The top 7 marketing plan objectives for any startup strategy
The top 7 marketing plan objectives for any startup strategy

The top 7 marketing plan objectives for any startup strategy

19 December 2018
Marketing is becoming increasingly difficult. Consumers have more variety and options than ever before to spend their money on, and competition is everywhere. No marketing strategies are set in stone anymore because of the constant change and shifting in market conditions. However, setting marketing strategy objectives on a regular basis should remain a constant. Any effective marketing strategy needs to keep in mind clear marketing objectives and goals in order to achieve success. When setting objectives, these must be SMART (specific, measurable, achievable, realistic and time-bound).

Here’s an example of a typical start-up marketing plan objective: To increase the number of active users

This is good, but it’s not specific, measurable, or time-bound.

Here’s an example of a SMART marketing plan objective: To increase the number of active users by 15% by December 2019

This objective is specific and measurable (increase by 15%), It’s also achievable and realistic (you’ll be the judge of what’s realistic and what’s not for your own business) and most importantly it’s time-bound (by December 2019). This all means you and your team know what is expected, agree on the target, and can be held accountable to that. It also means you can regularly measure throughout your marketing campaign whether or not you are over or underachieving.

There are a number of different themes that could make up your marketing objectives, and you may have more than one at any given time. Here are seven different themes for your marketing strategy objectives which we think are most likely to help your startup achieve success, and to give you a fighting chance in today’s commercial landscape.

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Brand Recognition

In order to be a successful startup and achieve scalable growth people need to know who you are. You can’t just rely on your product selling itself, you have to put yourself out there and make sure as many target customers have heard of you as possible. The more people recognise your brand, the more successful you will become.

How to measure this objective

  • Social Media Following
  • Earned Media
  • Direct Website Traffic
  • External Links
  • Blog Shares

Become a favourite

Following on from brand recognition the next step is to become your target customers favourite. If customers favour your brand there is a high probability that they will return and buy from you again. If you are just another company amidst your competitors, it will be a very challenging task to attract your target customers. This type of marketing objective may not be as relevant to companies who offer cheap products or services, as their target audience will be making their decisions based solely on price, so favourability wouldn’t be a determining factor at all because the only important aspect would be competitive your prices are. However, for the majority of startups becoming favourable to your target audience is an essential objective.

How to measure this objective

  • Social Engagement
  • Returning Website Visits
  • Customer Sentiment
  • Positive Reviews

Earn your customers trust

Earning the trust of your customers is one of the most important and relevant marketing strategy objectives. If you manage to succeed in building trust with your customers not only could you secure returning customers but also potentially create brand ambassadors. Find out how to build trust and win over your customers in our articles below…

12 ways to build brand credibility

6 effective ways to collect customer feedback that will grow your business

It’s not uncommon to see customers who like a product, or who even prefer it to their regular brand of choice, turn it down when it comes to paying and instead go with their trusted, “old-faithful” alternative. The good news is you’ve probably made a start on building trust with your customers through your positioning statement – where you highlight proof of trust and reasons to believe in your brand. If you missed this article you can follow the link below…

5 steps for creating the perfect brand positioning statement

How to measure this objective

  • Customer retention
  • Net promotor score
  • Referral rates
  • Recommendations
  • Positive Reviews

Encourage your customers to try your product

Reflecting on what we spoke about previously, we are creatures of habit, and when it comes to buying products or services we have a tendency of buying what we are used to and what we trust. A great marketing strategy for startups is to encourage potential customers to try your products for free, this is also an effective marketing strategy for a new product launch. We all love a freebie, and if you’re offering to give away a free sample, product or service it shows confidence in your product. Encouraging customers to try your product is also a great way to increase your brand awareness, show your generosity and even (potentially) receive valuable feedback. Then you can use any positive testimonials from your customers as social validation to further promote your product.

How to measure this objective

  • Website downloads
  • Lead generation
  • Trial requests
  • Sign-ups

Encourage customers to buy the product

This is one of the most common and widespread marketing strategy objectives because without paying customers your business will never build sustainable growth and it will quickly run out of cash. Here are some startup marketing strategy ideas that will help you generate more leads.

1. Keep your customers engaged

Email marketing is a great way to check in with your customers and to let them know you haven’t forgotten about them. You can educate them on what makes you great, entice them with upcoming deals or events and even offer them social proof of how many other customers use your products or services. Emailing your prospects is a great way to give them a little nudge down the purchase path and helps keep your business on their radar.

2. Use testimonials to build trust with your customers

Testimonials can be a very successful way to attract new leads. As we’ve spoken about previously, trust can play a huge role in a customers decision of who to buy from. So if a potential lead comes across a website or social media channel full of positive reviews from happy customers they will be much more inclined to buy from that company. Read our article below to find out how to collect customer feedback.

6 effective ways to collect customer feedback that will grow your business

3. Create urgency to tempt customers off the fence

If your customers are still on the fence and look pretty comfortable up there, try enticing them off with the short-term discount, deal or even an interest-free finance plan. Make your discounts or deals urgent, say they are only available until a certain date, or only available to a limited number of customers who are rewarded on a first come first serve basis.

A common mistake we see with companies who try to achieve these types of marketing objectives is that they fail to communicate it clearly through their marketing strategy. Make sure your marketing has a call to action and that your objective is clear throughout your marketing campaign.

How to measure this objective

  • Conversion rate
  • New customers
  • Sales figures
  • Revenue

Encourage repeat purchases

Putting a bit of time and effort into returning customers is worth your while. Not only is it easier to sell to a returning customer it’s also much cheaper than attracting new clients, so focusing your marketing more towards existing customers will give you a much better return on your investment.
Think about your customers, what have they already bought from you? Is there a service or additional product your customer could use that might complement their existing purchase? For example, maybe your customer purchased a phone, a good salesperson might ask them how they are going to protect their phone and show them a variety of phone cases that are available, or maybe different insurance options available. Selling additional products is an ideal way to increase your profits. It is very common for businesses to base their marketing strategy around this exact objective.

How to measure this objective

  • Retention rate
  • Lifetime value
  • Average order value

Get your clients recommending you

The best kind of marketing is when other people do it for you. Recommendations are a very powerful and effective way to advertise your business. If your product is good customers will be much more likely to recommend it to friends and family, however, this may not always be the case and they might need a bit of encouragement to recommend your service. A popular approach amongst businesses is to give customers a good incentive that will make sharing the product irresistible, and as a result, customers will refer as many people as possible. You can read more about growth strategies in our article below.

Three foolproof ways to grow your business fast

How to measure this objective

  • Net promoter score
  • Campaign tracking
  • Customer journey tracking

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    2024-06-27T12:02:54+00:00December 19th, 2018|Categories: Growth, Advice|