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22.3.10

Marketing objectives, budgets and deadlines


An effective marketing plan must set clear objectives that will help you towards your longer-term strategic goals. Where your marketing strategy includes targeting a particular customer segment, for example, your marketing plan should have specific, measurable objectives for helping you achieve this goal, such as increasing sales by a target percentage. Setting deadlines and agreeing marketing budgets to work with helps you focus on your priorities and commit to achieving them.

You should make sales forecasts and targets a key part of your marketing plan and feed them into your overall business plan. But other performance measures could be just as important. For example, you might set targets for numbers of enquiries, numbers of new customers, average transaction value, and so on.

You can choose targets like these to reflect your strategic goals. They can also help you identify where your marketing is - and isn't - working; for example, if enquiry levels meet targets but sales do not.

Text by:http://www.marketingdonut.co.uk/marketing/marketing-strategy

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