Everyone wants to succeed in online marketing, but many people often miss things that may seem small but can have a huge impact on long-term marketing results, such as focusing on Marketing Objectives, which is like the starting point for a brand to ask itself about the direction of its work and what metrics will help show the clearest results.
For this reason, in this article, Relevant Audience would like to present 4 Marketing Objectives that most businesses use when planning online marketing to serve as a guide for businesses or anyone who is just starting out. If you’re ready, let’s take a look.
1. Increase share of voice (SOV)
Those with experience in marketing may have heard of SOV. SOV stands for Share of Voice, which means the proportion of communication word-of-mouth in marketing. It helps you know how much people are talking about your business or campaign. This information can then be used to further study consumer insights.
It can be calculated by using Reach as the numerator divided by the number of target groups.
2. Increase Brand Awareness
Brand Awareness, if translated literally, means creating awareness for a brand or business that wants people to be aware of the brand’s existence and be remembered through various factors, whether it’s design, slogans, logos, and others. For example, when talking about electric cars, everyone must think of Tesla, or when talking about apples, they must think of iPhones.
To calculate this metric, you may start by conducting a direct survey with customers, as well as using Analytics Tools.
3. Customer Lifetime Value
Customer Lifetime Value or CLV is a very important metric for businesses because it is the value that each customer spends on a business’s products or services from the beginning of being a customer until the day they stop being a customer.
The method of calculation can be seen from in-depth data on product or service purchases and the length of time as a customer. The CLV formula itself is actually very diverse, but the most universal one is:
“AOV x APF x ACL = CLV “
AOV = Average Order Value
APF = Average Purchase Frequency
ACL = Average Customer Lifespan
4. Marketing Qualified Leads (MQLs)
In the world of marketing, what is often talked about is Leads, which are potential buyers of products or services from a business. Marketing Qualified Leads (MQLs) are Leads that come from a business’s marketing channels, whether it’s a website or through Content Marketing. They are the starting point of Leads who are interested in products and services, which these consumers may not be ready to buy immediately, but they have qualities that the business has defined.
Concluding Remarks
So, how about the 4 main Marketing Objectives that we have presented as a guide for marketers who are just starting a marketing campaign? You can rest assured that if you start correctly and have clear goals, walking forward in each step will be easier. Hopefully, marketers or brands will benefit from this.
Consult Digital Marketing with Relevant Audience
Relevant Audience is a Digital Performance Marketing Agency that provides digital marketing services with the main goal of helping your business reach target audiences who are looking for products or services at the right time, place, and device through various online channels. Our services cover Search Marketing, Social Media Ads, Search Ads, and SEO (Search Engine Optimization) to Influencer Marketing and are also part of the Google Partners program.
For more information:
Tel: 02-038-5055
Email: info@relevantaudience.com
Website: www.relevantaudience.com
