Developing Key Objectives for Your Small Business

 

As small business owners we have a lot of options for things that might move the needle for our business. Part of being a great small business owner is to determine which of those objectives you're aiming your daily activities towards.

A key objective, when creating goals or a quarterly plan for your small business, is the thing that you are going to aim all your effort at over a period of time.  What is the thing that you believe will move the needle forward for your small business?  You need to then aim all your marketing and sales efforts toward that thing.

Here is a list of key objectives we will discuss that will help move your business forward. 

  1. Promote New Products or Services - focus on your marketing efforts here since your existing products or goals will become set aside or depreciated while you are promoting the new product
  2. Grow Digital Presence - aim your focus on people who will become potential customers, not just to increase your number of followers - they are not real customers
  3. Lead Generation - to get leads is just the start, what comes next?  Leads need to become customers so get them into a cycle to convert them into lasting customers
  4. Target New Customers - focus your marketing efforts to anyone who doesn’t know who you are at all or who are just becoming aware of your small business
  5. Retain Existing Customers - instead of getting new customers, focus on nurturing the relationship with your existing customers
  6. Increase Sales and/or Revenue -  a great objective to have - across multiple products or services
  7. Increase Profit - multiple ways to do this - increase prices, grow your audience, convert more people to customers

This list is just a sampling of the more than 60-70 key objectives for a small business owner to think about.  Now, you want to think about how your marketing and sales efforts will support the thing or goals to accomplish.

You don’t need a big, fancy marketing team to get this done.  You need to be intentional with what you want to accomplish.  For example, if you want to grow your online presence, you need to focus on that objective in the moment, and not while doing a million other things that will take your attention away from that goal.

Pro tip:  Instead of setting so many goals that you feel overwhelmed, think of creating key objectives.  Maybe the word “goal”  feels too much like setting a resolution that you will never keep.  You definitely don't want your small business objectives to feel like that.  

So let’s set key objectives that you will be able to wrap your head around and become comfortable with when it comes to growing your small business.

If you want to read more about developing key objectives when marketing your small business,  click on this article. https://blog.alexa.com/marketing-objectives/

Want to learn more about building your business's brand?  We've got a short Small Business Brand Audit that can help you out.  It will help you determine where you are with your marketing and where you need to go. It helps you identify your customer's perspective and helps you position your brand based on your specific competitive evaluations.

It also helps you to align your brand messaging by mapping your customer's motivations and determine where your small business stands on it's path to actually being a brand.

This self guided brand audit is completely free and available to you at the link below. Download the audit and complete it on your own schedule. The download consists of eight videos as well as a 14 page workbook that contains instructional activities to help you transition your small business into a brand.

Click the link below to get your free download

Small Business Brand Audit