I'm going to show you how to set your marketing goal and objective better than 99% of the marketing pros out there, for free. Hey y'all, welcome back to our digital marketing strategy planning series. Last time, we said marketing funnels are dead, and marketing loops are the future. Now it's time to set your SMART marketing goal—plus one super important thing that you have to ensure to get financial success in your marketing. 99% of marketers never do this, and that's why marketing campaigns can look nice but they fail. Stick around till the end to find out what it is. Subscribe and hit that bell so that you don't miss the next video in our series.

Is Your Marketing Goal S.M.A.R.T.?

• Specific: Vague goals like raising brand awareness or creating a new campaign won't cut it. You've got to define things like how much, by when, and for which products or services you're going to be offering.
• Measurable: Measurable goals give you concrete benchmarks so you can track your progress and success. For B2B business marketing, you need a baseline: how much did you make in the past from your digital marketing efforts, and now you can measure against your new digital marketing efforts to see if you have achieved success.
• Achievable: Find the sweet spot between ambition and feasibility. Look at your current resources, capabilities, and market conditions to ensure that your goal is challenging yet achievable.
• Relevant: Your marketing goal must directly be tied to market expansion, revenue growth, or customer retention, or else why do it?
• Time-bound: Your marketing goal has to hit sales targets by a certain fixed deadline, or else it's going to be useless. Pick a deadline for your goal.

But just because your marketing goal is now SMART doesn't mean that you're good to go. 99% of marketers miss this critical important next step. That is, reverse engineering your SMART goal into marketing objectives. Without that, you're going to fail.

Reverse Engineer Your S.M.A.R.T. Goal into Marketing Objectives

Say you're a B2B company with revenues of $10 million, and your SMART goal is digital marketing will increase sales by 12% or $1.2 million in the next 12 months. Yay, it's SMART! Now let's reverse engineer that SMART goal into a marketing objective that your digital marketing can actually affect. To do this, you're going to need your average order size and your sales team's close rate. In this example, we'll use $20,000 as the average order size and a 20% close rate. If your goal is $1.2 million over 12 months, then that means it's going to be $100,000 a month that you're going to need in sales. If your average order size is $20,000, that means you need 5 deals to close each month. And if your close rate is 25%, then that means you're going to need 25 qualified leads each month. And that is your digital marketing objective. It's crystal clear and quantifiable.

Now how will you actually get those qualified leads? By ensuring we identify your target audience really well and ensure that we don't fall into this one trap that many marketers do all the time. And that trap is... in the next video. Thanks for watching. Subscribe, like, and share. I'm Ted Lau, I'll see you next time. Bye.