What are SMART goals for your business and why should you implement them?
Posted: Wed Dec 11, 2024 5:48 am
Surely your company or business has set the goal of growing, increasing sales, increasing visits or followers, or some other specific goal. But how do you achieve it? How do you know if you will achieve that goal? And more importantly: how do you know if what you want to do is essential for the current position of the company? How do we measure growth?
To answer these questions we need to define marketing objectives in a SMART way, an acronym that stands for: Specific, Measurable, Achievable, Relevant and Timely.
Before breaking down each of them, it is important to know the following:
The importance of SMART goals
As we mentioned at the beginning, perhaps the main advantage is measuring the growth of your company, however, there are other advantages such as increasing the vision of the same, that is, knowing what your organization has, both human, material and financial resources, as well as the internal and external factors that will help achieve these objectives.
Once you have a thorough understanding of what your company has, it will be easier to control it so that resources can be allocated efficiently and profitably.
Below we present each of the parts of SMART objectives.
SPECIFIC (Specific)
The first question your organization should ask itself is: What gambling data malaysia phone number do we want to achieve? This will help to define the objective as much as possible, which should always be related to the type of business.
Examples: “Increase enrollment in the Bachelor of Law” “Increase traffic to the Bachelor of Gastronomy”
MEASURABLE (Measurable)
What can be measured can be improved, so you need to put a number on what you want to achieve or the results will not be interpretable. It is also important to have tools that have measured previous results and that measure the new ones.
This way you can check whether there is growth or not and what needs to be improved so that the objectives are achieved at the end of the road.
For example: “Grow by 20%, enrollment in law degree”
ACHIEVABLE (Achievable)
There's nothing wrong with being ambitious, but if you're not realistic about your goals, you could end up frustrated by not achieving them. There could even be drastic consequences, such as unnecessary layoffs or worse.
Set a goal that is achievable . In fact, it is much better to set small goals.
In the example we are sharing with you, we set a 20% growth rate, but if your sales team is very small, it may be too ambitious and you may need to rethink those numbers.
RELEVANT (Relevant)
The goal should be important to both the company and customers.
What happens, for example, if the degree with the lowest sales is not Law, but Architecture? Review carefully whether you should focus your efforts on something that is not relevant .
TIMELY (Temporal or in Time)
Every objective must be achievable within a given time frame. In this way, the marketing or sales actions carried out during that period of time will be focused on achieving that goal.
Example: “Over 12 months, we will increase enrollment in the Law degree by 20%.”
As you can see, it is important that you take into account each of the aspects of the SMART methodology to establish smart objectives that your marketing and/or sales team can achieve.
At Kayzen, we have years of experience helping companies with high-value B2B and B2C marketing make one goal achievable: closing more sales. If you want to analyze your digital marketing strategy or simply want to achieve your objectives or goals, contact us to work together on what you want to achieve.
To answer these questions we need to define marketing objectives in a SMART way, an acronym that stands for: Specific, Measurable, Achievable, Relevant and Timely.
Before breaking down each of them, it is important to know the following:
The importance of SMART goals
As we mentioned at the beginning, perhaps the main advantage is measuring the growth of your company, however, there are other advantages such as increasing the vision of the same, that is, knowing what your organization has, both human, material and financial resources, as well as the internal and external factors that will help achieve these objectives.
Once you have a thorough understanding of what your company has, it will be easier to control it so that resources can be allocated efficiently and profitably.
Below we present each of the parts of SMART objectives.
SPECIFIC (Specific)
The first question your organization should ask itself is: What gambling data malaysia phone number do we want to achieve? This will help to define the objective as much as possible, which should always be related to the type of business.
Examples: “Increase enrollment in the Bachelor of Law” “Increase traffic to the Bachelor of Gastronomy”
MEASURABLE (Measurable)
What can be measured can be improved, so you need to put a number on what you want to achieve or the results will not be interpretable. It is also important to have tools that have measured previous results and that measure the new ones.
This way you can check whether there is growth or not and what needs to be improved so that the objectives are achieved at the end of the road.
For example: “Grow by 20%, enrollment in law degree”
ACHIEVABLE (Achievable)
There's nothing wrong with being ambitious, but if you're not realistic about your goals, you could end up frustrated by not achieving them. There could even be drastic consequences, such as unnecessary layoffs or worse.
Set a goal that is achievable . In fact, it is much better to set small goals.
In the example we are sharing with you, we set a 20% growth rate, but if your sales team is very small, it may be too ambitious and you may need to rethink those numbers.
RELEVANT (Relevant)
The goal should be important to both the company and customers.
What happens, for example, if the degree with the lowest sales is not Law, but Architecture? Review carefully whether you should focus your efforts on something that is not relevant .
TIMELY (Temporal or in Time)
Every objective must be achievable within a given time frame. In this way, the marketing or sales actions carried out during that period of time will be focused on achieving that goal.
Example: “Over 12 months, we will increase enrollment in the Law degree by 20%.”
As you can see, it is important that you take into account each of the aspects of the SMART methodology to establish smart objectives that your marketing and/or sales team can achieve.
At Kayzen, we have years of experience helping companies with high-value B2B and B2C marketing make one goal achievable: closing more sales. If you want to analyze your digital marketing strategy or simply want to achieve your objectives or goals, contact us to work together on what you want to achieve.