Strategy

Setting SMART Goals

Obviously, the goal of every online retailer is to sell more products. But simply increasing sales is too broad of a goal of creating an optimal channel mix strategy. You have to look a little deeper and explore the specific, supplementary goals that influence the bottom line. And as you'll see, the right digital marketing channel mix can help you address multiple objectives. For instance, your strategy could be to accomplish one or more of the following:

  • Build brand awareness
  • Improve ROI
  • Acquire new customers
  • Attract more mobile traffic
  • Expand into new digital marketing channels
  • Grow social presence
  • Increase site traffic
  • Drive traffic to physical stores

Every retailer has a unique set of circumstances - like budget, vertical, current brand recognition and even data-feed quality. As a result, you'll need to take a close look at your own situation before determining what you want to accomplish with the digital marketing channels you choose.

One common practice that will help you organize your objectives is to follow the SMART process of setting goals: Specific, Measurable, Achievable, Relevant, Time-Bound. Following this simple breakdown, your goals should be:

  • Specific: Clearly and concisely explain what you're trying to achieve. Who? What? Where? Why?
     
  • Measurable: How will you define success? How will you evaluate whether the goal has been met?
     
  • Achievable: Is your goal realistic and feasible? Do you have control over it?
     
  • Relevant: Do your goals tie into your overall objectives?
     
  • Time-Bound: Do your goals have dates and deadlines? What is the timeline? (Include deadlines, dates and frequency.)

Once you've clearly defined and prioritized your goals, it's time to lay out a plan of attack. And having a solid understanding of how each digital marketing channel works is the next step in developing your plan.

0
Your rating: None
0
Your rating: None