From SMART to SMARTER marketing objectives: Discover how to define marketing objectives, measure your digital marketing goals, and use data to inform your marketing strategy
When identifying specific marketing objectives to support your long-term goals, it is common practice to apply the widely used SMART mnemonic. You will know that SMART is used to assess the suitability of objectives set to drive different strategies or the improvement of the full range of business processes.
By definition, an effective SMART marketing objective is:
Specific, measurable, actionable, relevant, and time-bound.
One of the main reasons we called our site and service SMART Insights is because we help marketers succeed through using a more structured approach to their marketing strategy and planning.
We've got marketing tools and techniques to support you in defining and measuring your marketing objectives, so you can use data to inform your marketing strategy.
If you're looking for a winning marketing strategy to…
Digital marketing is more important now than ever. Take steps to create, streamline, or optimize your marketing strategy today and accelerate your results in the coming year
Where do you start if you want to develop a digital marketing strategy? It's still a common challenge since many businesses know how vital digital and mobile channels are today for acquiring and retaining customers. Yet they don't have an integrated plan to support digital transformation and company growth, and engage their audiences effectively online.
If your business doesn't have a strategic marketing plan you will suffer from the ten problems I highlight later in this article and you will lose out to competitors who are more digitally savvy.
For each of the ten problems, I will also recommend marketing solutions and next steps to help you optimize your marketing strategy to win more customers in 2022.
What is digital marketing?
Digital marketing, specifically, refers to 'Achieving marketing…
How to use Segmentation, Targeting, and Positioning (STP) to develop marketing strategies
Today, the STP marketing model (Segmentation, Targeting, Positioning) is a familiar strategic approach in modern marketing. It is one of the most commonly applied marketing models in practice, with marketing leaders crediting it for efficient, streamlined communications practice.
STP marketing focuses on commercial effectiveness, selecting the most valuable segments for a business and then developing a marketing mix and product positioning strategy for each segment.
As Martech continues to develop, so do opportunities for segmentation, targeting, and positioning. So whether you're brand new to STP or a seasoned veteran, it can be useful to take stock and double-check you're utilizing every chance you get to reach, interact with, convert and engage customers.
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Use our digital marketing strategy template integrated across the RACE Framework to plan and get ahead in your digital marketing
We all know the old saying “if you fail to plan, you are planning to fail”, but when it comes to digital marketing, this really is the case. It has never been more important than it is now to create a digital marketing strategy template so you can plan, manage and optimize your online activities.
Today, digital media is vital when it comes to driving leads and sales, meaning marketers need to understand how best to engage and convert online audiences. Despite this, our research shows that many businesses still don’t have a digital marketing plan.
As a result, companies are missing out on the benefits of having a digital marketing plan integrated into their overall marketing plan or as a separate roadmap for digital transformation. At a time when marketers are increasingly…
7 steps to creating an effective marketing plan
A marketing plan is a bit like a job description for your company. Everyone should have one, but they’re often not fit for purpose, out of date and reviewed infrequently... Research has shown that businesses with plans succeed, outperform competitors, and retain staff, more than those with no plan.
Without a plan there’s no direction for the company or its employees, decisions can be uninformed, opportunities can be missed and threats can damage or destroy the business.
Whether you are looking at creating a traditional marketing plan or a multichannel digital marketing plan, here are the seven steps to creating a marketing plan.[si_blog_banner_cta]
What is a marketing plan?
A marketing plan is your place to document the process of managing and optimizing your digital marketing strategy and creating a roadmap for future growth and business development.
This includes setting SMART objectives, vision for digital…
What is PR Smith's SOSTAC® marketing planning model, what is the RACE Framework, and how do you use them to win more customers?
If you don't know PR Smith's SOSTAC® model, it's worth getting to know if you're involved with planning marketing strategies or campaigns. SOSTAC® was voted the third most popular model in the CIM poll on marketing models because it's easy to remember and it makes it easy to structure plans for different planning activities.
So, whether you're creating an overall marketing or digital marketing strategy or improving individual channel tactics like SEO or email marketing SOSTAC®, is your friend. In this article, we will talk through applying the SOSTAC® planning model to your marketing strategy, with the RACE Framework.
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9 pointers for strategic marketers to implement and benefit from cross-channel marketing
What is cross-channel marketing?
Cross-channel marketing is a customer-focused digital marketing technique used by marketers globally to provide an integrated experience across all paid, owned, earned media, and digital experiences.
It is a powerful way of designing your marketing strategy and implementing data and analysis to create omnichannel customer journeys towards your goals.
Implementing a cross-channel marketing strategy can be a little intimidating. You need to take care of multiple channels while designing your campaigns.
Keeping track of every campaign and integrating their analytics is certainly not an easy task. That's where our RACE Framework comes in.
So, before we dive into cross-channel marketing, let’s take a moment to assess your business' marketing needs. Did you know you can book a free 1-2-1 membership consultation to discuss your objectives in the context of our omnichannel…
Without setting clear marketing goals, you’re basically directionless – and working to achieve vanity metrics that don’t necessarily help you achieve your overall business objectives
Marketing goals underpin all marketing strategies. After all, how do you know what you're working towards without clear, actionable, and achievable metrics? Setting marketing goals should always be the priority as they will be the basis of your entire strategy.
By achieving your digital marketing goals, you’re also helping reach your overall business objectives, whether that’s boosting your overall sales or improving awareness of your brand.
Setting strategic goals is, on one hand, a great way to motivate yourself and your team and work towards achieving better results for your business.
On the other hand, objectives and KPI-setting is about much more than just saying “I want to achieve that and that” – it’s how you can develop a plan or strategy that will help support your vision and…
What are the essential parts of a multichannel marketing plan template?
Multichannel marketing, or omnichannel marketing, is the process of utilizing online and offline marketing communications channels to target and engage with your customers.
As outlined in our popular Learning Path module, structure a plan using the RACE Planning framework, the purpose of a multichannel marketing strategy is to empower marketers and managers to plan, manage and optimize the resources needed to achieve business sales targets. The timeframe is typically annual but potentially longer-term, such as 18 months to three years.
Examples of communications channels could include, for example:
The goal is to deliver leads and sales targets for defined products and services, which can apply to an organization as a whole, or a single market if there are multiple markets and product or service categories.
An effective omnichannel approach to marketing…
How to strategically manage your marketing spend in 2022 with 8 integrated marketing budget templates
Setting strategic and channel direction, working toward commercial objectives and KPIs and monitoring success is great, but if you're not tracking your ROI per channel it's hard to understand how much money you've had to spend to see a return. That's why you need a practical, accessible marketing budget.
How much budget is allocated to marketing?
According to the February CMO survey, marketing budgets were expected to grow 6.7% in 2020. However, the July edition found the real-term figures had shrunk in the wake of the pandemic and global recession, equating to a rise of 1.6% in marketing budgets overall over this year.
In a competitive environment for marketers, reporting and forecasting marketing spend is more important than ever. Meaning if you can't prove a tactic has been successful, it will be even more difficult…