Advice to the Newcomer

When creating your own integrated marketing campaign there are so many points to consider the ever important question of “Where do I begin?” While this question is important you need a moral and ethical compass to guide you!

The American Marketing Association (AMA) was designed to bring an ethical compass to marketers of all types. With the formation of the AMA a code of conduct was established in order to provide guidelines to adhere to in all marketing endeavors. The AMA incorporated values such as Honesty, Responsibility, Fairness, Transparency, and Citizenship.

Honesty in what products you offer and stand behind. Striving to be truthful in all scenarios and situations while also honoring promises and commitments made to customers

Responsibility to operate in a fair manner and to accept the consequences of what you accomplish, but also, fail to accomplish.

Fairness in balancing your needs as well as the customers you market to. This includes being clear and unambiguous in what you offer and the manner in which you offer it in. This includes all stakeholders. The old fashioned principle of treating others as you wish to be treated encompasses this value.

Transparancy in all facets of your operation to include the customers, suppliers, employees etc. If an issue is brought to your attention that needs to be fixed or if during production a safety hazard is discovered, one should be transparent in communicating this to all who are involved.

Citizenship in fulfilling our obligation to the environment and to those work for you and purchase your product. When you give back to the community and value everyone involved with your pursuits, you build community partners.

Potential Concerns

What if my team fails to abide by these values and practices? This may be tough at first, but you mush always remember your position and responsibility to everyone involved. Failure to enforce these practices and the code could result in state and governmental repercussions. It’s called the harder right over the easier for a reason. Though some calls may be tough to make, you are ultimately saving your company and its workers from paying a much higher price due to violations. Bad publicity, legal allegations, bankruptcy and the end of your company are just some of the more serious consequences that could await due to the inability to make a tough call that is ethically correct.

In the end

Remember you now have a much higher obligation to others. The pursuit of your goals comes with heavy responsibilities, keep these in mind throughout your pursuit and stick to your ethics compass.

SMART Goals in Marketing

What is the difference between goals, strategies, and tactics?

Choosing a goal can be one of the hardest things to start with in any pursuit. Sure, we all have goals in mind, but how do we set clear and attainable goals while also ensuring that we can track our progression?

Simply stated, a goal is a distinct achievement made that identifies the end result of an action or several actions. It is something that is made to provide a clear end state. It can be personal, business related or even both. Every goal needs a plan however, more commonly known as a strategy. Now when it pertains to the strategy, that’s where our tactics are embedded. Since strategies provide objectives to achieve the goal, tactics involve actions that are needed in order to execute the strategy effectively. Confused? Don’t be.

Corporate Finance Institute

 What is the importance of setting SMART goals when creating a marketing campaign? What questions should be considered?

SMART goals in marketing are those that provide a specific benchmark that can be measurable, are attainable and realistic, and are set to be achieved within a certain amount of time. They provide a clear framework in how your goals should be structured in order to streamline, track, and achieve your identified goal. If your goal doesn’t make sense or cannot fit into this framework it should be a clear indication that your goals need to be refined a bit more. In marketing time is literally money and you want to ensure that you’re setting yourself up for success with clear goals that make sense and are clearly understood.

Provide examples to portray how marketing tactics align to strategies in order to support set goals.

In this example we will focus on a company that is trying to increase visitors to their website in by increasing search engine traffic by 30% in the next three months. Our goal is specific since we clearly stated what we want to do. For it to be measurable we will review our most popular posts, review comments, revamp them to include new links, images etc. and then publish new content based on what was most popular. For this scenario we can also use Google business analytics to see how much traffic we are gaining in this effort. In terms of being attainable, our goal of 30% in three months averages out to 10% per month which is also achievable. Our goal is also relevant and realistic in trying to achieve more internet traffic. Our goal is not focused on sales just yet, but more so generating buzz surrounding our site and brand name. In relation to time, we have set a period of three months to achieve this goal. NOW in our example our goal was to attain 30% more internet traffic in a period of three months. Our strategy was to identify our most popular posts, revamp, and post similar revamped and updated posts. The tactics associated with this strategy would be to review comments, add new images, links, and publish new content.

 How can you ensure that your SMART goals are met using key performance indicators (KPIs)? Explain using examples to support your rationale.

Ensuring that your SMART goals are met can be a bit tricky depending on your stated goal, but through the use of key performance indicators (KPI’s) we are able to monitor, track, and measure values that enable us to gauge the effectiveness and progress of our goals. We’ll use our scenario mentioned earlier to discuss KPI’s. In our scenario we stated the overall goal of achieving more internet traffic to our website. If you remember I mentioned the use of Google Business Analytics as an example of the type of resource that can measure our website traffic. Through our chosen provider we are able to see the number of searches, times of the day we generate traffic, +/- in new visitors and many more statistics related to our site. This service provides a key performance indicator that we are able to use in order to measure the success and effectiveness of our strategy and tactics. While our example utilized Google, there are other ways to provide KPI’s using internal sources. An example of this would be a company that uses their sales team to track revenue, average deal sizes, and the average number of sales daily/weekly/monthly. This information might be useful in gaining an understanding of the busiest times of the year and trying to capitalize on such times.

References

Corporate Finance Institute. (n.d.). SMART Goal – Definition, Guide, and Importance of Goal Setting. Retrieved from https://corporatefinanceinstitute.com/resources/knowledge/other/smart-goal/.

Handrick, L. (2019, July 25). 27 Best SMART Goals Examples for Small Businesses in 2019. Retrieved from https://fitsmallbusiness.com/smart-goals-examples/.

Kipfolio Inc. (n.d.). Marketing Metrics. Retrieved from https://www.klipfolio.com/resources/kpi-examples/marketing.

Reh, F. J. (2019, June 2). How Key Performance Indicators Work. Retrieved from https://www.thebalancecareers.com/key-performance-indicators-2275156.

Schrader, C. (2019, November 21). Setting Effective SMART Marketing Goals: Examples and Framework. Retrieved from https://www.conductor.com/blog/2018/05/smart-marketing-goals-examples/.

Design a site like this with WordPress.com
Get started