Financial Objectives for Ads

There is a roller coaster of a journey when crafting financial and strategic objectives and setting realistic growth targets that will catapult your advertising campaigns and, ultimately, your business into success.

Financial Objectives: How to Make More Monies

There is a world of potential for financial growth for your business to thrive; even in a stressed economic climate, we can find ourselves in a cost-of-living crisis.

You can increase profits in two main ways: by lowering costs or by boosting revenue.

  • Increase Profits:
    • Enhance the difference between what you earn and what you spend.
    • Example: Review your subscriptions; we saved something like $16,000/year one year just by doing this. We moved from Google Business to Microsoft Teams, got more tools centralised in one system, and saved money. Yes, it was a learning curve. Yes, I absolutely annoyed my team in the process—I’m sure of it.
  • Increase Revenue:
    • Grow the amount your company earns.
    • Example: Raise prices or sell more units without sacrificing customer satisfaction, or upsell to services they need and probably don’t know you even offer because you’ve never mentioned it before or they missed it on your social media feed.
  • Increase Volume:
    • Sell more units or generate more leads.
    • Example: We’re in a market climate called the ‘lipstick market’ If any of you have ever heard me speak, you would know that I’ve spoken to this a lot that during the Great Depression, people would still buy lipstick because while it might have cost $50 to buy, it had a long term use that would make people feel good about themselves over a longer period of time, what is the lipstick offer that gets them to get to know you and build that very important trust piece.

Strategic Objectives: Building a Strong Brand

Strategic objectives are about financial success and building a strong brand that can transform your business. A strong brand has the power to enhance your financial success significantly.

  • Brand Strength:
    • Develop a positive perception of your company and products. Share your testimonials. They will speak volumes.
    • Example: Increase brand awareness through social media and content marketing. Consistency is key here.
  • Brand Equity:
    • The value of having a well-known brand name is that you can take years to build this and minutes to lose it.
    • Example: Leverage brand recognition to drive sales and customer loyalty.

Setting Realistic Growth Targets

Your growth targets should reflect your business’s maturity and market position, ensuring you’re always moving forward.

  • Mature Companies:
    • Expect modest growth due to market saturation.
    • Example: Aim for 5-10% annual growth.
  • Less-Established Companies:
    • Pursue ambitious growth, but be mindful of diminishing returns.
    • Example: Set targets of 20-30% yearly growth.

Creating Value and Measuring Change

Setting clear, measurable objectives will help you maximise the effectiveness of your advertising campaigns and grow your business.

Ready to take the next step in your marketing and advertising journey? Contact us today and learn how our managed service can help you achieve your business goals.

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About Ming Johanson
Ming works with businesses across the globe from business development to managing (with her team) complex digital strategies that deliver tangible and desirable financial returns. Recently recognised and awarded for her ongoing contribution to the technology industries in the 2019 Women In Technology Tech [+] 20 Awards, Ming is a passionate mental health Ambassador for R U OK? Day, a mentor at Startup Weekend Perth and a regular Australian Media Commentator as a Tech Evangelist on a range of topics in Mental Health, Social Media & Technology.