Brand awareness can be described as a measure of what an organisation's customer relationships look like. How familiar are people with your brand? How many Facebook, Instagram, Twitter and LinkedIn followers does your company have? Do you have a person dedicated to answering questions and comments on your social media channels?
Engagement measures track how many social media interactions such as likes, comments, shares and new followers a company has, along with website traffic. You should track them on a monthly basis at a minimum to see if they are increasing or decreasing.
Thought influencers are also a major aspect of creating excellent brand awareness. Thought influencers are people in the industry with a strong social media following and personal brand that partner with organisations to help promote their products and services. Having good thought leaders promote your company can greatly improve your reach and strengthen your online presence.
Brand awareness can also be measured by tracking how many times a promotional video is viewed and comparing it to other pieces of content that were promoted in the past. Measuring these objectives helps marketing teams decide what type of content resonates with their target audience the most so they can plan out the most engaging marketing plan.
One of the most important things for any company is acquiring new customers. However, marketing teams are highly focused on customer satisfaction and retention because they know recurring revenue is based upon loyal customers.
Customer satisfaction is largely measured by social media ratings on websites like Facebook and Glassdoor. Satisfied customers can be a powerful method for increasing revenue by not only retaining their business, but also generating new business via referrals.
Companies strive to have as high of a rating as possible and a long list of positive reviews. Customers who stay with a company have a higher lifetime value and are also more likely to spread the word about a company to friends and family, driving customer acquisition.
Marketing activities usually involve spending money creating content and promoting it online and in-person to acquire new customers and retain existing ones. A marketing audit can determine how much of the marketing budget it takes to acquire one new customer.
This number should be optimized by creating the types of advertisements and content that your customer base craves. Sales and marketing teams should work together closely to align marketing messages with sales objectives to maximise lead generation.
Smart organisations use tools like Samewave to make it simple to automate customer acquisition cost reports with software. Samewave is social performance management software that takes the hassle out of reporting business goals like conversion rates, sales numbers, and more.
When a company launches any new product, a common marketing objective is planning how much of the market share that product should have. For example, a software company might launch a new social media management platform and have a goal for that product to go from 15 percent to 30 percent of market share in the next quarter.
Organisations can use technology to easily track progress towards goals and targets in one simple, transparent place. Samewave is a program that lets users create, collaborate and communicate about marketing objectives in real-time.
Promotional objectives focus on doing exactly what the name implies — promoting services and products. It involves generating an identity for your brand to reach and engage your target audience effectively.
A well-designed marketing promotion creates a brand identity that weaves images, compelling content, incentives or prizes, and an overall theme into a campaign that includes videos, social media messaging and emails.
One main goal of a marketing promotion is to bring in new customers through various initiatives such as holding special events, running paid advertising campaigns or having social media contests.
New customers help increase sales, so an additional goal is to influence customers to come back and purchase more products. Tactics include special offers, email blasts, loyalty perks and discounts.
Finally, marketing promotions help introduce new products to your audience. New product launches are often supported by marketing efforts such as paid social media, Google ads and launch events in targeted new markets.
While sales and marketing teams clearly have different functions, they often work hand-in-hand to get to the end desired goal — new customers and increased sales.
Marketing teams are highly responsible for bringing high quality leads into the sales funnel with robust marketing initiatives. They also have to research their audience to determine who the decision-makers are and how to best reach them.
Marketing professionals bring sales representatives the most qualified leads by gaining their attention where it matters most. Typical delivery channels are social media outlets, LinkedIn, email marketing, direct mail and paid advertisements.
In today's highly competitive business landscape, organisations need more than the best products or services. There's no shortage of businesses competing for the same customers in the world of e-commerce.
Smart organisations realise they need a talented marketing team with clear objectives and goals to reach their audience, capture their attention and drive them to action.
They also need software that helps them track and measure their goals and allows them to collaborate across departments, keeping everyone on track and accountable towards goals.
Implement these objective examples today to optimise your marketing efforts for improved brand awareness, increased sales and excellent customer satisfaction.
Stay on the Samewave!
Sign up to get regular updates when there's new blog posts, news & insight from Samewave HQ.