Mastering Strategic Marketing: Setting up Achievable Targets

In the dynamic realm of digital marketing, the ability to set and achieve strategic goals is paramount for success. In many cases, 'achievable' implies that someone has already determined results in similar fields. Therefore, by understanding the outcomes achieved by our rivals, we can formulate ideas and figures that are realistically attainable. The first step is to comprehend where we can access competitors' data and how we can interpret that data to align with our goals. SimilarWeb emerges as a powerful ally in this journey, especially when focusing on competitor analysis and market research. By adopting the SMART approach—Specific, Measurable, Achievable, Relevant, and Time-bound—you can effectively leverage SimilarWeb to enhance your marketing strategy and establish realistic targets.

It's crucial to note that tools like SimilarWeb offer relative estimations rather than absolute figures. While they provide a directional guide, the data should be considered in context. Use the insights gained for comparative analysis, allowing you to benchmark your performance against industry standards and make informed decisions.

Data source analysing

For instance, in our project, we are starting from scratch with a new website, and we aim to understand the results we can achieve. The key metric we want to track is site traffic, bounce rate, time on page

The main idea of achieving any target involves the comparison of values using a consistent metric. This comparison must be facilitated by an identical ruler. In this situation, we employ ranking results, and it becomes meaningful when we compare them with future iterations of themselves

Here are the most important figures. They inform us about the ranges and distribution of traffic, which we can use to establish goals

Also we interested in visit duration, bounce rate and pages per visits

Distribution among countries can provide insights into the proportions of traffic. This is useful when trying to estimate the number of visits we can reach in a particular country

Harness the data provided by SimilarWeb to comprehensively understand the broader market landscape. Uncover trends, identify potential areas for growth, and assess market dynamics. Armed with this knowledge, you can set achievable goals that are not only aligned with market conditions but also responsive to emerging opportunities.

All necessary data for our project has been collected, and now we have at least some reference points. Let's calculate it for the entire year, retrospectively

To perform the calculation, we need to extract data from the pictures above with monthly reguarity. So I use clickhouse DB to store extracted data and update it regularly. I will design it the way to spent no much time to update it next time. The next step will involve transformation and validation. Finally, we will create a model and be capable of calculating all we need.

Modeling

Data modeling is instrumental in grounding goal-setting processes in empirical evidence, providing a solid foundation for strategic planning and increasing the likelihood of achieving realistic and attainable objectives

Choose Optimal Scenarios

By being realistic and attainable, goals foster a culture of motivation, confidence, and purpose among team members. This positive atmosphere not only enhances collaboration but also boosts creativity and innovation within the team, as individuals are inspired by the tangible milestones set before them

Moreover, achievable goals contribute to better communication and alignment within the marketing team. Team members share a common understanding of what needs to be accomplished, leading to improved coordination and a unified focus on strategic objectives. This alignment translates into enhanced productivity, as everyone works cohesively towards realistic benchmarks, optimizing their efforts and time

Additionally, setting achievable goals empowers marketing teams with the ability to demonstrate measurable results to stakeholders. Tangible progress against realistic benchmarks serves as a powerful tool for reporting and showcasing the team's effectiveness. This, in turn, strengthens the team's credibility within the organization and fosters a positive relationship with key stakeholders