Can B2C Tactics Work on B2B Businesses?
B2B marketing operations are considered separate – and more complex – than B2C tactics. That separation appears to be coming to an end. As consumer data becomes [...]
All posts tagged: Business Goals
Business Goals
Successful businesses are based on both goals and objectives. They clarify the purpose of the business and help identify necessary actions Goals are general statements of the desired achievement. Objectives are the specific steps or actions you take to reach your goal. Both goals and objectives should be specific and measurable. Goals can involve areas such as profitability, growth and customer service, with a range of objectives that can be used to meet those goals.
1. Business Profitability Objectives
A common business goal is to run a profitable operation, which typically means increasing revenue while limiting expenses. To reach this goal, objectives could consist of increasing annual sales by 10 percent or landing four new accounts each month. Expense objectives could involve finding a new operating facility that decreases your rent by $300 a month or cutting monthly utility bills by 10 percent.
-
Customer Service Objectives
Customer service goals could include reducing complaints by 60 percent over one year or to improve resolution times to customer complaints to a minimum of one business day. To meet customer service goals, objectives could include increasing your customer service staff from one to three workers by the end of the year or implementing a policy where customers are guaranteed to receive a return phone call before the end of the business day.
3. Retention of Employees
To make this goal specific, you could measure the current turnover rate, like one employee in five leaves after three months, and decide to double this figure to six months. Objectives to meet this goal could include implementing a training program that details new-hire activities for the first 90 days on the job. You also could implement one-on-one bi-weekly meetings with your employees to build rapport and find out what’s on their minds.
-
Efficiency of Operations
Another goal could be to become more efficient in your business operation to increase productivity. To improve efficiency, you could set a goal of increasing shipping times from three days to two days. Objectives to meet this goal could include finding a new shipper or improving production times to have units ready to ship before 10 a.m. each morning.
-
Growth of the Business
Perhaps your goal is to grow your business operation. Your goal might be to open three more markets within a five-year period. If this was the case, your objectives could include scouting a new city once each quarter, or new markets.
Do You Have Business Goal and Objectives? Mv3 Marketing is here to Help You! Read More Now!
Are You Tracking These 7 Key Business Metrics?
Business metrics represent the backbone of your business. Without them, you don't know how much money you're making, what kind of audience retention your content's generating, or [...]
Are You Thinking About Your SEO Strategy All Wrong?
Optimizing for search engine discoverability, also known as SEO, has so many factors. It's more than just keyword integration or link building: a successful SEO strategy involves [...]
The Rise of the Small Business City
In the era of e-commerce, it's surprising to learn that location can still impact the ways a business succeeds. Yes, location matters—but not in the ways that [...]
Thought Leadership: Does Your Content Transcend Your Industry?
It's getting simultaneously easier and more difficult to reach consumers today, have you noticed? A litany of ad-blocking services prevents traditional advertisements from passing over 31 percent [...]
Better Connections Make Better Remote Employees
The opportunity to work remotely is a gift, whether you’re working with a team across town or from another corner of the world. It’s convenient to be [...]
Does Employee Cheer Impact Your Bottom Line?
Friendliness is the foundation of all businesses. Whether you operate solely online or own a brick-and-mortar shop, consumers expect small business owners and employees to be more [...]
Growing Strong: Best Practices for Creating a Digital Growth Plan
Digital commerce is on the rise. The industry saw a 15 percent increase in overall sales as of 2018, meaning that there’s plenty of opportunity for large […]
2019 B2B: This Boom Will Benefit Your Business
Your B2B business has a bright future ahead of it. B2B companies are predicted to net $1.8 trillion by 2023. E-commerce and online marketplaces have made conducting [...]
Organic vs. Paid Traffic: How Do You Choose?
Some consider organic traffic the most effective traffic that a business platform can generate. But paid traffic, meaning users that comes from paid-for advertisements, can be more [...]