Goal Setting For Business: Start 2018 With A Bang
Thanks to months of premature decorating, there’s no escaping Christmas is coming. I may not have achieved my 2017 dreams of marrying Ryan Gosling and inheriting $20m from a distant cousin twice removed, but hey, there’s always 2018! Like our personal new years’ resolutions, now’s the time to consider goal setting for business, so your brand starts the new year with a bang.
Unlike those declarations you are likely to do nothing about, (I’m not too proud to beg. Call me, Ryan!) developing smart business goals can be the difference between a year set-up for success and one that fizzles out like Justin Bieber’s music career (ok wishful thinking, but you know what I mean). Defining clear objectives for the coming year is the first step to achieving them.
Any successful business owner or entrepreneur knows that in order to get where you’re going you need to find a path to take you on your journey. Whether you’re in the exciting start-up stage or your business is ageing like a fine wine, the end of the year is the best time to set the direction or check you’re heading the right way.
Read on to discover how to start goal setting for business for a successful year ahead.
REVIEW THE PREVIOUS YEAR
We’re not talking about pulling all the reports and data from the previous year and reviewing them – that should go without saying! What we’re suggesting is getting your whole team together – from your admin to warehouse, customer service, sales and more – and having an open discussion about how each individual felt about the previous year’s results. And what they want to achieve for the coming year.
This can also involve assessing the roles and responsibilities each person enjoyed and what they didn’t. And it may be worth tailoring your service offering or roles to focus on what the staff liked doing the most. A happy team is a hard-working team!
Reinvigorate the team’s excitement about the brand’s objectives and recommit to the long-term mission you collectively established to begin with. Or if you’re just starting out get the new team together to establish your mission and vision for the company and set the foundation for the coming year.
SET SMART METRICS IN YOUR GOAL SETTING FOR BUSINESS
It’s simple really. You need to decide what your business wants to accomplish in 2018 before you can devise a plan to get there. You want to grow your business and be successful, and make those dollar bills, yo! But articulating exact objectives can sometimes be challenging without a formula. That’s where your SMART metrics come in to save the day.
Using the SMART goals metric has a heap of benefits. Company-wide it provides direction and increases focus and motivation. It also encourages group cohesion and enhances the individual worth of each employee. The metric creates an atmosphere that can boost productivity towards a common goal.
For goal setting for business in 2018 the SMART Metrics are:
SPECIFIC – Specific goals are detailed goals. Instead of simply saying you want to provide better customer service this year, set a goal of increasing the customer satisfaction score to 90%.
MEASURABLE – Your goals need to be measurable, not subjective. Eg. A subjective goal would be trying to measure someone’s happiness – you can’t. A measurable goal would be to increase your website’s monthly conversions by 75% from the same time of the previous year.
ACHIEVABLE – If the goal’s impossible why would anybody bother trying to achieve it? Instead of aiming for a 320% increase in Facebook Likes, set a monthly amount that’s attainable for your business.
RELEVANT – Make sure everything you do ties into the direction you want to head. There’s no point getting more engagement on Twitter if it’s a barely used forum that doesn’t appeal to your target market.
TIMELY – It’s pretty self-explanatory; set the specific date you want to have achieved that goal.
TURN YOUR GOALS INTO MARKETING OBJECTIVES
Excellent work on defining your goals for the year! Now you need to work out what actions you need to take to make achieving them possible. These are called your marketing objectives. Planning ahead is the best way to stay on track and increase the success rate.
Different goals will have different marketing objectives. Marketing in 2018 has a lot of options. Digital marketing itself includes big data marketing, content marketing, conversion rate optimisation, email marketing, mobile marketing, paid search marketing, online PR, influencer marketing, SEO, social media and more.
For instance, if you’ve set a SMART metric goal of increasing the online sales of a product targeted at millennials, the marketing objective could be to develop a paid Snapchat awareness campaign targeted to the 18-25 age group.
Often your goals will require a combination of different marketing messages to achieve the result you want. If a 2018 SMART goal is to increase your year-on-year website visitors, for instance, you might implement a combination of a Search Engine Optimisation strategy, PAID Google ads, content marketing, and social media plan.
Identifying the actions you need to take now to achieve the goals you’ve defined means you can get on with making it happen for 2018 as soon as possible. It You can also ensure you have the staff, tools and the information needed to get on with it. Or start preparing if you don’t.
REVIEW YOUR CURRENT BRAND AND MARKETING COLLATERAL
As your goals change, your branding needs to evolve. All collateral and marketing messages need to reflect the current trends and latest strategies. The end of the year is the time to review what your company represents today and make sure all your materials reflect that. Update what needs to be done, and ensure you’re not distributing outdated content or wrong information.
If your stuff is current, but looking a little tired, now’s the time to spruce it up. What your brand experience says to your existing and potential customers matters – especially in 2018. If it’s looking outdated and old, potential clients are likely to believe your product or service is also outdated and old.
A rebrand may be necessary to give your business the pizzazz it needs to stand out from your competitors, especially in an advertisement, marketing-message full landscape of 2018. Or if you’re just beginning, develop your business name, brand guidelines and visual identity now.
If you really want to start your 2018 with a business bang, talk to the team at What The Fox now for all of your goal setting, business branding and marketing solutions for the coming year. We’re one foxy team full of many eager experts and have the superstars to help with any of your digital and brand needs. We are currently running goal setting workshops to teach you key strategies for success. Book in for a workshop today!