Early Stage Marketing Programs Must Have Specific Goals to Have Any Chance of Success
Your overall corporate goals must be clearly understood before any marketing program begins. Here are four planning categories that must be identified before you start.
Revenue Goals: Revenue goals should be broken down by product and service line offering. For example, $1.7 million in products and $3.4 million in services. You need to document how many customers you will need to get to reach that number. If the average unit sale is $150 thousand, extrapolate that number to find out how many prospects you need to reach.
Market Share or Customer Acquisition Goals: If your market is so diffuse that you cannot estimate your specific share, than the metric needs to be how many new customers you need to attain. This will determine the strength of your program and how direct it needs to be.
Other Sales and Marketing Goals: What else do you need to achieve from a sales and marketing perspective for the program to be successful. For example, if you’ve targeted the Federal Government as a likely market for your products, being added to a defense contract team as a subcontractor would be a reasonable goal. Also, if you are looking to expand overseas, developing key channel partners in the selected countries might be necessary.
Other Business Goals: What else have you determined that is critical for your company to achieve in the year? Maybe it’s a hiring goal such as 20 new developers or three new sales managers. Perhaps winning certain industry awards that will add credibility to your new product.