Goal setting and strategy are two very different ideas that are often confused with one another, especially when used in the context of marketing. It is essential for marketers to understand the difference between the two. In order for a business to function smoothly, it must have a plan that works. Both strategy and goal setting are important parts of a business strategy, and although both terms are used interchangeably, there is a fine line between them as they both do separate things for the business. Let’s explore what makes them different.
In order to develop a strong business strategy, goals must be clearly defined. Without having defined goals and methods of supporting those goals, it becomes difficult to measure progress and adjust strategic plans accordingly. A goal is essentially the means of deciding what should be accomplished and doing whatever necessary to achieve it. An article by ItsGuru explains this idea best by stating that, “Goal setting emphasizes that goal setting is a three-part process. For better goal setting you have to do more than just set the goals. You have to try everything to accomplish it which means you have to set plans to make it happen. Make it clear in your mind the personal goals that you define as a new year resolution and business goals have a different purpose, but they share a similar goal setting process.” Goals are necessary to provide businesses with an organized structure so that they can march on in the right direction towards becoming successful. This is why goal setting is important. Once a goal has been determined and set, businesses and marketers alike become driven to accomplish those goals.
On the other hand, we have strategies. Business strategies are important for determining what a business must do to reach goals and objectives. An article by Thought Leadership Leverage states that “Strategy is an exercise in problem solving. While the problem may be as varied as the development of your platform, the launching of your book, the way you will gain market share of the way you will differentiated yourself and your content in the market place, these are all problems that a well thought out strategy is focused on solving. Goals that support the strategy are critical, but goals do not solve problems. Goals are a measure of progress. Goals support the strategy.” In other words, a strategy should have a list of specific goals that must be created in order to best assess the progress. A successful strategy has clear priorities and focuses energy on reaching goals.
Regardless of business size, goal setting and strategies are two important pieces of the puzzle that when set up correctly, can help a business grow exponentially. Both are different but equally important elements that are critical to a business’s success. Once a goal is developed and strategically planned, it’s time to achieve it!