Four quarterly goals you can set and achieve in your business
When it comes to quarterly business goals, the key to success is to be realistic and super focused.
While there are lots of goals you can target in your business, the truth is that you can’t achieve all of them in one quarter. So, instead of aiming for big goals that require more than ninety days to accomplish, shoot for goals that you are likely to complete within this time frame.
So, what are some quarterly business goals you should consider?
Well, that’s what I am going to tell you in this post. I am going to share four types of goals that will make a difference to your business. And, more importantly, they can be achieved in a ninety-day period.
Ready to start setting and rocking your quarterly goals?
Let’s do this!
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1. QUARTERLY BUSINESS GOAL #1 – FINANCIAL GOALS
One type of goal you can set every quarter is financial goals.
You can’t grow a successful business unless you can increase your revenue and profit. Setting new financial goals every quarter will ensure that your business is always in good financial shape.
When it comes to financial goals, there are lots of goals to choose from. However, it’s unrealistic to think you can achieve some big financial goals in three months.
With that said, here are some examples of financial goals you can target. These goals can be achieved within ninety days, and don’t require too much effort.
QUARTERLY FINANCIAL GOALS
1. Raise your prices to generate more revenue and profit. You don’t have to do this with all your products or services. Pick one or two, then track their performance after three months. You can also try different price points to see what works.
2. Reduce business expenses. Even if you can’t do anything else, you should be able to cut some of your business costs. I’m willing to bet you are paying for things you don’t need (or overpaying for some things).
So, take a look at your business expenses and try to eliminate unnecessary costs or shave some dollars off essential business expenses.
3. Increase revenue and profit by selling more to existing customers. Increasing your average customer spend is a great way to boost your revenue and profit. If you can get your existing customers to buy more, you can earn more money.
There are lots of ways to accomplish this goal but two easy ways are upselling and cross-selling.
As you can see, setting realistic financial goals isn’t that difficult. The examples I have shared can be easily achieved in three months, but you don’t have to limit yourself to them.
Feel free to come up with financial goals that are unique to your business (as long as they can be accomplished in three months).
2. GOAL #2 – MARKETING GOALS
Another type of goal that can make a difference to your business is marketing goals.
Marketing is such a big topic because there are so many strategies and marketing activities to choose from. This is one of the reasons a lot of business owners struggle with marketing, and many don’t like to do it.
The key to marketing success is focus and consistency.
The best way to approach marketing is to find one or two strategies that are effective. Once you find them, you have to do them consistently to get your desired outcome.
Now, let’s look at some quarterly marketing goals that you can target.
QUARTERLY MARKETING GOALS
1. Increase your customer base. First let me say that this is overly broad, so you will need to be a bit more specific. What can you do in ninety days? How much can you increase or grow your customer base in three months?
You also need to figure out where those customers are going to come from. In other words, how will you grow your customer base? For example, running Facebook ads, increasing your social media followers or audience, converting more warm leads (for e.g email subscribers), and so on.
There are lots of ways to grow your customer base, so choose how you want to go about it. Additionally, be specific – for example, “add fifty new customers over three months.”
Your target depends on where you are right now and what you can realistically achieve. If you are at 0-10 customers, 500 would be unrealistic, whereas 50-100 is possible.
2. Increase brand awareness. Increasing brand awareness is a marketing goal that can be achieved in ninety days. If you are a new business owner, this should be one of your priorities.
You can’t increase your customer base if no one knows that you exist, so it makes sense to focus on this area of your business.
Here are some easy ways to increase brand awareness:
- Show up more often on social media. This can include posting more often, doing lives, posting reels, etc.
- Guest posting
- Guest appearances on podcasts
- Collaborating with other business owners
Improving brand awareness has a lot of benefits. However, you need to have a clear focus and strategy if you want to be successful. Choose one or two channels or platforms, commit to them and be consistent.
Lastly, review and evaluate your performance at the end of the quarter. This will help you assess your return on investment.
3. Increase website traffic. While this is more of a long-term goal than a short-term one, I believe it’s worth mentioning here.
Increasing website traffic is a good indicator of how well your marketing strategy is. The more traffic you can drive to your website, the more sales, and revenue you can generate (as long as every other thing is in place).
So, while you may not see a huge spike in your website traffic in three months, you can lay the foundation for future traffic growth.
So, how do you achieve this goal? Here are a few strategies that can work really well.
- Write more blog posts or articles
- Learn or improve search engine optimization (especially keyword research)
- Experiment with other types of content like video
- Promote your content consistently
- Write content that addresses user intent
Increasing website traffic is a topic/blog post on its own, so I am going to leave it there. However, I have given you enough ideas to get you started.
Use this information to create your content and traffic-building strategy.
3. GOAL #3 – CUSTOMER GOALS
Since customers are the lifeblood of your business, it makes sense that you should always strive to improve your relationship with your customers (both potential and existing customers).
Improving customer relationships will improve your bottom line and lead to additional growth.
So, what are some customer goals you can target and achieve within ninety days? Here are a few that are realistic:
- Improve your customer retention strategy. This includes how, and how often you communicate with your existing customers. For example, you can send more nurturing, educational, or informational emails (as well as promotional emails).
- Improve your sales funnels. Streamline the process and make it easier for your customers to buy from you.
- Cut down on the number of complaints or negative feedback including refund requests.
- Provide more support to your customers. This can include responding to customer inquiries in a timely manner.
- Understand the needs of your customers so you can better serve them. This includes offering products or providing services that meet their needs.
There are quite a number of customer goals you can achieve in a quarter. Don’t limit yourself to these five. Brainstorm some ways you can improve the customer experience and strengthen your relationships.
Happy customers are an invaluable asset to your business. Treat them right and watch your business grow.
4. GOAL #4 – BUSINESS MANAGEMENT/OPERATIONAL GOALS
Sometimes the easiest and best goals to set are the ones you can control the outcome. Operational goals fall under this category.
You can’t talk about quarterly business goals without talking about how to improve your business or make it more efficient.
Heads up! I am going to lump a few things together under this section even if they don’t strictly belong here.
So, here are some management/operational quarterly business goals:
- Improve the quality of your products or services. Similar to what I said earlier, you don’t have to do this for every product (especially if you have a lot of them). Start with one or two, get some feedback, then proceed to the next.
- Invest in some tools, systems, or resources to make your business more productive and efficient. Find a way to automate or streamline some tasks, so you can have more time to focus on money-making activities.
- Other operational goals to target include setting up an effective system, setting up an automated bill-paying system or a tracking system to help you keep track of your business performance, creating a more efficient product-delivery system, and so on.
As you can see, there are lots of ways to improve your business operations. To get started, think about the areas of your business that are underperforming. How can you improve them?
If your business is struggling on the operational level, try to identify the reasons why, and then create a plan to resolve the issues.
Final thoughts on 4 quarterly business goals that will make a difference
When it comes to goal setting, the key to success is to go after some low-hanging fruits, and also to keep your goals as realistic as possible.
There are lots of goals you can target in your business, but to succeed, you need to focus on goals that align with your overall vision for your business. In addition, your quarterly goals should also help you accomplish your annual goals.
In this post, I have given you lots of ideas and examples, so it’s up to you to decide which goals make sense for your business.
Finally, don’t forget to think about the resources you need to accomplish your goals. And, remember to create an action plan. Psst…I have a quarterly business planner that is pretty handy for outlining your business goals and action steps. Check it out below.
Do you set goals for your business every quarter? What kind of goals do you set?