Why You Should Create A Marketing Goal
We're gonna jump right back in to marketing your Etsy shop, and to recap and to remember that we are covering three main components today and we're going to be looking at, or we did look at the system, we looked at the marketing system and the activities that take place in your marketing plan. We are going to cover how to set a marketing goal and then look at actual marketing strategies. So, we have an understanding of that system and we'll see all three parts come together by the end of the day in an actual marketing campaign. We're gonna look at how to create a marketing goal and I am keeping this intentionally short because it really comes to life later in a campaign. It's much easier to discuss when I can show you what an actual marketing goal looks like, but every marketing campaign or every marketing pursuit that you have online needs a desired end result. And that end result should always contribute to your growth and/or profit. When you're doing it right and when your marketing...
is working, it should substantially contribute to your growth and/or profit. Now, we all set business goals and I'm sure a lot of you have business goals. I don't want these two things to get confused. You probably set business goals at the start of the year, such as I want to make this salary. Let's say I wanna make $50,000 this year or I wanna make this number of sales. On Etsy, let's say I wanna make 5,000 sales this year or I want this number of subscribers. I have 1,000, I wanna double my list and have 2,000 subscribers by the end of the year. Those are all business goals and they're typically a lot broader and a lot more big picture than a marketing goal would be. A marketing goal is the reason for a marketing campaign. It's the desired end result of a marketing campaign and a marketing campaign doesn't last for an entire year. It's usually a shorter term period. The marketing goal reflects what you're hoping to achieve with your marketing efforts. It runs on a shorter deadline, and I would give you the example of 30 days. I think 30 days is a great short deadline for marketing goal. And I encourage you to keep those business goals that you have in place. I'm sure you all have them. Keep that salary that you'd like to earn. Keep those sales and keep those subscribers. Those are all good ways to structure business. So, these are all great ways to grow. And the good news about it is the marketing goal will actually feed that goal. It will help you receive it faster, will help you earn that business goal faster. Your marketing goal is in place to help you create your bigger salary. It's in place to help you get that number of subscribers. So for example, if my business goal is to earn 50,000 this year, a good marketing goal for this month is to build numbers to support that. So, let's say I'm having a spring line launch of my product and I wanna make $5,000 in that spring line. That would be a stretch. That's something I really wanna aim for and it will feed my business goal of making 50,000 this year. So, it's really about breaking those big business goals, those big, broad business goals down into smaller parts to make them happen. Again, it's a shorter term goal. It's gonna be something you work on for 30 days, not necessarily three months. So, it's one 30-day period at a time or if you're running a sale and the marketing campaign is about the sale, one two-week period at a time. It's definitely going to be a shorter goal. And a good marketing goal will be a specific figure. So, you're looking for a number of sales you want to earn, a number of signups you want to attract, or a dollar amount you wanna earn. It will directly contribute to growth or profit. That said, what is not a goal for your marketing campaign is followers or fans. So, if you're on track because you're trying get more Facebook fans to your page in order to build your social proof or what have you, that's not a marketing goal, but that's absolutely more the wake or the effect of a good marketing campaign. So, you're going after sales, you're doing marketing networking, you're connecting with customers, followers and fans are gonna be in the wake of that. And the reason being, the reason why that's not a good marketing goal for your business is because the end result of Facebook fans is Facebook fans, and that doesn't directly contribute to the growth and/or the profit of your online business. Moreover, you will always want to question the methods that you're using in order to reach your goal before you build them into your campaign. So, I put a quote up for you. "You don't wanna get to the top of the ladder "only to find out you had it leaning up "against the wrong wall." That's from Jack Canfield. This plays a part in my business a lot. I always find myself climbing ladders to the wrong wall or getting to something that I feel like, "That wasn't me. (chuckles) "What am I doing on the top of this ladder?" So, it's something to really question, and I bring it up here because many of my clients or creative business owners that I work with are looking for wholesale, and so I know this is something that everybody can relate. I understand the draw toward wholesale, but I'd hate to see you build an entire marketing campaign that's only gonna result in more work at your own expense 'cause that's what wholesale is. It's a lot of work at your own expense because you take a cut off the profit. Not to say that it won't work for everybody, but I definitely want you to question this method. So, I've done my share of wholesale. I've done my share of wholesale, and in my experience, direct sales where I'm selling not to another business to resell my product, the one I sell directly to the customer, it doubles the profit and cost half the work than a wholesale campaign does. When someone tells me that they want more wholesale for their business, I read into that a little bit. I think what they really want is validation. I would think what they really want is a reliable business, regular orders that they can count on, regular orders to fulfill. So, wholesale sometimes leaves you feeling underpaid, undervalued, and resentful because you're doing a whole lot of work for a whole lot less of the profits. So, in that case, it'd be a little bit of the right ladder, wrong wall. I just want you to question it before you build it into a marketing campaign. Say, it was your intention to earn $5,000 this month and you had wholesale as one of your methods because you're gonna look for an account, just be careful with that, just make sure it's work you really wanna be doing. So, I have a marketing goal that goes hand in hand with every project I work on or every promotion I run. I'm always looking for number of sales, a dollar amount to earn, or a number of emails that I'm looking to gain whenever I build something online. And you'll see how the marketing goal plays a big role throughout the rest of the lessons that we're going to cover today. So, like I said, I wanted to just go over that to discuss it because it's gonna play a role later, but I'd rather pull examples in. It will really bring that to life and you'll see it throughout the day. So far we've covered marketing that matters and what you should be doing online. We opened the day with things to focus on every time you reach out to your customers. We looked at the marketing system and the six activities that keep an online business running. And then we briefly touched on marketing goals just now to create an end result, a desired end result for all of your marketing efforts, so you're doing less of a scramble and more of achieving a goal.