5 Steps to Help You Develop Actionable 2022 Marketing Goals — A Client’s Strategy
Are you in the process of developing your 2022 customer-focused marketing strategy? Recently, I worked with a client to create their marketing strategy for the coming year. We held leadership strategy sessions throughout the process to ensure we gained not only buy in from each department, but support for the marketing strategy.
We touched on and discussed many aspects throughout the process; go to market, support, product features and so on. The methodology had the team thinking in new ways as well as maintaining a strategic focus for the coming year.
You may find my process beneficial as you work through your planning.
1. Use the Information
As we worked through the marketing strategy, my client began to realize that the strategy is something that we’ll continue to reference throughout the year. We captured valuable information about their product, competition, the target audience as well as customer feedback, to keep the document evergreen. All the data and information was then used to support the initial marketing goals that we defined.
2. Business, Sales, Marketing Alignment
As a marketer or company leader, it’s imperative that your marketing goals are aligned and support your sales and business goals. These goals are the first items listed after the executive summary in my client’s marketing strategy. As we worked through an initial list of 10 goals for the year, we continually referred back to the company and sales goals to ensure we were in alignment. One of their business goals is to expand business within a specific market, the sales goal is to create an effective channel to reach that market, and our marketing goal is to support the channel and create programs for the market expansion.
Your key marketing objectives should not only be reinforced by what is in your plan, they should support the overall objectives of your company.
3. Where Does the Product Line Fit?
During our strategy sessions we uncovered a variety of customer types. Local gyms, large school districts and multi-national corporations to name a few. At one point we had over 11 industries listed as potential targets. Sounds like a great opportunity, right. Well…
That’s not doable, even for most Fortune 500 companies.
We evaluated the customers, their feedback, the potential within each of the markets and reviewed what is the best fit for today’s offering. We discussed the plan for new features that would be released in six to 12 months but agreed to sell what they have in their portfolio today that would benefit their prospects. Feature enhancements could potentially positively impact revenue in the third or fourth quarters, which is always a good thing.
4. Your Current Customers
My client spent time and money building their customer base, what we call acquisition. One area that they hadn’t considered previously was setting goals for customer retention — reducing attrition rates. They also did not contemplate the impact of growing their revenue within the current customer base.
We reviewed recurring revenue (including their target attrition rate) which impacts their target revenue goals, as well as defined marketing goals to improve retention.
Don’t forget about the opportunities you have to grow your current customers’ spend with your company.
5. What Will You Avoid?
Throughout the marketing strategy process we captured great ideas, discussed their feasibility, and then determined if they were applicable. Many were not a good fit for the 2022 strategy due to internal resources, target markets and timing. Some of the ideas will be considered for future plans assuming the company achieves the 2022 goals.
We noted the programs and ideas that might be useful for future planning. As you work through your marketing goals, capture the reasoning behind why you did not choose a particular program or direction. This will save time when a similar idea is recommended in the future.
Stay Focused. You’ll Achieve Results.
There may be unexpected changes in the industry that will necessitate adjustment to the marketing strategy. With ongoing communication among department leaders and team buy in you can stay the course to achieve your marketing, sales and most importantly your business goals. Quarterly reviews of sales and marketing goals and results allow for fine tuning to keep your plan on track.
How are you developing actionable marketing goals? What’s you secret sauce for team buy-in?
Leave a comment, share the post, visit my website www.KimberlyMeyers.com or call me direct 646.320.8854 for more information. Let’s connect.
Kimberly Meyers is the principal at Kimberly Meyers & Associates, a marketing consulting firm. Kimberly is a Marketing VP for hire. She develops marketing solutions based on strategic assessment of her client’s business, sales and marketing requirements. She lives by the philosophy of ensuring the appropriate message and content is delivered to the target audience – always, focusing on customer needs and satisfaction. Kimberly welcomes your connection at email@example.com.