Setting SMART Business Goals

We’ve all set goals at some point in our life. Some short term and some long term. Some achievable and some… not so much. As a small business owner, setting goals for marketing success can seem like you’re throwing a bunch of spaghetti at the fridge. How do you know what marketing tactic is best for your business? What is going to resonate with your customers to give you the highest return on investment? With success at stake, it’s time to create a road map for success – it’s time to start setting SMART goals. SMART goals are goals with an action plan that can be reviewed, measured and adjusted. Not sure if the goals you’re setting are SMART? Then follow the model below to ensure you’re setting actionable SMART goals for your small business initiatives.

Specific – When setting a goal, be specific about what you want to accomplish. Can the detailed information sufficiently pinpoint any threats or opportunities?

Measurable – What metrics are you going to use to determine if you meet your goal?

Actionable – Can the information you record be used to improve performance in real time or in future campaigns?

Relevant – Can your recorded information be aligned to a specific issue? Does it solve a consumer problem?

Time-related – Providing a REALISTIC target date for deliverables (accomplishing your goal) is vital.

After you’ve created your list of SMART goals, you’ll want to begin to develop a Strategy for how to achieve each of the SMART goals you’ve outlined for your business. Think of each strategy as a plan to get from Point A to Point B (where you are now to where you want to be). A Strategy consists of tactics (smaller day to day tasks) and Key Performance Indicators (ways to measure such tactics). By setting SMART goals, you’re creating a clearly defined action plan for your efforts so you can manage your time more effectively as a small business owner. Reviewing the results of your efforts in detail and recording what tactics work best will help you develop more successful campaigns and relevant strategies in the future.

References

Marketing Strategy vs. Tactics – Explaining the Difference. (2019, June 16).
Retrieved from: http://charliesaidthat.com/digital/digital/difference-between-marketing-strategy-vs-tactics-an-example/



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