SMART Goals For Marketing
Why do goals need to be SMART?
Does everything need to be SMART these days or is it just me?
Even our goals now have to be SMART! Why? Well, lets take a look at this example goal below…
Jacks Coffee Shop Goals:
£1 million Turnover.
Great work Jack – everyone needs goals and 100% yes I would like a £1 million turnover too but… But, lets take step back from this and look at Jack’s goal from an outsiders perspective and judge it…
When do you plan to hit your goal Jack?
How will it happen?
Is it even achievable?
How will measure it?
So, you can see we need to do some work with this goal. Let’s do it.
Firstly, what does this acronym mean? SMART is a well-established tool that you can use to plan and achieve your goal
S – Specific
‘S’ stands for specific. To keep it simple, you need to answer all the ‘w’ questions such as what you want to accomplish, and why , and who you’d like to be involved. Then it goes onto when (timeframe of the goal), where the event is performed and which – that determines whether the goal is realistic or not.
M – Measurable
‘M’ stands for measurable and to keep it clear, it means how you measure the progress and performance of the goals. What metrics are you going to use to determine if you meet the goal?
A – Achievable
‘A’ stands for achievable and highlights the importance of a goal to you, and the things you need to do to achieve it. This focuses on how important a goal is to you and what you can do to make it happen. Goals are meant to inspire and motivation, not discourage. Think about how to accomplish the goal and if you have the resources/skills needed. If you don’t currently possess those resources/skills, consider what it would take to attain them.
R – Relevant
‘R’ is for relevant. Relevance in the sense of focus with the broader business goals. For example, if the goal is to launch a new product, it should be something that’s in alignment with the overall business objectives. Your team may be able to launch a new consumer product, but if your company is a B2B that is not expanding into the consumer market, then the goal wouldn’t be relevant.
T – Time Bound
‘T’ stands for time as with any goal, you need to have a realistic timeframe to achieve it. If the timing isn’t realistic or there isn’t a deadline at all, you could fail to succeed. Anyone can set goals, but if it lacks realistic timing, chances are you’re not going to succeed. Is it possible to achieve the interim goals that will help you reach the main goal in this time period? If the goal will take three months to complete, it’s useful to define what should be achieved half-way through the process. Providing time constraints also creates a sense of urgency.
Why use SMART goals
SMART goals are there to achieve what you want and here are a few reasons to implement them in your marketing:
- They let you focus
- They give you a clear direction
- They identify priorities
- They help with time management
- They give you the feeling of fulfilment
Now you’re aware of what SMART goals are and their benefits, it’s time to put them into action and write yours.
Write the summary of the goal – The first step to writing a SMART goal is providing a general summary to what it is. Use each letter to summarise around the word. Often, goals can be unclear and people don’t understand what you mean. This is why it’s so important to ensure the summary is completely clear.
E.G. I want more sales via the website.
This is a typical approach to creating goals, but very vague. With the current wording, the goal is probably not going to be achieved. The statement lacks specifics, timelines, motivation, and a reality check.
Now, let’s use the S.M.A.R.T. goals formula to clarify and create a new and improved goal.
Specific: We have a high level of traffic coming to the site but not as many conversions.
Measurable: We’d like to convert 2% of our traffic as opposed to the 1% we currently convert.
Achievable: We have enough traffic coming to the site, it is just a case of converting more and giving them a better experience.
Relevant: Increasing our web sales is integral to our business being successful.
Time-Bound: From May 2021 to May 2022.
SMART Goal: From May 2021 we will increase web traffic conversions from 1% to 2% by December 2021.
SMART goals are essential to your growth strategy.
It’s a good idea to set annual goals and then break them down to monthly or quarterly bites. This will help you make sure you are on track to hit your annual goals.
Review progress to your SMART goals monthly and make adjustments to your tactics based on testing, feedback and results.
If you’d like to discuss SMART goals specific to your business, please feel free to schedule an assessment.