Crush Your Marketing Goals The SMART WaySeptember 26, 2023
Over our 18 years of helping clients grow their businesses, we at Frankel have seen the marketing landscape shift dramatically. Which means it couldn’t be more important to set clear and actionable goals to make your effort a success. Without a well-defined roadmap, you can easily veer off course, leading to wasted time and resources. This is where SMART goals come into play. SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-bound. By applying this framework to your marketing objectives, you can increase your chances of achieving them and driving your business forward. If that sounds good to you, keep reading, we’ll delve into the world of SMART marketing goals and explore how to create them effectively.
The first step in setting SMART marketing goals is to make them specific. Vague or overly broad objectives can lead to confusion and frustration among your team members, and nobody wants that. Instead, you should aim for precision. Ask yourself the following questions:
What exactly do we want to achieve with this marketing campaign?
Who is our target audience?
What is the desired outcome?
For instance, if you’re launching a new product, a specific goal might be, “Increase website traffic by 20% within the next three months by targeting our product to young professionals aged 25-34.”
Measurable goals are crucial for tracking progress and determining success. To make your marketing goals measurable, you need to establish clear metrics and key performance indicators (KPIs) that you can use to evaluate your efforts. These could include metrics like website traffic, conversion rates, email open rates, or social media engagement.
Continuing with the previous example, you can measure success by tracking the increase in website traffic through tools like Google Analytics. By making your goal measurable, you’ll have a tangible way to determine whether you’ve achieved it.
While setting ambitious goals can be motivating, it’s important to keep them achievable. Unrealistic goals can demoralize your team and lead to burnout. To determine if your marketing goals are achievable, consider your available resources, budget, and time frame.
In the example of increasing website traffic, you need to assess whether you have the necessary marketing budget and manpower to execute the campaign effectively. If not, you may need to revise your goal or allocate additional resources to make it attainable.
Relevance is all about ensuring that your marketing goals align with your overall business objectives. Your marketing efforts should directly contribute to the growth and success of your business. It’s essential to ask yourself if the goal you’re setting is relevant to your company’s mission and vision.
For instance, if your company’s long-term goal is to become an industry leader in sustainable products, a relevant marketing goal might be, “Increase awareness of our eco-friendly product line by 30% over the next six months.” This goal directly supports your broader mission of promoting sustainability.
A goal without a deadline is merely a wish. Setting a time frame for your marketing goals creates a sense of urgency and accountability. It helps you stay on track and measure progress over a defined period.
In the example of increasing website traffic, setting a time-bound goal could be, “Increase website traffic by 20% within the next three months.” This deadline provides a clear target and motivates your team to take action promptly.
Putting It All Together
Now that we’ve explored each aspect of SMART goals individually, let’s see how they come together to create a powerful marketing goal. Consider the following example:
Goal: Increase online sales revenue by 25% in the next six months for our line of organic skincare products.
Specific: The goal specifies what you want to achieve (increase online sales revenue) and for which product line (organic skincare products).
Measurable: The goal includes a specific metric (25% increase in revenue) that can be measured to determine success.
Achievable: You assess that your marketing team has the necessary resources and expertise to execute the campaign effectively.
Relevant: The goal aligns with your company’s commitment to sustainability and natural products.
Time-bound: A clear time frame of six months is set for achieving the goal, providing a sense of urgency.
With this SMART goal in place, your marketing team has a clear roadmap to follow. They can create strategies and tactics that directly contribute to achieving the 25% increase in online sales revenue for your organic skincare products within the specified time frame.
Benefits of SMART Marketing Goals
Implementing SMART marketing goals offers several advantages:
Clarity: SMART goals provide a crystal-clear vision of what you want to achieve, reducing confusion and miscommunication within your team.
Motivation: The specificity and measurability of SMART goals motivate your team by offering a tangible target to aim for.
Accountability: Setting deadlines and measurable metrics makes it easier to hold team members accountable for their contributions to achieving the goal.
Resource Allocation: By assessing the achievability of your goals, you can allocate resources more efficiently, ensuring that you have what you need to succeed.
Alignment: SMART goals help ensure that your marketing efforts are aligned with your overall business objectives, promoting a unified and strategic approach.
As you can see, creating SMART goals in marketing is a very smart way to go. And a fundamental step toward achieving success in your campaigns. By making your goals Specific, Measurable, Achievable, Relevant, and Time-bound, you provide your marketing team with a clear path to follow and a higher likelihood of reaching your desired outcomes. If you need help establishing your SMART goals, the Frankel team would be more than willing to put our expertise to work. Feel free to reach out to us with any questions.