Setting Advertising Goals

It’s no secret we love goal-setting at Imagine Media and advertising goals are no exception. Setting goals and, more importantly, setting the right goals, is essential to a strong advertising strategy.

Getting Started

The first step in goal-setting is determining what the most relevant metric is for your business’ overall success. That might be followers, sales, qualified leads, impressions, or any number of metrics.

Once you determine what you want to work toward, you can begin picking the specific numbers for that goal.

Realistic Goals and Inspirational Goals

Often it is helpful to create two sets of goals– one you know you can hit and one you want to hit.

A good method for realistic goals is to look back at your accounts’ past growth and see how many followers (or engagements, people reached, sales made, etc.) the account typically grows by each week. Once you have an average, add on to it and make it your goal to grow by more than that each week.

For example, if your account typically grows by 50 followers each week, make it your goal to grow by 60 followers every week for the next quarter. Or if you typically see an ad generate 20 sales or leads per week, make it your goal to increase that to 25 without significantly increasing the budget.

If your account is starting from 0, look at competitors’ growth to determine their average growth or engagement. Make sure to look at a company comparable in size, however, so you don’t set yourself up for failure with wildly unrealistic goals.

For inspirational goals, look at your biggest competitor or the biggest company in your industry and shoot to have the same numbers as them. You might not reach your inspirational goal in a week or a quarter but it can be helpful for benchmarking over a longer period of time.

Benchmarking

Make use of tools like Facebook’s “Pages to Watch" and competitor reports available through tools like SproutSocial to continue to monitor how your page is stacking up against your competitors. This is especially important during busy seasons, whether that’s the summer, the holidays or back to school season.

Story by: Kelsey Thompso