Setting marketing goals for your business is not only important but NECESSARY for success! When setting goals we suggest you set SMART goals. SMART stands for Specific, Measurable, Attainable, Realistic, and Time-Bound.
Set time aside to think through each part of your business and identify what marketing goals you need and how you’ll measure them. Here’s how we work through each step in the SMART goal framework to set goals for integrated marketing efforts.
S FOR SPECIFIC
Define goals for both revenues AND for your brand.
The goals you define for your company — both for your specific marketing initiatives and for your company as a complex body – set the tone. They communicate what’s a preference, what you hope to accomplish, and ensure accountability.
It’s crucial that when you’re setting these goals that you’re setting them both for revenue and the success of the brand.
M FOR MEASURABLE
Determine key performance indicators (KPIs). Defining success early on is crucial to estimate your ongoing progress. What criteria, or key performance indicators (KPIs), will you use to demonstrate that you’ve achieved success?
A FOR ATTAINABLE
This focuses on how important a goal is to you and what you can do to make it attainable and may require developing new skills and changing attitudes. The goal is meant to inspire motivation, not discouragement. Think about: how to accomplish the goal, if you have the tools/skills needed, if not, consider what it would take to attain them.
R FOR REALISTIC
Verify that what you’re proposing is practical. The Realistic SMART goal step provides an opportunity to chat with your team about whether the goals are realistic. Is your team up for the challenge? Do they think it can be done? Once you’ve matched your goals and KPIs with actual time-sensitive expectations in the next step, you’re ready to develop a useful, goal-oriented marketing strategy.
T FOR TIMELY
Designate short and long-term marketing goals. How long will it take to reach the goals you’ve set forth? Match your goals to timeframes.
Examples of SMART Marketing Goals
- Grow leads by 5% via email newsletter conversions in the next month.
- Double our website traffic over the next 12 months by publishing 2 high- quality, targeted blog posts per week.
- Boost our Instagram engagement rate from 4% to 5% in 30 days by publishing 15 high-quality images and/or videos optimized with relevant hashtags.
- Improve our customer retention rate by 5% for the year by implementing cross-selling and upselling strategies and offering bundled prices.
- Boost our client retention rate by 25 percent in six months by conducting a customer listening campaign to learn where to add value for mature accounts.
- Boost our average open rate for our email marketing campaigns by 10 percent by split-testing headlines.