What is the difference between goals, strategies, and tactics?
A goal is simply what a person or organization would like to accomplish (an outcome). A strategy, however, is the approach taken to achieve this goal. And tactics are the tools used to fulfill the strategy (Belicove, 2013). As you can see, while there is a difference between goals, strategies, and tactics, they’re also quite connected to one another.
What is the importance of setting SMART goals when creating a marketing campaign? What questions should be considered?
SMART is defined as a best practice framework for setting goals (Rouse, 2018). It’s important to use this structure when creating a marketing campaign as this helps to ensure the goals for it are S=Specific, M=Measurable, A=Attainable, R=Realistic/Relevant, and T=Timely. Essentially, companies often use SMART to set specific marketing goals, measure them through key performance indicators (KPIs), assess the attainability of these objectives, verify what they’re proposing is relevant and practical, and, of course, for setting short and long-term goals. And by aligning their goals with achievable metrics, the company will remain focused, effective and efficient, which is vital for a successful campaign.
Furthermore, when setting SMART goals, some questions that could be considered are:
- What do you want to accomplish in this campaign?
- What qualitative or quantitative attributes from this campaign can be applied to create a metric?
- Are these goals achievable? In other words, is it in your power to accomplish them?
- Are the goals relevant to the campaign and can you realistically achieve them?
- Can these goals be met by a specific date?
Provide examples to portray how marketing tactics align to strategies in order to support set goals.
As many are aware, it’s essential for marketing tactics to align with strategies to support a set goal. An example of this is a company’s objective being to increase sales revenue by 25% by the end of the year. Their strategy could be to encourage repeat purchases from existing customers. To do this, the company’s tactic might be to include coupons in all the orders they send out for a month. Or the company’s strategy could be to engage the target audience at a precise moment. And to do that, they might use various tactics, including running TV or ads on social media during critical hours of the day, such as lunchtime (“Marketing Strategy vs. Tactics,” 2016).
How can you ensure that your SMART goals are met using key performance indicators (KPIs)? Explain using examples to support your rationale.
Key Performance Indicators (KPIs) can be thought of as the critical indicators of progress toward an intended result. And companies can ensure the SMART goals set for a campaign are met by using KPIs. For example, if they want to track the success of the ad through Facebook, they could do so by using social media metrics and KPIs as this would reveal relevant information, such as likes, social shares, engagement, etc. Or if they wanted to track the campaign through email, they could use email marketing metrics and KPIs. Doing so would shed light on subscribers and reveal how effective email marketing campaigns are at engaging their target audience (“Marketing Metrics and KPIs,” 2018). Overall, KPI’s are essential as they provide insight into what tactics are and are not working, which the company could then use to make improvements.
Belicove, M. (2013, September 27). Understanding Goals, Strategy, Objectives, and Tactics in the Age of Social. Retrieved from https://www.forbes.com/sites/mikalbelicove/2013/09/27/understanding-goals-strategies-objectives-and-tactics-in-the-age-of-social/#706110c54c79
Marketing Metrics and KPIs. (2018). Retrieved from https://www.klipfolio.com/resources/kpi-examples/marketing
Marketing Strategy vs. Tactics – Explaining the Difference. (2016, October 16). Retrieved from http://charliesaidthat.com/digital/digital/difference-between-marketing-strategy-vs-tactics-an-example/
Rouse, M. (2018). What is SMART? Retrieved from https://whatis.techtarget.com/definition/SMART-SMART-goals