Ready Aim Fire... Marketing by Objectives
How to Develop Good
Objectives
How
do you set good objectives? Here is a 6 point
plan:
1. Good Objectives must be SPECIFIC.
Specific statements about the results you are seeking.
Specific means numeric—not percentages. Why? Have you ever
cheated using percents? Sure, join the crowd. Everyone has.
I learned how to cheat using percents from my dad. He
didn’t know he taught me . . . but he did. Dad was an active board
member at our Methodist Church. One evening he came home and said:
"The Board wants us to tithe . . . is that 10% before taxes, or
after?"
Because it is so easy to "manage" percents, using them to
set objectives allows for a way out down the line. You really
don’t want that to happen.
Real, live numbers are facts. Percents are generic. Use
real numbers to set your objectives. Be specific.
2. Good Objectives must be
MEASURABLE. Measurable meaning you can count what happened. You
can measure your level of success. Or lack thereof.
Remember that "more" only sets the direction—it is not
specific and thus cannot be measured. It does not include the
qualifiers of "time" and "how far." Both of which are necessary
for measurable objectives.
You
want to be able to measure:
If your objectives are specific, it allows for honest
measurement. You will know what happened, for better or worse—but
you will know! Which is important for now and next time.
Make your objectives measurable.
3. Good Objectives must be REALISTIC.
You should set tough standards. Reach for the stars. Stand on your
toes.
At the same time, you don’t want them so tough a one year
goal takes 16 months to achieve. Nor do you want them so easy
you’ve accomplished your yearly objectives by April.
Only experience allows you to be realistic. And—common
sense. "Automatically" increasing your objectives by a set percent
from year to year, without consideration for the life cycle of the
product, is not being fair. Or realistic.
Setting objectives also forces you to consider your
resources to carry them out. Resources such as personnel, time,
technology—and money. Set challenging and realistic objectives.
4. Good Objectives must have a TIME
SCHEDULE.
In all honesty, I’ve never had a program without a
timetable. If there is ever a problem, it is that insufficient
time has been allocated to accomplish what needs to be done to
meet the objectives.
Sometimes not enough time has been allowed to develop a
program. To think through the best course of action. To really
take the time to plan what to do.
On many occasions there has been adequate time to develop
and implement a program. On paper it looks great. But something
slips—and then maybe something else. Pretty soon you’re behind
schedule and those at the end of the line get pushed. To the
limit. Even too far.
Having good objectives means setting reasonable schedules
and following them through the entire campaign.
5. Good Objectives make certain your
program is COMPATIBLE with whatever else is going on in your
organization.
Because direct marketing is "new" in some circles, it is
exciting. Some look at direct response as "the" answer to their
problems. It scratches the itch.
Which is all well and good. But, before you destroy what
you already have going that is good, test all new programs. Set
your objectives in such a way that you can weave them into the
fabric of your company—not structured to take over between now and
next spring. Good objectives are compatible with all plans.
6. Good Objectives need to be
WRITTEN.
There are a number of reasons why you put anything in
writing. One reason is it gives you a reference guide. Another is
it allows others you are working with to have full knowledge of
where you are coming from and where you are going.
Again, I’ve never seen a marketing plan—or even a small
project—where the objectives were not in writing. We know that
must happen.
I do recommend you write them in "pencil." Because you will
change them. Know that you will change them—because the
marketplace will change. Your competition will introduce an
enhancement. Your company will come out with a new product (early
or late, it doesn’t matter—it requires a change).
Good objectives are in writing. So you can be flexible.
The
Wrangler division of Blue Bell sets their product marketing
objectives by the S M A R T method—which you may find
helpful in remembering the key points in setting good
objectives:
S = Specific
M =
Measurable
A =
Attainable
R =
Realistic
T =
Time-Bound
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