You’ve committed countless hours to refining your craft. You meticulously designed a strategy for success and watched as the metrics improved in your digital channel(s). Your cost per lead has gone down, and the number of leads has skyrocketed. It seems you’re on top of your game. Yet, zooming out from individual success to a broader organizational perspective, a different narrative unfolds. How did things go astray?
Your strategy wasn’t aligned with the company’s overarching goal.
Sometimes the person you’re reporting to, whether that’s a client or your manager might not even understand (or have insight into) how their goal ties directly to the business goal. This is why you have to ask why. It’s critical to have an understanding of YOUR goal and how it rolls up to the business goal…or it could cost you.
When Marketing Goals Miss the Mark: A Personal Tale
In one of my previous roles, I encountered a situation that, unfortunately, isn’t uncommon. The marketing and sales teams, while vital, operated in silos. We had clear targets – reduce the cost per lead and increase the number of leads. On paper, we were achieving these goals, but (as you can guess) a larger picture emerged. Despite our success in lead generation, the company was missing its sales targets, including targets by product. Now, we did request lead to opportunity data and were unable to get it from the client.
This experience taught me the importance of persistently seeking clarity on business-level strategies. To understand how I got this right in the future, see how I aligned my content marketing strategy with my goals.
Subtle Indicators: The Sales and Marketing Disconnect
To be clear, along the way, the indicators were more subtle that things were amiss. You wouldn’t notice them on any dashboard or monthly report we had at our disposal, but instead, they were rooted in the intangible dynamics between the sales and marketing teams. Here’s how the misalignment manifested:
- Silent Accountability
- Post-lead generation, there was a clear sentiment that whatever transpired afterward was solely the sales team’s responsibility. This belief created a silent chasm where marketing felt its job was done once the lead was handed over, leading to a lack of ownership of how the leads generated might be affecting the sales team.
- Feedback Void
- The absence of regular feedback from the sales team meant marketing operated in an information vacuum. Without insights into the quality of leads or challenges faced during the conversion, marketing strategies remained uninformed beyond lead conversion.
- Assumption of Incompetence
- Due to the lack of communication, there was a lurking assumption that the sales team might be dropping the ball. Without concrete data or insights from sales, it was easy for the marketing team to inadvertently attribute missed sales targets to sales inefficiencies.
- Lost Opportunities for Optimization
- Without a clear understanding of the sales process post-lead generation, the marketing team missed out on opportunities to optimize campaigns. This could be in terms of lead quality, nurturing strategies, or even the channels used for targeting potential customers.
- Fragmented Goal Orientation
- Both teams, while working towards the company’s growth, ended up having fragmented objectives. The sales team aimed at converting the leads, while marketing aimed purely at generating them, leaving a grey area in between.
Addressing these subtleties requires more than just a strategy tweak; they call for a cultural shift. A shift towards open communication, shared ownership of the lead-to-sale journey, and collaborative goal-setting between sales and marketing.
Understanding Your Strategy’s Backdrop
Understanding the current state of affairs is essential to tailor an effective strategy. These are the questions you should ask:
- Revenue and Growth
- What are our revenue targets for this year?
- Over the next 3-5 years?
- How do we envision achieving this growth?
- Who forms the core target audience?
- This isn’t just about demographics but understanding their needs, behaviors, challenges, and aspirations.
- Who and what constitutes the competition, both directly and indirectly?
- Recognizing your competitors helps in distinguishing your offerings.
- What’s the valuation of an average customer?
- Understand the lifetime value and the potential revenue each customer brings.
- Priority Products/Services
- Which products or services are identified as key growth drivers for the company?
- Are there specific ones we’re emphasizing more than others?
- Growth vs. Scale
- Is the business currently more focused on growth or on scaling existing successes?
- What is the current marketing approach?
- Dive into the current platforms and approach employed across channels.
- How do customers move through the buyer’s journey from beginning to end?
- Understand the touchpoints and interactions of a customer.
- What technology stack is employed to streamline this journey?
