How to Set Campaign Goals

How to set marketing campaign goalsAre you generating enough leads to meet your revenue goals? If you’re winging it, you’re less likely to hit your numbers. If you have to feed a village, you can’t toss your line and hope for the best.

Instead, tie your marketing campaigns into your company’s customer and revenue goals. A few simple calculations can help you understand

  • The # of impressions you’ll need
  • The number of leads you need to generate
  • Whether your campaigns will produce enough customers/revenue to hit your goals

 

How to Set Campaign Goals

Here’s how: First, calculate the number of customers you’ll need to generate.

For what timeframe do you want to generate this estimate?
What’s your revenue goal for this timeframe? A
How much does an average customer spend in this timeframe? B
Total number of customers needed (A/B) C

Now estimate the % of leads that become customers.  (If you don’t know this figure, the head of your sales team should – or use the calculation below.)

Number of new leads you generated in the last 6 months D
Number of customers generated from those leads E
% of leads that become customers (E/D) F

Now you can project how many leads and impressions you’ll need from your campaigns in this period:

Number of leads you’ll need (C/F) G
Average response rate you get from your campaigns (as a %) H
Number of impressions you’ll need to generate (G/H) I

It’s a simple formula but it’s a starting point.  When you set up your campaigns with a focus on the end result — customers & revenue — you’re in a better position to hit your goals.  And if you’re falling short, you can work to:

  1. Increase your reach — generate more impressions (send out more emails, launch another campaign, etc.)
  2. Improve your response rates with better offers, better targeting, better creative
  3. Improve your conversion rates

To download a programmed spreadsheet and access interactive, guided templates covering all aspects of marketing campaign planning, sign up for a free preview account of our marketing planning and management app.

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