Your marketing objectives should be based on understanding your strengths and weaknesses, and the business environment you operate in. They should also be linked to your overall business strategy.
For example, suppose your business objectives include increasing sales by 10 per cent over the next year. Your marketing objectives might include targeting a promising new market segment to help achieve this growth.
Objectives should always be SMART:
Specific - for example, you might set an objective of getting ten new customers.
Measurable - whatever your objective is, you need to be able to check whether you have reached it or not when you review your plan.
Achievable - you must have the resources you need to achieve the objective. The key resources are usually people and money.
Realistic - targets should stretch you, not demotivate you because they are unreasonable and seem to be out of reach.
Time-bound - you should set a deadline for achieving the objective. For example, you might aim to get ten new customers within the next 12 months.
Your marketing plan is your marketing strategy in action