Updated: Sep 12, 2019
As a business owner, what’s your number one goal?
Obviously, you want to own and run a successful business, but how exactly do you accomplish that? There’s a big difference between wanting success and actually building it. And an important part of leading a profitable company is not only to determine your goals, but discover what it takes to achieve them.
Many of us set objectives like, “I want to get more clients” or “I want to increase revenue”, which are great to aim for. However, if you turn these into S.M.A.R.T. goals, you can pinpoint exactly what you want to accomplish.
S.M.A.R.T. stands for:
Let’s use the general marketing objective, “I want to grow our social media presence” as an example of how to turn a common goal into a S.M.A.R.T. goal.
Be specific about what you want to achieve. If your goal is to grow your company’s social media presence, it’s going to be hard to determine whether or not you accomplished it. Since it’s such a broad statement, you haven’t defined what growing your company’s social media presence really means. Technically, if one social media user follows you, comments on a post, or likes a status on any platform, you’ve reached your goal. But that doesn’t do much for the overall objective of growing your business. Instead, focus on answering questions like: What social platform do you want to use to grow your presence? What type of content do you want to use on your social accounts? How do you want users to engage; likes, comments, direct messages, etc.?
Set goals that you can measure numerically. Again, if your goal is to grow your social media presence, at what point will you be happy with your efforts? You haven’t defined what value determines success. Instead of using a broad term as your goal, try to identify the exact figure that you’d like to reach. In other words, how many likes, comments, or direct messages are you after? How many followers do you want to add? How many platforms do you want to use? All of these should be measured numerically to ensure that your marketing strategy is working for your business.
Be realistic. Growing your social media presence is no easy task. It takes skills, hard work, and most importantly, time. To keep your sanity and your marketing efforts on track, set realistic goals that are within your reach. If you’re new to social media, expecting 1,000 users to engage with your account in the first week is not practical. Make sure your goals are logical and don’t put your marketing team in panic mode. As the old saying goes, “Rome wasn’t built in a day”; neither was your company or your social media marketing strategy. Give your efforts time to work by making your objectives more realistic and easier to obtain.
There’s no point in having a marketing strategy if it doesn’t help grow your business. From your marketing methods to the platforms you choose to market with, you want to make sure everything is working to reach your goals efficiently. For example, if you’re using Facebook and Twitter as your social media marketing platforms, and you notice that Facebook is driving the most engagement by far; concentrate your efforts on that platform. Facebook is more relevant to your business and your target audience.
You want to maintain a good balance between the time you spend marketing and the results you receive. In order for your marketing strategy to be efficient, you must set a timeline for each technique, platform, etc. Each marketing initiative must have its own timeline. As with anything in business, you never want to spend more time than necessary on your marketing efforts.
S.M.A.R.T. goals are the best route to go if you want to have a clear understanding of your marketing strategy, including the methods and platforms you choose to use. If you’re still unsure how to implement these to grow your business, we’d be happy to help get you on the right track!