A Goal is a very important word I must say. Because if you have not planned or thought about it, you can't achieve it! Everything you invest in a business is for achieving your financial goals primarily.
But to achieve that end financial goal, you might need to plan for various other small or big goals to achieve your final end goal.
Every business must have certain goals to achieve and within a specific time frame.
What are your marketing goals? Have you decided what you wanna achieve and in how much time? Tell us in the comments.
Let's first understand what a goal should be, and what are the things we should consider while planning for any business goal.
So a GOAL should be SMART. Ever heard this? Okay, let me explain.
The SMART in SMART goals stands for Specific, Measurable, Achievable, Relevant, and Time-Bound.
By defining these parameters in relation to your goal, you can be sure that your goals can be attained in a set amount of time. With a defined timeframe and no generalizations, this method makes it simple to monitor progress and spot missed deadlines.
Moving on one by one, let's understand what each step means in detail.
S: Specific
In order for a goal to be effective, it needs to be specific. A specific goal answers questions like:
What needs to be accomplished?
Who’s responsible for it?
What steps need to be taken to achieve it?
Here’s an example of a specific goal you might come up with:
Invest in Google Search Ads & launch campaigns to start getting high-intent and highly relevant traffic to the website.
M: Measurable
While being specific is a good place to start, having your goals quantifiable (i.e., making sure they're measurable) will make it simpler to monitor your progress and determine when you've succeeded.
Here’s an example of a measurable goal you might come up with:
Invest $5000 Per Month In Paid Search. Expect A 2X ROAS with a 2% Conversion Rate.
A: Achievable
At this stage of the procedure, you should give yourself a sobering reality check. Realistic goals should be set rather than lofty ideals from which you will certainly fall. Consider this: Is your budget reasonably capable of achieving your goal?
Here’s an example of what shouldn't be your goal to make it impossible to achieve:
Invest $5000 Per Month In Paid Search. Expect A 10X ROAS with a 2% Conversion Rate.
If your business does not have brand awareness already & people don't know a thing about you or your business, or if your industry competition is too high, don't assume a heavy target of 10X ROAS with a low investment of $5000 in the above example.
R: Relevant
You need to consider the big picture at this point. Why have you chosen the objective you have chosen?
Here, in the above examples, we are talking about investing in Paid Search Ads, because through the research, you have found that the people you are looking for, search on Google about your product or service in a significant way and take serious actions to help you achieve your sales or leads figure you are expecting.
T: Time-bound
Time-related elements should be incorporated into SMART goals so that everyone is aware of how to stay on track within a given time limit.
Here’s an example of what shouldn't be your goal to make it impossible to achieve:
Invest $5000 Per Month In Paid Search. Expect A 2X ROAS with a 2% Conversion Rate, In Coming 6 Months.
Now Let's also understand the ultimate reason as to why we set any goal?
Build awareness?
Expand your customer base?
Re-engage cold prospects or past customers?
Generate a buzz around a new product?
Develop your strategy once you've chosen what you intend to accomplish with paid search as in the examples above.
Determine your target audience and the action you want them to take, then choose the kind of content that will help you accomplish those goals.
Don't be scared to try new things.
And accept the fact that some of your strategies will fail. However, this is what sets effective marketers apart from average ones: Successful marketers always utilize the lessons they've learned from mistakes to help them achieve greater outcomes.
We are here to help!
if you are facing problems deciding about your goals or marketing budgets for them or anything related to marketing and advertising, feel free to book your free online consultation with me.
I help businesses set realistic goals and budgets to be achieved in a specific time frame.