To help you in your preparation for your group project and to make you think strategically about it, we dedicated this week’s lectures to the conceptual set-up of the strategy, namely the understanding and formulation of goals, objectives, KPIs and target audiences.
Strategy: What you want to achieve and how you are going to achieve it?
A good strategy relies on a good understanding of the business/communication environment. This includes both internal and external factors, competitors as well as the business itself. This will help strenghten your ideas and help you formulate better goals (goals are general, conceptual statements about what the business would want to achieve). To be met goals will have to be “split” into smaller, more measurable statements that reflect your desired outcomes (or Key Performance Indicators – KPIs). Well formulated objectives should provide information on the target audience and the channels used, based on which both the tactics and the plan to implement them will be developed. Also, objectives and goals need clear verbs such as improve, support, change, maintain which, to a degree, give a sense of direction.
Goals can be related to reputation, relationship or task. Objectives are based on awareness, acceptance or action. KPIs are based on knowledge, presiposition and behaviour. Goals are more general. Objectives are specific, measurable, attainable, realistic and timely (SMART). Chaffey has some good advice on setting goals.
Now consider a mix and match:
Remember, goals dictate objectives, objectives dictate tactics.
You should not consider what platform to implement your idea before you have clarified your opportunity and environment, goals, objectives and target audience.
Choose your target audience carefully
The more specific you are in describing and defining your target audience, the better. During this week’s lecture we covered a variety of clarsifications.
Kotler’s 4 areas of segmenting the consumer market should be particularly useful:
- demographic (gender, income, social class, generation, income etc)
- geographic (education, affluence, urbanization, race and ethnicity, mobility, family life cycle)
- psychographic (lifestyle, activities, interests, opinions)
- behavioural (initiator, influencer, decider, buyer, user)
In defining your target audience you should consider all 4 aspects. When you feel stuck, try to imagine your “typical customer”. The Apple vs PC commercials are great examples. And so is the Four Major Consumer Segments infographic. The prezi has plenty of more examples.
Remeber that while your business/client/idea will have a target audience, so do social media platforms (your channel).
A succesful campaign is the one that manages to find the right audience and address it via the right channel.
Some more readings:
- Gladwell’s “Why the revolution will not be tweeted“
- All the other readings refereced in the prezis are up on myBU