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Eight Goals to Set for Q1 Success – How to set the right goals – Best Practice Business Series Part #2

Nov 20, 2023 | Series, Tips & Tricks

8 Common Goals You Should Set - Quarterly Planning
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Setting and choosing the right Goals to Set for Q1 Success

Are you ready to make the most of the first quarter (Q1) and set yourself up for success?

To achieve that, you need to learn how to set the right goals. Goal setting is a powerful tool to navigate the challenges and opportunities that lie ahead of you. When you take the time to set clear and achievable goals, it will keep you focused, motivated, and, more importantly, on track to achieve your goals. And without achieving your goals, it’s clearly impossible to achieve business success.

Success will follow.

Eight common goals you should set

Here are eight common goals to set for Q1 success as an online business owner.

Increase Website Traffic

Set a goal to increase the number of visitors to your website using various strategies. These strategies include search engine optimization (SEO), thoughtful content marketing, inclusive social media advertising, and collaborations with influencers or other businesses in your industry.

Without traffic, your website is as good as non-existent. It’s like a shop on Manhattan that no one ever enters – you simply can’t expect people to buy from you when there’s no people around. You should be able to quickly learn just how to set the right goals, simply from your website performance over a short period of time.

Whatever you can do for this, you simply have to do it. To achieve success, twice the traffic means twice the chance you have to achieve business success online. There are no shortcuts to that.

Set the right goals for your success

Grow Your Email List

Like already mentioned, your email list is a list where you collect prospects that are interested in your product or service. It’s like a rolodex you can use any time you like. An autoresponder (see Essential Tools for Success) is your best friend in this task. Again, learning exactly what goals to set should be clearly visible from your lists performance.

You must create an email list using one of the available tools, and then grow it by attracting new subscribers. This us usually done by offering incentives like exclusive content, discounts, or freebies to encourage sign-ups.

Regularly engage with your subscribers through informative newsletters or targeted email campaigns. If you get this part right, success will surely come your way.

Improve Conversion Rates – Set the right goals

A conversion rate, simply put, is the ratio between the number of visitors your website gets and the number of visitors that take some sort of action on your website. This can be anything you want to measure, clicks, watch time, or purchases. What this rates tell you is how good your website is optimized for turning casual visitors into customers. As such, this is easily one of the most important metric you can think of.

Imagine getting 100 visits per day and only 1 conversion – a purchase of some sort. If you work on your landing page and get to an average of 2 conversions per day, this already means a whopping 100% increase. The calculation is easy then, right?

Improve conversion rates by optimizing your landing pages, checkout process, and call-to-action buttons. Analyze user behavior and conduct A/B testing so that you can make data-driven decisions that truly enhance the user experience and increase sales. Goal setting in this area should be one of your primary things to do.

One very powerful and seemingly very simple strategy is to offer bonuses for certain action. You can give your visitors discount coupons for signing up to your list, for instance. Or you give your buyers additional ebook or training. The reasons why this is not as simple as it looks at first sight are described in more details in THIS POST.

Expand Product or Service Offering

Consider expanding your product or service offering as the needs of your target audience evolve. Conduct market research, identify gaps in the market, and develop new offerings that align with your brand and customer preferences.

For example, if you’re running a yoga themed website and have all sorts of yoga equipment for sale, check if there are any yoga schools in your area. Try to get in touch with them and negotiate a discount coupon for people signing up via your website, for instance. This way, you could be earning a few % from the possible purchases people make at their shop.

Enhance Customer Experience

Customer experience is what customers get on your website. It’s either informative and has value for them, or not so much. Strangely enough, the better the customer experience, the more they’re willing to stick around and spend on your website. Who knew, right? I’m joking, we all know that feeling when browsing the web.

Make it a goal to provide an exceptional customer experience at every touchpoint, including prompt, personalized customer support, streamlining your order fulfillment process, and collecting customer feedback to continuously improve your products or services. Don’t go easy on this, make this goal setting your every day task.

Increase Revenue

Set a revenue target for Q1 so that you can develop strategies to achieve it. Include ideas like launching new products or services, upselling to existing customers, or exploring additional revenue streams.

You have to be particularly careful to set the right goals here. This target has to be within some reasonable margins.

If you set it too high (like, I want to make a million next year while you’re barely getting any visitors), you’ll find yourself covered in tasks you cannot fulfill. As usual, depression follows, and your plan is heading towards tragedy.

Likewise, don’t set it too low. You have to find a level that will motivate you to work on it, rather than feeling exhausted even thinking about it. In other words, it has to be achievable by means you can handle.

Goal setting: Increase revenue

Enhance Brand Awareness

Your brand is your name online. It’s what people remember, and building a recognizable brand is hard work, but also the best guarantee people will know you and buy from you.

Develop strategies to increase brand visibility and recognition. This could involve initiatives like influencer collaborations, guest posting on popular blogs, or running PR campaigns.

Building a successful brand is a strategy on its own and we’ll not discuss it in depth here. One thing you’ll need for sure is a catchy graphical appearance, and one of the easiest tools you can use for that is ClickDesigns.

Improve Business Processes

Your internal business process can make or break things that seem sure at first glance. If you have a poorly organized shipping or packaging service, for instance, you’ll find yourself loosing too much precious time on that, instead of doing things that bring additional value to your business.

Evaluate your internal business processes and identify areas for improvement. By doing this, you will have a clear picture of the goals to set. Streamline workflows, automate repetitive tasks, and implement efficient systems and tools. By optimizing your operations, you can free up time and resources to focus on growth and innovation.

Summary

Ultimately, goal setting is essential for Q1 planning success and should relate to your mission as a business owner. Setting and tracking clear goals ensures that you and your team stay on the right track to achieve your business objectives. Investing in goal setting will pay off in the long run with increased productivity, improved customer experience, and higher revenue.

While many goals will not be achievable immediately, setting them up properly will make your life much more manageable and enjoyable. Not to mention the personal satisfaction that achievements bring to you. Remember, set the right goals for the best success.

Partnership to success - John Thornhill

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Series Navigation<< What is Quarterly Planning – Best Practice Business Series Part #1Quarterly Work Plan: Six Q1 Challenges to Be Aware of – Business Series Part 3 >>
This post is part 2 of 12 in the series Quarterly Planning for Q1 success
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How to create an effective Q1 plan

How to Create an Effective Q1 Plan in 8 Easy Steps

When it comes to online businesses, Q1 planning takes into account different factors compared to traditional physical stores. Due to the fast-paced digital market, online businesses need to stay updated on changing consumer trends, technological advancements, and shifts in online behaviors.

A well-thought-out Q1 plan is crucial for all businesses, as it sets the tone for the entire year. It forms the basis for yearly objectives and helps you allocate resources strategically, plan necessary steps, and set achievable targets.

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