- Technology can be a boon when used rightly, ensuring the journey is smooth and the analytics are clear.
Defining Clear Goals
For any marketing strategy to be effective, it must be rooted in clear, actionable goals. These aren’t just indicators of what you want to achieve; they also provide direction, motivation, and a framework for decision-making. Here’s a guide to setting well-defined goals for your marketing endeavors:
1. Timeline and Milestones:
- Every goal should have a clear timeline. When is the target date for achieving this? Break down larger goals into interim milestones, acting as checkpoints to gauge progress and adjust strategy if necessary.
2. Precision in Definition:
- Aim for specificity. Instead of a vague goal like “Boost our online presence”, go for “Increase website traffic by 25% over the next six months”. Quantifiable goals offer clarity and a definite target to hit.
3. Alignment with Business Objectives:
- Each marketing goal should be a reflection of broader business objectives. Whether it’s expanding into a new market segment or increasing product sales, marketing must support these overarching ambitions.
4. Grounded in Reality:
- Ambition is the driving force behind growth, but it’s essential to temper that ambition with realism. Assess your resources, current market conditions, and organizational strengths when setting goals. They should be challenging, yet attainable.
5. Prioritize for Maximum Impact:
- In scenarios with multiple objectives, rank your goals. Which, if achieved, would have the most transformative impact on your business? This prioritization ensures resources and efforts are channeled effectively.
6. Evolution and Adaptability:
- Markets evolve, technologies advance, and consumer behaviors shift. In this ever-changing landscape, revisit your goals regularly. Adapt and refine them in response to internal data insights and external market changes.
Setting Clear Expectations
For a marketing strategy to succeed, it’s crucial that everyone involved knows what to expect and when to expect it. Setting clear and realistic expectations can be the difference between a winning and losing strategy. Below are some key areas to consider:
1. Campaign Maturation Timeframes by Channel:
- Different marketing channels mature at varying rates. For example, while PPC campaigns might yield quicker results (90 days being typical), SEO efforts generally require a longer runway (6 months to 1 year). Understand the specific maturation periods for each channel to set realistic benchmarks for when results will become evident.
2. Typical Conversion Rates and Performance Promises:
- Familiarizing yourself with average conversion rates for your industry is valuable. However, it’s essential to approach any promises of definite results with caution. No marketer or agency can guarantee specific outcomes beyond adhering to best practices and a well-executed strategy. Over-promising and under-delivering is a path straight to failure.
3. Change Management Process:
- Transparency in how changes to the strategy are introduced, reviewed, and tested is vital. This iterative process ensures continuous refinement and adaptation to the market’s shifting dynamics.
4. Feedback Intervals:
- Regular feedback is the cornerstone of a successful strategy. Establish clear intervals for feedback sessions and strategy reviews. These checkpoints not only ensure alignment with set goals but also offer opportunities for timely adjustments and course corrections.
5. Roles and Responsibilities of Stakeholders:
- Clearly defining roles aids in streamlining the entire process. Decide who will be the primary point of contact for feedback, who’s responsible for decision-making, and any other critical roles. This clarity reduces overlaps and ensures smoother communication.
6. Budgetary Considerations:
- Financial clarity is critical. Understand the budgetary constraints at the outset and discuss how they might influence campaign choices, durations, and intensities.
The Importance of Reporting
To ensure you’re on the right track, maintain a clear view of your impact. While the tech stack provides metrics, understand them in the buyer’s journey context. Don’t settle for vanity metrics; seek concrete evidence.
It’s essential to link performance metrics directly to ROI, ensuring a clear alignment with primary business goals. This alignment enables the team to receive consistent feedback and continuously test and refine strategies for better outcomes.
Conclusion & Next Steps
Alignment of strategy with company goals is essential. Regularly review your approach, engage in discussions with your team, and ensure that everyone is on the same page.
As you move forward, remember that the most effective strategies are fluid. They adapt, shift, and evolve in tune with the company’s evolving goals.
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