Identifying Your Business Goals
Before you get into marketing your business, you need to identify its business goals. Although we take for granted that a business’s goal is to increase revenue, that’s not the end of the story. There are many other types of goals companies strive to achieve.
Some businesses are driven by the desire to offer excellent products that make life easier for all of us. Your business goal may be to create the most innovative products on the market. This is a wonderful goal because products are at the heart of any business’s success.
Your business’s goal may be to serve your customers and help them solve their problems. It may also be to lend help to the community or to strengthen the community of your customers. This is also an excellent choice because good customer service leads to more sales.
Your goal may be to not only gain new customers and increase revenue, but to keep the customers you have. Businesses do this by creating a community for their customers and by remaining open to their feedback in order to improve their products or services.
Growth and Expansion
Maybe your business’s goal is to grow and expand, eventually moving into new markets and new enterprises. If this is the case, conducting market research to find new areas would be a major part of your overall strategy.
A major goal for your company may be to tighten up your processes. This might include challenging your salespeople to reach an ever higher sales ratio or streamlining your shipping in order to reach your customers more quickly.
Changing the World
Some companies have as part of their vision to enable social change. Your goal might be to make the world a better place through the use of your products and services. This is a goal for many companies that produce environmentally-friendly products or work to streamline their operations so that they’re more ecological.
Increasing revenue and profit isn’t the only goal of most businesses. Look at your business currently and ask yourself what other goals you have. This will help you as you plan your marketing.
Donna Price is a strategist, working with entrepreneurs to increase profits using the 7 Profitability Accelerators. Create your system for success.