When planning a marketing campaign for your startup, one of the most important things to do is to define the objectives precisely. One of the most popular ways to do this is by using the SMART method, first introduced in the early 1980s. SMART is an acronym which stands for “Specific, Measurable, Acceptable, Realistic and Time-Related”.
These are the qualities of an easy objective to evaluate. The SMART method can be effectively monitored, because the essential variables of a marketing campaign and the desired results are clearly stated.
A short objective, precise and explicit is specific. Indeed, it should be limited to a restricted framework and be understood by all with ease. For example, if you want to increase your conversion rate by 20%, it is too vague because it does not indicate the current rate. Instead, say you want to get your average conversion rate of 50 up to 60 per month.
A measurable objective should contain measurable indicators, concrete and verifiable. It is also necessary that there is only one criterion of objective measurement, otherwise it may be too complex and should be broken down into several objectives to be measurable. In the previous example, you want the monthly conversion rate from 50 to 60. Your goal is concrete and measurable.
It goes without saying that an objective also needs to be achievable. This should stand as a challenge to be motivating, but remain reachable. Therefore, if you decide to get the conversion rate of 50 up to 100 percent, it would probably be excessive and discouraging. Moreover, people would get completely discouraged from the very start since they would see that goal as something they will never be able to achieve.
Which brings us to the next letter. Namely, besides being attainable, your objective should be tailored to your business needs. Therefore, if there is already good traffic coming to your site, increasing the conversion rate would be a perfectly realistic objective. However, if you hoped to diversify your offer when you are already struggling to attract enough visitors, you may be skipping steps and being unrealistic.
Finally, a clear objective must include a period. You must therefore set the start and end dates for your campaign, as well as intermediate dates, if possible, to measure your progress. So you can try to increase your monthly conversion rate in three months, six months or one year, whichever seems the most likely.
Put all of these together and you get SMART, which these criteria definitely are as a combination. The best thing is that you do not have to limit these to your individual marketing campaigns or even your marketing plan. Instead, you can use the SMART Principle to guide your entire corporate vision.
Aashish Sharma is a Blogger, specializing in Social Media, Latest Technology News and Digital Marketing. He is always hunting for new ways for companies to engage with people using innovative technology, insightful data, and intelligent marketing which helps local businesses.