Why is Goal Setting Important to Inbound Marketing?

Inbound Marketing is a strategic approach that focuses on generating new leads and customers for your business by improving your online visibility.

Through the creation of content and a well mapped out website, your organization is able to use Inbound Marketing to build brand awareness, organically drive potential customers to your website, generate leads and nurture relationships. 

The thing is… without clear objectives, even the most sophisticated Inbound Marketing strategy can fall flat. That’s why goal setting is so important to Inbound Marketing.

Goals are the sail that drives your Inbound Marketing efforts to where your business needs to go. But what exactly are Inbound Marketing goals and how do you set them? We’ll take a deeper dive right here in this blog.

Inbound Marketing SMART Goals Explained

By establishing clear, measurable objectives, you provide your marketing team with a roadmap, ensuring that every action contributes to the overarching goals of your business. Here at SummitBound Marketing, we call these your North Star goals - and they drive everything we do within your marketing program to help your business achieve its objectives.

In essence, goals are the compass that guides your Inbound efforts. To be effective, however, your Inbound Marketing goals should be SMART:

Specific

Your goals should be clearly defined and focused on a particular outcome, avoiding vague or broad objectives. For instance, instead of "Increase website traffic," a specific goal would be: "Increase organic website traffic by 20% in the next quarter."

Measurable

Your goals should be quantifiable with specific metrics to track progress. Examples include website traffic, lead generation, conversion rates, and social media engagement.

Attainable

Your goals should be realistic and achievable based on your resources, team capabilities, and industry benchmarks. Overly ambitious goals can lead to frustration and demotivation.

Relevant

Your goals should be aligned with your overall business objectives and target audience. Ensure your marketing goals contribute directly to your company's success.

Time-Bound

With a clear start and end date to create a sense of urgency and accountability, your goals should be time-bound. This helps in tracking progress and making timely adjustments.

Why are Goals in Inbound Marketing important?

Goals are the lifeblood of a successful Inbound Marketing strategy. They offer numerous advantages:

• Focus and direction: Clearly defined goals prevent resource wastage and ensure efforts are concentrated on high-impact activities.
• Measurement and accountability: By setting measurable goals, you can track progress, identify areas for improvement, and demonstrate the ROI of your Inbound Marketing initiatives.
• Alignment with business objectives: Goals help ensure that your marketing efforts contribute directly to the company's bottom line and strategic priorities.
• Improved decision making: Data-driven insights derived from goal tracking inform strategic adjustments and optimize resource allocation.
• Motivation and team alignment: Shared goals foster a sense of purpose, collaboration, and accountability among team members.

Why Your Marketing Goals Should Help Your Company Achieve its North Star Objectives (Your Overall Business Goals)

Your marketing efforts are critical to the overall health and growth of your business. This is where the alignment of marketing goals with your broader business objectives becomes crucial.

Aligning marketing goals with your company's North Star objectives (your overall business goals) ensures that every marketing effort contributes directly to the company's success.

For instance, if your company's overarching goal is to increase customers by 10% in the next fiscal year, your marketing goals should directly support this objective. An example of a SMART goal that helps move the needle towards this could be increasing lead generation by 20% over the year.

By tying marketing goals to your company's North Star, you create a clear connection between marketing activities and business outcomes. This not only enhances the impact of your marketing efforts, but also demonstrates that marketing is a strategic function that drives tangible business results.

Key Goals to Measure in Your Inbound Marketing Strategy

1. Driving Web Traffic

Increasing website traffic is the foundation of any successful Inbound Marketing strategy. It's a crucial indicator of your online visibility and reach. To drive targeted traffic, consider the following:

• Deepen your understanding of ideal buyer personas: Create detailed profiles of your target audience, including their demographics, challenges, goals, and preferences. This knowledge will inform content creation and targeting efforts.
• Conduct comprehensive keyword research: Identify relevant keywords and phrases that your target audience is using in search engines. Utilize keyword research tools to uncover long-tail keywords with lower competition rating to improve your search rankings and visibility. 
• Develop a robust content strategy: Create high-quality, informative, and engaging content that addresses your target audience's pain points and interests. Align your content with the buyer's journey to attract and nurture leads at different stages.
• Implement advanced SEO techniques: Optimize your website and content for search engines to improve organic visibility. Focus on on-page SEO elements like title tags, meta descriptions, header tags, and internal linking. It can also be valuable to build high-quality backlinks to enhance your website's authority.

