What process do you follow when setting marketing goals? If you didn’t answer right away, you probably don’t have a process. If that’s the case, try setting SMART goals. SMART is an acronym for a goal setting that comes from the project management world. While there are a lot of definitions, the one I prefer is Specific, Measurable, Actionable, Realistic and Time-Based. Here’s how you can apply SMART to your next marketing plan:
- Specific - be as specific as possible – for example, increase inbound leads by 300% by September 1st – you can be even more specific and set a number. If you can’t measure whether or not you hit the goal on a set date, you’re not being specific enough.
- Measurable – as an extension of Specific, your goal should be measurable. If you can’t figure out how to measure it, you need to get more specific or rethink your strategy. To quote Peter Drucker, “What Gets Measured Gets Managed.” When it comes to measurement, you should be able to measure your progress against the objective with relative ease. If you don’t know how you will measure your objective, you need more definition.
- Actionable – you should be able to complete your objectives within a reasonable amount of time. If your objective is too far in the future, or too complex, break it down into a shorter-term objective. Launching a blog on a particular topic to generate hundreds of leads more per month is not a single step. There are hundreds of steps that lead to achieving the goal – break it down into sub-projects and task lists with responsibilities and deadlines.
- Realistic – be honest with your objective setting. While you want to be aggressive, you also need to be realistic about what you can achieve by your project deadline. The more you use SMART objectives, the more accurate you will get in forecasting realistic outcomes. If you are Specific and you set Measurable, Actionable goals, you’ll be able to assess how Realistic these goals are over time.
- Time-Based – your objective should ALWAYS be tied to a date (or time). This might be “By the end of today”, it might also be five years from now. The more specific you can be with this deadline, the better. Remember, long range goals can be broken down into smaller and smaller pieces.
There are a lot of different ways to set marketing goals, but I’ve always liked using the SMART approach to help me think through goal setting. Are my goals specific enough? Can they be easily measured? Can I automate the measurement? What milestones do I have along the way to make sure I’m on course?
What suggestions do you have for goal setting? Have you used the SMART approach before? Do you have any variations on the acronym? Please share your thoughts below.
