January 7th, 2020

Defining Your 2020 Marketing Goals (That You Can Actually Achieve)

marketing goals 2020

The New Year is here! The perfect time to set the right goals to launch your franchise into a successful new year (possibly a successful decade?) 

Success doesn’t mean over complicating things. Success can mean simple. 

Using models, visuals, acronyms, and checklists to simplify processes and procedures to help your organization grow is crucial, sure, but unifying these steps under a straightforward vision is key. 

Clear goals, whether financial or quality of life in nature, must pass the S.M.A.R.T. test. You may have heard of the S.M.A.R.T. test, but have you applied it to your marketing strategy? 

The fitness industry relies on new year resolutions, perfectly encapsulated in the before and after photo. 

Why not lean out your marketing strategy? 

Abandon the Quick-And-Easy Fix. Build Your Core Focus. 

Creating a laser-sharp focus for your sales and marketing efforts could mean abandoning the heater-skelter method that may have gotten you through your early period of drought. In order to break through the ceiling in 2020, you have to create the RIGHT kind of focus on your company’s vision. 

Specific
Goals need to be clearly articulated and written down. “Making a lot of money” isn’t specific. 

Try following the Reporter’s Questions:

-What do I want to accomplish?

-Who is involved?

-When do I need this completed by?

-Where is the problem/solution located? 

-Why is this goal important? 

Specific goals directly relate to your target market, commonly referred to as “The List.” 

You need to know their demographic, geographic, and psychographic characteristics. By identifying your target market, you create a filter for vetting the “ok” leads from the GREAT ones. What does this translate to in the long run? Clients with less hassles and more profit. 

Measurable
You have to be able to create a tracking system; a method of keeping score. This lets you know whether or not you are on track and whether you’ve hit your goals.

Examples of Measurables in Sales and Marketing 

  • New leads 
  • Opportunities (#, $, or both) 
  • Sales calls 
  • Sales meetings/presentations 
  • Proposals 
  • Close ratio 
  • Ancillary sales (accessories, warranties, service plans..) 
  • Expected revenue 
  • Actual revenue 
  • YTD revenue (% to plan) 
  • Errors (estimating, ordering, design…) 
  • % of asking price received 
  • Cost of sales (salaries plus commissions/revenue produced) 
  • Pageviews 
  • Clicks 
  • Redeemed coupons 
  • Walk-ins/call-ins 
  • Info requests 
  • Web conversions 

Achievable Timetable

Goals have to have a deadline, a “by when” date. Goals without a deadline don’t inspire commitment. It’s human nature not to take action on anything you wish to achieve someday. Think of how long you have thought about starting a franchise. Have you set a deadline as to when you will open? If not, other more urgent activities will take precedent and your dream will be pushed further and further back. 

THESE GOALS NEED TO BE AGREED AND ATTAINABLE and I’d venture to add a third- ACCOUNTED FOR.

If you’re managing a team, consider setting year goals, quarterly goals, and weekly goals for you and your team. 

Relevant 

Reasonable, realistic and results-based are all equally important sub-headlines. 

A relevant goal can answer “yes” to these questions:

  • Does this seem worthwhile?
  • Is this the right time?
  • Does this match our other efforts/needs?
  • Am I the right person to reach this goal?
  • Is it applicable in the current socio-economic environment?

Time-bound 

If the goal will take three months to complete, it’s useful to define what should be achieved half-way through the process. Providing time constraints also creates a sense of urgency.

This step, it’s useful to reflect on your past year. Be honest with yourself. Who was a bottleneck in the process? How can this be avoided in the new year? How can I make the most of my time?

If you’re just getting started, remember that results will take some time. You’ll get a lot more traction in the 4th quarter than you did in the 1st. Set your benchmarks or the fourth quarter much higher than your benchmarks for the first quarter.