Principles of Setting Marketing Goals Using the SMART System
Posted: Wed Jan 22, 2025 8:10 am
Well-developed marketing goals of a company in most cases correspond to such methodological requirements as specificity, measurability, achievability, relevance and time-bound:
The specificity of marketing objectives facilitates narrowly focused activities for their implementation. If a very broad goal is set, employees may become confused due to the large number of options for action. This situation often leads to overspending of resources. It is necessary to plan specific indicators that must be achieved. For example, “Increase last year’s turnover by 20%” looks like a clearer goal than “Increase sales”.
Measurability of marketing settings implies their binding to certain indicators. This approach allows for precise measurement of achievements or failures. There are categories of goals that can be defined in different ways. In this regard, already at the stage of forming marketing priorities, it is necessary to decide how the result will be measured.
Achievability of goals allows rcs database you to accurately calculate the volumes of necessary resources and the time of specialists. "Get a million subscribers to a social network in a month" is not quite a realistic goal. The criterion of achievability is present in the following formulation: "Ensure an increase in subscribers of the social group by 20% over the next quarter."
Tying marketing goals to specific time frames allows you to focus your efforts on achieving them. The goal of “Increase the company’s profit by 20%” does not look specific enough if the deadline for its implementation is not specified. Over what period does your company want to achieve such results?
Principles of Setting Marketing Goals
The relevance of the set marketing goals is an important condition for the success of any business. This allows you to specify the company's marketing strategy. When forming marketing goals, you need to make sure that they will contribute to the implementation of long-term business goals. For a company that seeks to increase customer retention rates, the current priority of the customer support department may be finding and hiring an additional 3 specialists over the next two months.
The specificity of marketing objectives facilitates narrowly focused activities for their implementation. If a very broad goal is set, employees may become confused due to the large number of options for action. This situation often leads to overspending of resources. It is necessary to plan specific indicators that must be achieved. For example, “Increase last year’s turnover by 20%” looks like a clearer goal than “Increase sales”.
Measurability of marketing settings implies their binding to certain indicators. This approach allows for precise measurement of achievements or failures. There are categories of goals that can be defined in different ways. In this regard, already at the stage of forming marketing priorities, it is necessary to decide how the result will be measured.
Achievability of goals allows rcs database you to accurately calculate the volumes of necessary resources and the time of specialists. "Get a million subscribers to a social network in a month" is not quite a realistic goal. The criterion of achievability is present in the following formulation: "Ensure an increase in subscribers of the social group by 20% over the next quarter."
Tying marketing goals to specific time frames allows you to focus your efforts on achieving them. The goal of “Increase the company’s profit by 20%” does not look specific enough if the deadline for its implementation is not specified. Over what period does your company want to achieve such results?
Principles of Setting Marketing Goals
The relevance of the set marketing goals is an important condition for the success of any business. This allows you to specify the company's marketing strategy. When forming marketing goals, you need to make sure that they will contribute to the implementation of long-term business goals. For a company that seeks to increase customer retention rates, the current priority of the customer support department may be finding and hiring an additional 3 specialists over the next two months.