Success of a company highly depends on goals and objectives that are set. We may define goals as the place we want to arrive at as our final destination or target. Objectives, on the other hand, are the necessary steps to achieve that target. Although, the concept is the same as goals vs. objectives, the definition of these targets and steps change slightly in marketing. Now, we will talk about what these terms mean in marketing and what are the differences between them. Let’s start!
What is marketing?
The American Marketing Association defines marketing as a set of processes or institutions for creating, communicating and delivering offers that have value for customers.
Marketing is all the activities of a company dedicated to the selling of a product or a service. These activities may be celebrity involvements, catchy phrases or slogans, memorable graphics and all the media usage to attract customers’ attention.
Goals vs. Objectives in Marketing
Marketing goals are how the marketing department may help the company achieve the goals that the company has set. For instance, a goal of the company might be increasing brand awareness. The related marketing goal might be increasing product awareness through the different marketing channels.
Marketing objectives, on the other hand, are the steps to achieve the defined marketing goals. To better illustrate, if the marketing goal is increasing product awareness, related marketing objective might be contacting 1000 new customers each month.
As we can see, marketing goals have broad definitions while marketing objectives are more specific. The goals have longer time-frame compared to the objectives.
Generally, there are 3 common mistakes associated with goals and objectives. Go to the blog post to get more information about how to avoid these mistakes.
In a Nutshell
Marketing goals and objectives are two highly confused concepts which we explained in this post. We have defined both of them in detail with examples.
Setting right goals for your company, defining related marketing goals and objectives might boost your company’s success. Objectives and following the key results of these objectives, a.k.a OKR is a great way to achieve success.