WHAT ARE SMART OBJECTIVES AND HOW TO IMPLEMENT THEM
Every marketing project must have objectives, right? However, we understand that these are not always easy to create, measure, and track.
When we define goals and key performance indicators (KPIs) for a business or personal situation, we need to make sure we really create worthwhile goals. Goals, objectives, and KPIs are tools. They have a specific use. Like any tool, they must be designed and used with intent.
A best practice when defining goals and KPIs is to use SMART criteria.
In this article, I’ll define the SMART criteria and offer guidelines for you to set your own SMART goals.
WHAT ARE SMART GOALS?
SMART objectives are those that define goals and KPIs in a precise and easy-to-communicate way. The abbreviation SMART, which was first described in 1981 by author George T. Doran and later expanded by Professor Robert S. Ruben, means:
- Specific
- Measurable
- Achievable
- Realistic
- Time-bound.
The SMART method claims that setting clear, achievable, and strategic goals is the most effective way to create concrete goals and metrics. Instead of an overarching goal, such as “increase sales,” we can set a SMART goal, such as “4% increase year-on-year sales of Premium subscriptions in California in February.”
SMART goals are the concrete steps in a well-crafted strategy to achieve larger goals.
SPECIFIC
Specific objectives answer questions such as the what, when, where or why of a certain action.
When creating a SMART goal, try to answer these types of questions:
What are the concrete steps of our plan?
Where will our efforts be focused?
Why is this aim important to our long-term strategy?
How do we rank this goal over the others?
Measurable
Future analysis is carried out through measurement, thus, it is important to have criteria and quantitative metrics that serve as the basis for measuring its effectiveness.
When creating a SMART goal, try to answer these types of questions:
What data do we need?
Is the data reliable and verifiable?
What can be reasonable intermediate goals?
How much is enough and how much is not?
How will we know if we have reached the goal?
Achievable
It is important to analyze the ultimate objectives and plan goals that conform to realistic capabilities.
When creating a SMART goal, try to answer these types of questions:
What are the steps required to achieve this goal?
How much direct control do we have over meeting this goal?
Is this a realistic goal, considering our past performance?
What is the precedent?
Why do we assume this goal is achievable?
What external (and internal) factors could prevent us from achieving this goal?
Realistic
It is always better to be grounded and be aware of the reality of the business. This involves both the internal and external environment.
When creating a SMART goal, try to answer these types of questions:
Why do we set this goal now?
Why didn’t we do it before?
Who are the right people to work towards this goal?
How will this goal contribute to a long-term strategy?
What is the expected return on investment (ROI)?
What if we cannot achieve this goal?
Time-bound
Establishing a beginning and ending period serves not only to monitor but also to track the tasks that derive from this aim.
It is important not to overdo it and not to rush its completion.
When creating a SMART goal, try to answer these types of questions:
What is the longest and shortest time frame possible to achieve this goal?
What obstacles or temporary factors could delay progress?
What goals have you achieved in similar time frames?
When and how will you check progress?
HOW TO SET SMART GOALS?
Once you recognize the meaning of the use of these objectives for your company, you will need to consider the following aspects to determine them:
- Clear definition of the business, the area, and the team. You will have a context of what to demand and what the reality of each part is to, likewise, give an achievable goal.
- Work with calendars or periods. It is useless to define objectives if they will remain pending forever. According to your annual aim, establish several quarterly (or a period that you consider convenient) to achieve the general aim of the year.
- Know the metrics with which they work in each area. So you can quantify and associate your goal with a number.
Recommendations: How to develop your own SMART goals
- Define goals that reflect your particular needs.
The effectiveness of SMART goals depends entirely on the KPIs you define. - The purpose of the SMART model is to allow you to communicate exactly where you are and what your current performance is. Once all the members of the company understand the objectives and know the criteria to follow, they can work as a team towards success.
- Define the best path with care and set intermediate goals.
I recommend you plan the order of operations and achievements that will help you achieve your long-term goals. - Remember that the SMART model does not apply only to the objectives of large companies or teams.
You can use the SMART model outside of the business context. You can apply this knowledge to New Year's resolutions, health goals, job hunting, a home improvement project, or any other activity.
CONCLUSION
Determining SMART objectives will help you make much more rational use of your company’s resources.
Also, you will achieve a highly directed approach, a well-segmented delegation of tasks, and clarity in the development of work towards these objectives, so that all this will end in better results for your business.
