A successful marketer always has a plan. This plan will encompass a vision of growth and endless opportunities. The plan will contain an objective, or goal to accomplish. A marketing objective is a plan devised to target a certain audience in order to boost awareness of the brand and / or sales. The marketing objectives incorporates the company’s core values and expresses its commitment to continuous growth. The objective will provide a roadmap as to how the team will reach future customers, engage with them and convert them to a sale. The plan or strategy will indicate how the marketing team will locate the target audience as well as how they will succeed in converting these leads to sales. Below is a good example of a company’s marketing objectives:
As one can see, marketing objectives are specific, measurable and timebound actions that are relevant to the current market and consumer base. Such goals are known as SMART goals, which will aid in providing short-term objectives. For example, two other goals a marketing team may have could be 1) Increase online sales by 10% over the next quarter and 2) Reach 20% target audience in the next 30 days through online engagement. These are short-term but specific goals one can set and be able to measure or track their progress. Developing SMART goals that align with the company’s overall marketing objective is key. Aligning the company’s goals with what the customers’ needs will bring you close to your target audience. There is a “sweet spot” in there where the company and customer’s needs intertwine.
Along with the alignment of objectives between the company and the customer, a successful marketer will need to align with current marketing ethical and legal standards. Marketers are required to uphold ethical and legal standards at all times. Violating any standards will result in a dynamic where customers may no longer trust you. Losing trust in a customer is a death sentence in Marketing. Therefore, it’s important to understand the common ethical standards that the American Marketing Association has provided. Below are standards and values one should always keep in mind (Code of Conduct: AMA Statement of Ethics, 2020):
- Do no harm: As a company’s marketing and society’s rep we want to demonstrate a consistent adherence to the law and cause neither pain nor harm to anyone in any manner.
- Foster trust in the marketing system: We must seek and obtain the trust of the community (local or global) by not deceiving our customers as it pertains to pricing of a product, design, communication and delivery of our message.
- Embrace Ethical values: In order to succeed in the industry, one is compelled to build relationships based on trust and expectations through a solid ethical value system.
The following are the ethical values one must exemplify as a member of the Marketing industry:
- Honesty – being honest in the price points and message to our customers
- Responsibility – consideration of all people, regardless of age, race, religion or creed, as well as recognizing our mandate to serve the needs of our customers and stakeholders
- Fairness – no price fixing or gouging; creating the balance between both the company’s bottom line and the consumer’s expectation of a brand without misleading content or mistreatment of the customer
- Respect: acknowledging and respecting the individualism that is our customer base; treat all as we would like to be treated- from customers, stakeholders, suppliers, etc.
- Transparency: never hide ongoing deals or discounts to customers; be open and honest to our base while being able to accept criticism and feedback from them (social media listening on outlets such as Twitter can be an effective tool to exercise this value)
- Citizenship: demand fair trade from suppliers; demonstrate the commitment to the 3Ps: People, profit and planet. Give back to your own company i.e. your employees, your community, your bottom line and your environment
Marketing is essential in any corporation if they seek to grow. Having talented individuals within the marketing team that wish to engage with their target audience and develop SMART goals is vital to growth. Marketers must align the needs of the customer and company’s needs while ensuring they’re in compliance with all ethical and legal standards. Think you have what it takes? Step up to the challenge, roll up your sleeves and let’s get to work.
References:
Codes of Conduct: AMA Statement of Ethics. 2020. American Marketing Association. Retrieved from: https://www.ama.org/codes-of-conduct/
