My answer is NO, here are some reasons:
Setting long-term strategic objectives for a website is realistic, it could certainly be getting great opportunities for better targeting or optimization even though the rate of change in the marketplace is so rapid. This report will discuss the importance for businesses of setting strategic objectives to measure their marketing activities to achieve a measurable return on investment (ROI).
Frantisek & Simberova (2015) state that a strategic plan is an important part of effective measurement in the marketing performance system. It is essential to focus on appropriate aspects and indicators to monitor the performance of the corporate strategic process. Setting strategic objectives is an important part of complex corporate strategy. It is necessary that companies measure performance to discover the accurate strategy. It is important to set appropriate objectives and goals to measure the marketing effectiveness and keep them up to date.
Piskurich (2015) states that strategic objectives should be specific, measurable, attainable, relevant and time-bound (SMART) as well as aligning with the company’s mission and vision to be able to monitor progress toward process and outcomes. These objectives will help business owners accomplish the purpose of the company and attain a specific market position within a defined period of time.
Chaffey (2016) states that the planning process helps business owners to understand the different factors that may affect the business. By putting together a strategic plan this can provide the insight that serves as a framework for managers to make decisions. Having a clear understanding of the business’ strengths, weakness, opportunities and threats will help business owners to figure out where the business currently stands in the market and how to reach their target market.
Digital platforms have eased the way consumers access products and services related information and an online strategy is an optimal channel to attract consumers. Digital marketing has turned into the ultimate tool to proactively surpass the competition. Chaffey (2018) states that the end objectives of digital marketing are no different from the objectives that traditional marketing have, traditional marketing emphasises the focus of marketing activities to achieve profitability whereas digital marketing focuses on interacting with consumers as well as utilising digital technology to achieve marketing objectives (Chaffey 2018). Even though digital marketing uses different communication channels and techniques. Setting strategic objective is a definitive guide on how to position brands, products and services to help consumers to understand why your product or service is better than, or different from competitors in the same industry.
Businesses can use digital media effectively to engage with their target audiences and get great results of using social media or email marketing without setting strategic objectives, however, without strategic objectives there can be no long-term success. Business cannot measure and evaluate company’s performance, for example, almost every company has a website with analytics, and businesses who don’t review and act on them will miss opportunities to reach potential customers.
Bjerk and Renger (2017) argue that setting long-term objectives can be misleading without justification and further explanation of facts in how and when they should apply in a certain situation. However, by implementing a planning process, this still provides a mechanical approach to evaluation of a company’s marketing activities in today’s online shopping environment.
Businesses don’t have a clear goal for what they want to achieve which in turn means there is no specific measurement that can be used to evaluate companies. To be able to succeed with digital marketing, there is a necessity for incorporation of traditional marketing strategies as part of the marketing approach.