls and quizzes to engage followers.

2. Influencer Collaboration: Identify and collaborate with three relevant local influencers to promote products and share user-generated content. This will not only increase visibility but also foster trust through influencer endorsement.

Objective 1.2: Generate 500 new email subscribers by Q3.

Strategy: Implement Lead Generation Campaigns.

Tactics:

1. Incentive-Based Sign-Ups: Offer exclusive discounts or freebies for users who subscribe to the email list. Use visually appealing pop-ups and banners on the website that highlight these benefits.

2. Social Media Promotions: Launch a social media contest that requires participants to sign up for the email newsletter. This approach not only increases subscribers but also boosts engagement on social platforms.

Goal 2: Boost Online Sales by 30% in the Next Nine Months

Increasing online sales contributes directly to the revenue stream of [Business Name] and enhances its competitive position in the market.

Objective 2.1: Improve website conversion rate by 20% by the end of Q2.

Strategy: Optimize the User Experience (UX) on the E-commerce Website.

Tactics:

1. A/B Testing: Conduct A/B testing on key landing pages to understand which versions drive more conversions—this could involve testing different layouts, calls to action, or images.

2. Streamlined Checkout Process: Reduce friction in the checkout process by minimizing the number of steps required to complete a purchase and offering guest checkout options to encourage quicker sales.

Objective 2.2: Increase average order value (AOV) by 15% within six months.

Strategy: Implement Upselling and Cross-Selling Techniques.

Tactics:

1. Product Recommendations: Utilize algorithms to suggest related products on product pages and at checkout. For example, when a customer adds an item to their cart, suggest complementary products to encourage additional purchases.

2. Bundles and Discounts: Create product bundles or limited-time offers where customers receive discounts when purchasing a set of related items, incentivizing higher spending.

Justification

The outlined goals, objectives, strategies, and tactics are designed to bolster [Business Name]'s market presence and increase its bottom line.

For Goal 1, increasing brand awareness is critically important as it lays the groundwork for future sales. Social media is a powerful tool; better engagement can expand the organic reach of the brand messages and cultivate a community around the product offerings. Offering incentives for email sign-ups ensures a direct line of communication with potential customers, fostering loyalty and repeat purchases.

For Goal 2, increasing online sales is essential for sustaining growth. The focus on optimizing website UX is justified as research shows that a seamless and pleasant shopping experience significantly enhances conversions. Meanwhile, upselling and cross-selling strategies have proven effective across various industries, allowing businesses to maximize the revenue per customer effectively.

Conclusion

In summary, the proposed marketing goals, objectives, strategies, and tactics for [Business Name] are well-aligned with the business's vision for growth. By increasing brand awareness and boosting online sales, [Business Name] can position itself for sustained success in a competitive marketplace. The implementation of specific tactics ensures actionable steps are in place to achieve these objectives efficiently. By continually monitoring progress and being flexible to adapt strategies as needed, [Business Name] can secure its standing in the industry and achieve its long-term goals.