2. Lead Generation

Converting website visitors into qualified leads is a critical step in the sales funnel. Effective lead generation requires a strategic approach:

• Craft compelling calls to action (CTAs): Create clear and persuasive CTAs that encourage visitors to take the desired action, such as downloading a top-of-the-funnel guide or requesting a demo. Test different CTA variations to optimize performance.
• Design high-converting landing pages: Create dedicated landing pages optimized for conversions. Use valuable (and persuasive) content, strong visuals, and clear value propositions to capture lead information.
• Implement smart form design: Keep forms concise and focused on essential information. The placement of forms on your page can have a significant impact on lead generation, it's generally best practice to have them at the top of the page - but make sure you A/B test these different elements for optimum results. What's right for others may not always be right for you. 
• Create valuable thank you pages: Provide immediate value to new leads, such as offering additional resources or exclusive content. This helps build trust and encourage further engagement.
• Utilize automated workflows: Nurture leads efficiently through automated email campaigns and personalized content based on their behaviour and preferences.

3. Converting Leads into Sales

While traffic and lead generation is great, the ultimate goal of Inbound Marketing is to drive revenue by converting leads into customers. The following strategies can help: 

• Implement a comprehensive lead nurturing program: Deliver targeted content and communication to guide leads through the buyer's journey and build trust. Use email marketing, personalized content, and lead scoring to prioritize high-quality leads.
• Leverage marketing automation: Automate lead nurturing processes to increase efficiency and improve lead response times.
• Optimize email marketing campaigns: Craft compelling email content, segment your audience, and test different subject lines and email formats to improve open and click-through rates.
• Track and analyze lead behaviour: Use analytics to gain insights into lead engagement and preferences. You can then use this data to adjust your nurturing strategies accordingly for improved results. 
• Foster collaboration between marketing and sales: Ensure seamless lead handoff and alignment between the two teams to maximize conversion opportunities.

Top Mistakes to Avoid When Setting Your Inbound Marketing Goals

To achieve optimal results, be mindful of these common pitfalls:

Setting Overly Ambitious Goals

Unrealistic expectations can lead to frustration and demotivation. It's always best to start with achievable goals and gradually increase the bar as you gain momentum. The more historical data you have from your website, the more you'll understand what achievable goals will look like. 

Misalignment with Business Objectives

As we mentioned before, your marketing goals should directly contribute to your company's overall success. Avoid setting isolated goals that don't align with your broader business strategy.

Focusing on Tactics Instead of Outcomes

Your marketing shouldn't just be a workshop where tasks get done. It's important to clearly define the desired outcomes and use tactics as a means to achieve those goals. In other words, don't just create a blog for the sake of it. What is the purpose of this specific piece of content you are creating, what persona is it targeting, what keyword is it aiming to rank for, and what is the next piece of content or asset you want to guide the visitor to? 

Underestimating Resource Requirements

While you probably have lofty goals, what you can achieve (and in what time span) will largely come down to your resources. What budget, personnel, and tools do you have to help support your goals, or how much are you investing in a marketing agency to help? 

Ignoring Historical Data

We've said it before but we'll say it again, past performance and historical data is a gift when it comes to setting realistic and informed goals. Leverage this data to identify trends and opportunities for your future marketing efforts.

Failing to Create an Action Plan

Don't just set goals and forget about them. It's important that you develop a detailed plan that outlines the steps (and tasks) required to achieve your goals. By assigning responsibilities and setting deadlines you'll ensure that your team is accountable for each action item.

Not sure where to start? SummitBound’s experienced Inbound Marketing, Content Strategy, and HubSpot experts can help you develop and implement a data-driven marketing strategy that helps you achieve your business goals.