“10 SMART Goals in Marketing
Goal setting is a common practice in marketing. It is important to set goals in the marketing strategy plan so that the marketing practices are aligned with the overall goals of the business. SMART Goals are Specific, Measurable, Attainable, Relevant, and Time-Bound. These goals are applicable in business as well as for yourself. In this assignment, you will combine these purposes. You are a future entrepreneur. You have a new product or service that you have created, and you are getting ready to launch your new brand. While putting together your marketing strategy plan, you should consider some of the important goals in marketing.
Read this article to understand “10 SMART Goals in Marketing (and Why They Are Important)”. 10 SMART Goals in Marketing (and Why They’re Important) | Indeed.com
Watch this video to better understand how to set SMART goals for digital marketing. How To Set Goals For Digital Marketing That You Can Actually Reach
Using what you have learned, use the following questions to guide your writing:
Describe the name of your brand and the product and/or service that will launch your business.
Provide a SMART goal that you will need to meet to launch your product and explain the reasoning for these goals.
Why is this goal relevant to your business and how would you attain it?
Please explain why it is important to be SMART when setting goals for your business?
Sample Solution
I am an aspiring entrepreneur with a product or service that I have created to launch my business. My brand is called “Verdant”, which is the Latin word for green and represents sustainability and eco-friendly practices. Verdant offers an array of environmentally friendly products, from biodegradable straws to reusable water bottles, as well as digital services such as web design and SEO optimization.
To ensure success in launching Verdant, I will need to set SMART goals that are specific, measurable, attainable, relevant and time-bound. One example of such a goal would be: “Increase website visits by 30% over the next 3 months”. This goal provides clear direction by setting expectations on what needs to be achieved (number of website visits) and when it needs to be done (3 months). In addition this also gives me measurable results so I can track my progress throughout thus allowing me to make adjustments if needed plus even allowing comparisons versus past performance too (Indeed 2021).
Moreover, having measurable objectives also assists during the planning stages since it allows me decide on how resources should be allocated in order achieve desired outcomes while remaining within budget constraints plus helping establish realistic deadlines towards completion too (Indeed 2021). Furthermore by utilizing techniques such as A/B testing this will further allow me better understand customer preferences thus helping fine tune content based upon user feedback too – all these factors providing more insight into potential areas for growth in the future.
All in all, SMART goals are important for any successful marketing strategy plan because they provide direction, focus attention on key objectives while simultaneously giving room for experimentation along with analysis once completed. Therefore, through continuingly employing SMART goals like increasing website visits by 30% over three months along with other tactics means that I should be able reach my desired outcome – launching my business successfully.
