11 Oct What Are SMART goals and How Do You Set Them?
What Are SMART goals and How Do You Set Them?
From YMG – The Award-Winning Digital Marketing Agency in Chelmsford, Essex.
Running a small business is built around goals. Everyone starts a business with an end-point in mind, whether it’s “I want to be rich” or “I want to solve a problem”. Marketing campaigns are no different. However, setting the wrong goals or being too ambitious can be a disaster for your marketing campaigns. This is where SMART goals come in.
What Are SMART Goals?
SMART is an acronym. It stands for:
Although there are other variations on the wording, the principle stays the same.
SMART goals help you set your goals so you can actually complete them. While “I want to make money” is a good goal to have in mind, there is no end point or way to track that.
“I want to make £1,000,000 revenue in 12 months by increasing my website traffic and raising the average order spend” is a goal that is a lot easier to aim for.
Let’s break down the SMART goals.
Know exactly what you want. Your goal needs to pinpoint an exact end for you.
Do you want more money? How much more do you need?
Do you want more customers? If so, how many more would you like?
Do you want to be “Instagram famous”? How many followers or picture likes do you need to achieve that?
What can you do to track your goals and know when you hit them? Unless you set an actual metric to track, you may never know when you achieve them.
Pick your metrics and know where this metric can be found. If you don’t set which numbers you’ll track, you’ll get inconsistent results.
If you are tracking customers online, will you use Google Analytics sessions or pageviews?
If you are tracking money, will you use revenue or turnover?
If you’re tracking social media, will you use followers or engagement rate?
If you set unattainable goals, you’ll always be disappointed when you don’t hit them. If you consistently miss your goals, you might become disillusioned and give up on your businesses.
Set one big overall goal and set small, short, attainable goals to help you achieve it. Use existing analytics to predict the trends and aim just above that. Small wins help the overall goal and keep you productive.
Is your goal going to help your business?
Gaining an extra 1000 customers seems like an achievable and relevant goal. But can your business handle the additional demand? Do you have the stock or manpower to fulfil your promises? Make sure your goal will actually help your business overall and is relevant to the skill sets you have available.
“A goal is a dream with a deadline.”
It’s essential that you set a deadline date for your goals. Most people work better with deadlines. Set a deadline for your overall goal and short time frames for intermediate goals. Try to set daily and weekly goals to help gain small wins throughout the week. This is proven to improve your productivity.
YMG are an award-winning and full-service digital marketing agency based in Chelmsford, Essex, and home of the Jargon Buster series, helping business owners to understand the technical terms of digital marketing.