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How Are You Setting Your Marketing Goals?

Can you name all the marketing benchmarks you planned on hitting this year?

Did you set any goals at all?

If you’re drawing a blank, you’re not alone. Many businesses invest in marketing without clear goals or a good way to track their investments. Other businesses set goals based on arbitrary benchmarks that have no context or relevance to their broader objectives.

As a company that specializes in printing, fulfillment and technology solutions to power our clients’ marketing communications, BFC understands that a good marketing strategy depends on clear goals.

So how can you improve your goal planning? With SMART Marketing Goals.

SMART is a system that helps you establish specific and achievable goals. SMART stands for Specific, Measurable, Attainable, Relevant, and Time-bound.

To help better align your marketing efforts with SMART Goals, we are offering this marketing goal-setting excel template that you can download for free. It’ll specifically help you:

Easily summarize your marketing goals
Calculate your greatest marketing need
Set a deadline for meeting all your goals

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Got a silo problem? If you’re like most companies doing targeted and personalized marketing, you do. You may have plenty of customer data, but it might be in different places (silos), and these places often aren’t talking to each other. As a result, your marketing is less effective than it could be. Here are some risks to having siloed data: • Unhappy customers. Whenever mail gets lost because you have the wrong address, whenever a mail piece arrives with a bad name, or you offer to sell a long-term customer a product they already own, you risk alienating that customer. • High costs. The average price of every piece of returned mail is $3 (Source: Pitney Bowes). This is not just the postage and printing. It’s the cost of the piece coming back to you, figuring out what went wrong, and taking the time to fix it. • Lost sales. How many marketing opportunities are lost because the data on customers’ preferences and behavior is siloed in different departments? That translates into lost revenue. Let’s look at five steps for getting rid of those silos. 1. Connect inbound mail to outbound mail. Build in tracking mechanisms that allow you to connect the incoming to outgoing mail. This can be as simple as adding a barcode unique to each participant. When the response envelope comes in, the barcode is scanned. This connects the incoming mail to the outbound file, linking the customer information together. 2. Centralize data capture. Centralize mail processing in one location. Capture mail coming in from marketing, sales, customer service, web forms, and anywhere else in your company. 3. Extract what you need. Your mail contains lots of essential details that can be useful to your print and digital marketing. Extract all of the insights you can, including names, addresses, channel preferences, transaction history, and customer surveys. Input it into a centralized database that can be accessed throughout the organization. 4. Look and learn. Assign someone with a marketing and data background to analyze your database to understand what it tells you. Contained in there are critical nuggets about customer behavior, channel preferences, and more. Need help? Just ask! 5. Put it to use. With a closed-loop on your mail communications and a centralized, up-to-date database accessible by all departments, you have a powerful marketing tool at your disposal. Take what you can learn and use it to improve your targeted and personalized direct mail marketing or other customer communications.

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