May 11, 2023

Digital marketing SMART goals: What, Why and How to Optimize it |

Developing SMART goals is not rocket science

You don’t need to have a post-grad in business marketing to develop SMART goals that align well with your digital marketing strategy. Online and Google search is a HUGE Atlantic of Researches Articles Posts on these Niches. Try to refine your keywords to search for the right resources and information that guide you in the right direction… 

 

What, Why, and How to Optimize it? Assembling the all components of your marketing campaign to drive your revenue goal… the ultimate and at large…

 

This is not a game of quick brown fox jumping over the lazy dog. We must have to think about and take into consideration:

How to BEST Agile in a Changing Post-Pandemic & Ukraine Russia War

 

Be SMART Think SMART Plan SMART in all cases!!



SMART an acronym is a fact and its optimization is the center point of this post out of my very ongoing dialogue on Group Advertiser recruitment!

 

I don’t have any info about their Marketing Plan and Strategy. I am keen to know all about it!!

The marketing strategy is only as good as the time you take to verify its effectiveness. Having the ability to identify if the goals you set have been reached or not lets you determine what needs to be used more or less and what needs to be optimized.

Optimization is the synchronization to make healthy syrup by combining it with all ingredients mixture. Setting a SMART goal can take your digital marketing strategy from a simple collection of tactics to one driven with purpose.

 

Why SMART goals are important in digital marketing?

Effective SMART goals can help marketing teams clarify their objectives, identify areas of improvement and create successful advertising campaigns. Using SMART goals in your marketing efforts may increase your overall revenue and improve customer relationships.

 

Digital Marketing is an amalgamation of many Tools Tactics and combinations of SEO Social Digital Email Branding Promotion Campaign Sales Advertisement BD CRM + more. So a decision must be taken aligning all sides into consideration 

So it will require an integrated measure to align with long and short-term goals and objectives too.

Keep a close grip on your marketing objectives, know your audience inside out, and stay rooted. 

A marketing team well-equipped with skills and supported top-down with the right resources can realize any goal you set for them.  

A goal is an achievable outcome that is generally broad and long term while an objective is shorter-term and defines measurable actions to achieve an overall goal. While different, the two terms are often used in unison when working on a project. This is because both are essential to planning and executing a project.

Plans entirely focus closely on an organization's long-term goals, which may take place over the next three to five years. Strategies handle upcoming or short-term goals that may happen shortly, usually within the year.

SMART marketing strategy under your organization’s long-term goals piecemeal to achieve… 

Objectives (Short-term) must be taken into an align with the light of long-term goals. To Identify areas of improvement you will require insights: 

Present KPIs data and future achievable improvement to drive. KPIs are numerical values that reflect the efforts of your marketing strategy. They also give you the information you need to make decisions that will help you make pivots when things aren’t going as well and help you celebrate all of the digital wins you’ll realize from your optimization efforts as follows:

1. Traffic from organic search

This KPI will give you an accurate gauge of the percentage of website traffic earned through organic search.

It's possible to attribute traffic flowing to your site generated by organic searches to your search engine optimization (SEO) strategy. 

2. Website or landing page conversion rate

Whether you've developed a dedicated (and great) landing page as part of your campaign or you're directing prospects to specific pages on your website, understanding how each is performing regarding conversions is essential.

Gaining a picture of your conversion rates and comparing these metrics to other pages on your site will help you identify potential weaknesses or capitalize on strengths. In doing so, you’ll be able to replicate this success elsewhere.

These metrics will also help you gain an understanding of how engaging, user-friendly, and value-driven your content is to target consumers:

·    Bounce rate

·    Average session length

·    Goal conversion rates: this is a metric designed to visualize when a prospect has completed a niche campaign goal such as subscribing to a mailing list or sharing a piece of content, among a raft of other activities, depending on your goals and aims

3. Cost per click (CPC)

CPC is a valuable digital marketing KPI as it offers a clear-cut pricing model that will help you to make your campaigns as effective and cost-efficient as possible.

This KPI will help you to visualize your average spend on your various paid marketing activities including pay-per-click (PPC), display ads, and retargeting.

