Setting goals
At the start of this blog series I explained the difference between a good and a great marketer. In essence we saw that the difference lays in the ability to understand the definition of success for the company or project. The great marketer was able to start with asking ‘why’ certain actions are taken. The great marketer needs to understand which goals are set for the company, as goal setting is needed to define success or failure for any project.
In today’s blog we’re going to learn to set Goals for our hiking shoe company and create a roadmap for working toward that goal. Not just for a single campaign, but for the company as a whole.
Objectives and Key Results
A model many successful companies choose to work with is the Objectives and Key Results model (OKR). This model is not only a great tool to define the goals for the entire company, but it’s also a great tool for planning projects throughout the year and aligning the company to work towards the same results.
Results first
The first step we need to take is to set a final result. This is our dot on the horizon, where we aren’t now yet, but where we want to be after a period of time.
For our Hiking Shoe company we’re going to set a result for the end of next year. Let’s say we create the following the result:
“By the end of next year we want to have served 600.000 happy customers for finding the right hiking shoe.”
Although our result doesn’t define yet how we are going to this. We now know what we’re all working towards within the company, what the daily grind is supposed to result in.
Setting Goals
Now that we have our final result, located near the end of the rainbow, with no idea on how to get there. It’s time to forge ourselves a road. To create our roadmap, we first have to understand all of the components of our final result.
“By the end of next year we want to have served 600.000 happy customers for finding the right hiking shoe.”
If we take a closer look at the result, we can see that it consists of several different components. Components that we are able to influence as a company. Or even better put: as a team.
The following parts can be directly subtracted from the result.
- 600.000 Customers
- Happy customers
- Finding the right hiking shoe.
The next step is to change these insights from the result into goals. This could look as follows:
- Increase the amount of customers
- Increase customer happiness
- Increase product quality
We have now created our three goals. But we still haven’t made clear how we are going to this. Up next, we’re going to create objectives needed to achieve our goals.
Objectives
To achieve our goals we are going to need clear objectives. These objectives are projects that can be done to partially help fulfill the goals.
If we take a look at our goal number 1: “Increase the amount of customers”. We can create several projects that can contribute to this.
Goal 1: Increase the amount of customers
Objective 1: Create new innovative paid marketing campaigns promoting Hiking Shoes
Objective 2: Create a solid organic marketing strategy to promote the Hiking Shoes
Objective 3: Create special deals to increase saleability of our products.
We’re getting closer to actionable steps that can be taken to reach our final result. But first, let’s do the same for our other goals.
Goal 2: Increase customer happiness
Objective 1: Decrease delivery time per order
Objective 2: Provide training for salespeople to help customers even better
Objective 3: Improve customer support (and product return policy)
Goal 3: Increase product quality
Objective 1: Meet with new high quality suppliers
Objective 2: Set quality goals for existing suppliers
Objective 3: Research new methods for product improvements (waterproof)
The road towards the pot of gold at the end of the rainbow is starting to take form. Suddenly our result isn’t just a vague statement without any concrete actionable points. By using this approach we don’t just inform everyone in the company about where we are and where we want to go. We also help the entire company with creating a planning for their department on the projects they need to take on within the year. Next to that, everyone within the company understands the responsibilities of each other department. Which increases our ability to work as a team. As everyone in the company is now focused on reaching the same result: having those 600.000 happy customers.
Key results
The key results are the results that need to be achieved to reach the objectives. The key results are the actual projects that need to be done by the team in order to increase the performance to reach the company goals and the final result.
I’ve added them in the sheet below. To give you a full overview of what it looks like.
Now reach those goals!
You’ve learned how to create a complete setup to help achieve all the company goals and finally achieve the wished results. Now all you need to do is create a project planning for all the different departments so that everyone is working to achieve the same final result!
If you would like use the same template I used for setting goals. You can download an empty template right here: TJDA- OKR
I hope you enjoyed this week’s blog. See you next week!