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.
For more information on how to identify the best opportunities, see external and internal analysis for your marketing plan.
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.
Know your legal responsibilities
- Do you need a licence?
- Get the right business insurance
- Comply with the law when providing goods and services
- Know your customers' rights
- Distance and online selling rules
- Understand pricing legislation
- Buying goods from outside NI
- Selling goods outside NI
- GDPR compliance checklist
- Pay your business rates
- Understand staff contracts and your responsibilities
- Taking on contractors and subcontractors
- What you need to do about health and safety
- Know your legal obligations on pensions
Understand tax and VAT
Sell and market your products or services