The aim is to drive your CPC steadily over time which will result in more effective, efficient, and economical campaign activities. 

In this arena, here are two additional KPIs that you should track:

·    Cost per acquisition (CPA)

·    Customer lifetime value (CLTV)- this is the most important customer loyalty and retention FOCUSED factor that fosters long ongoing relations partnering with customers.  

4. Return on marketing investment (ROI)

As a data-savvy marketer, you will understand the importance of tracking the ROI for every one of your initiatives or activities. Your digital marketing ROI dictates how efficiently you are spending your budget on a particular campaign. By drilling down into this all-encompassing metric, you’ll be able to tell if your investments are yielding tangible results.

The higher the ROI means the campaign is achieving its goal. A solid ROI means that your campaign spending is effective. Should your ROI prove to be low, you’ll be able to drill down into your weakest areas and adjust accordingly.

 

For example- You are thinking of starting an advertising campaign on Facebook; you must select an objective first. Taking into consideration SALES is our PRIME objective.

KPI management is a process by which organizations monitor the performance of their metric goals and objectives against desired outcomes.

Five of the most common key performance indicators (KPIs)

·        Revenue growth.

·        Revenue per client.

·        Profit margin.

·        Client retention rate.

·        Customer satisfaction.

Conclusion:

Most importantly- to compare your campaign outcome is to measure the success with old performance. So it will require all old and new campaign data...

Set goals and stay focused

Set achievable and relevant goals before you start any digital marketing campaign. These could be related to ROI or other digital marketing KPIs and should align with your budget constraints and scope. As your campaign progresses, report on these metrics to see if there are any gaps or if each specific part of your campaign is performing well. These areas of opportunity can help refine your campaign or create an entirely new one that caters better to your audience.

Focus on the channels that work best for you

Focusing on fewer channels can result in a higher ROI. Identify the channels — such as social, SEO, PPC, or email — that work most effectively for your brand first. Then, think about how to reallocate your marketing budget in a way that maximizes your returns.

Test and optimize

Testing your marketing campaigns' work is the only way to know how well they work. Use variable tests to experiment with new copy, visuals, links, and more to narrow down what your audience responds to. Not only will testing improve current campaigns, but it’ll also give you a better starting point when launching new ones.

FOCUSED on Client retention and Customer satisfaction

Most Importantly- Marketing teams typically cultivate relationships with customers, because happy customers often recommend a brand within their social circles. You can use a SMART goal-setting process to evaluate your customer engagement protocols and inspire loyalty and retention the key to the long-ongoing partnering relationship with them. By reflecting on your customer service practices using a guideline, you can find new ways to personalize advertisements and conduct more successful sales events.

 

Facts:

Organic search is responsible for 53% of all site traffic, paid 15% [Study]

Key Points

·        According to Google’s Economic Impact Report, organic search is 5X more valuable than Google Ads.

·        Paid search is a good short-term marketing solution, but organic search creates long-term, compounding ROI.

·        Social media helps you build your brand, but organic search is what helps you target high-intent consumers.

·        Organic search doesn’t just drive qualified traffic and conversions, it also improves brand perception.

 

Retention ≠ Loyalty

Retention does not equal loyalty. 
A retained customer continues to buy from your brand. 
A loyal customer prefers to buy from your brand. They seek you out. They are your brand ambassador.

You can get people to come back and purchase again, thereby retaining them, but retention is a short-term strategy. It feeds into loyalty as a long-term strategy, whereby there is almost an emotional connection between the brand and the buyer.

 

SEO can deliver massive ROI. But, although digital marketing spending has steadily increased over the years, so have your options. As a result, online marketing dollars are split among various activities.

 

More Resources to read which I used to create this post:

https://www.wrike.com/blog/how-set-smart-marketing-goals/#How-do-you-set-realistic-SMART-goals-for-campaigns

https://coschedule.com/marketing-strategy/marketing-calendar-template

https://intigress.com/blog/digital-marketing/digital-marketing-smart-goals

https://www.indeed.com/career-advice/career-development/smart-goals-marketing

https://baba08.blogspot.com/search?q=customer+retention

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