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Created on: March 21, 2009 Last Updated: June 22, 2009
It is not uncommon for business and marketing consultants to hear from clients that their organizations are unique. These business leaders may regard their products or services as unmatched in the marketplace, or deem their firm's "proprietary formula" as untouchable by the competition. This explains in part why there is no simple, cookie cutter approach to devising business objectives for companies today. However, there are some objectives that rise to the top, no matter the nuance or "special sauce". Loosely labeled, they fall into the buckets of brand, customer, employee, growth and operations. Any strategic business plan (whether for a small business or large organization) that dismisses one or more of these objectives will require updating.
A house keeping note before digging in; the hierarchy of a strategic business plan (replete with sound business objectives) is critical. This may seem like an obvious statement. Yet, it is surprising how many plans end up getting lost in the weeds. Strategies get mislabeled as objectives, or leaders focus on tactics and view the implementation of sales and marketing campaigns as the objective. Focus, performance and results all get tangled up this way. Remember, strategic planning starts with carefully crafted business objectives (lightly cemented, with intended longevity). As a rule, business objectives are high-level and do not aim to be dynamic. Leave essential pliability to the strategies you assemble in support of your stated objectives.
Five key business objectives integral to promoting success are:
1) Brand engagement Brand and customer engagement goes beyond merely interacting with new and existing consumers. Rather, it addresses the formula behind effectively connecting a brand with the target audience, in a way that affects measurable market performance. This requires companies to optimize each and every interaction customers have with a brand from advertising to sales to service and support. And, it entails relating to customers in highly relevant ways in order to strengthen the connection consumers have with the brand.
Additionally, businesses need to unearth new, poignant ways to create opportunities for engagement across mediums (from traditional media to the web, social networks, sponsorships and niche events, for example). The unique prescription for each brand will likely entail connecting with customers on multiple, interdependent levels, including: emotional, cognitive, behavioral and attitudinal (i.e.,
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