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What are the steps to set SMART goals and KPIs for your small business marketing?

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If you want to grow your small business, you need a clear and effective marketing strategy. But how do you measure your progress and success? That's where SMART goals and KPIs come in. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. KPIs are Key Performance Indicators, which are metrics that track how well you are achieving your goals. In this article, you will learn how to set SMART goals and KPIs for your small business marketing in five simple steps.

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Melissa Fougere

Strategic Operations Expert | Community Builder & Networking Specialist | Turning Connections into Business Results |…
John Daddow - AI For Business

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1 Step 1: Define your marketing objectives

The first step is to identify what you want to achieve with your marketing efforts. What are your main challenges and opportunities? Who are your target customers and competitors? What are your unique selling points and value propositions? Your marketing objectives should align with your overall business vision and mission, and be realistic and attainable. For example, your marketing objective could be to increase brand awareness, generate more leads, or boost customer loyalty.

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Melissa Fougere

Strategic Operations Expert | Community Builder & Networking Specialist | Turning Connections into Business Results | Helping Small Businesses Scale with Efficient Systems & Smart Growth Strategies
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Create a hypothesis you are testing against. After a period of time determine: what worked, what didn’t, did we achieve the anticipated results? This will let you know whether to keep going or if it’s not worth your time.

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2 Step 2: Make your goals SMART

The next step is to turn your marketing objectives into SMART goals. This means making them specific, measurable, achievable, relevant, and time-bound. Specific goals are clear and precise, and answer the questions of who, what, when, where, why, and how. Measurable goals are quantifiable and trackable, and have indicators and targets to evaluate your performance. Achievable goals are realistic and feasible, and consider your resources and capabilities. Relevant goals are meaningful and impactful, and align with your marketing objectives and business strategy. Time-bound goals are timely and urgent, and have deadlines and milestones to keep you on track. For example, a SMART goal could be to increase website traffic by 25% in the next six months by using SEO and social media marketing.

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John Daddow - AI For Business

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These will give great clarity about how your campaign should be structured. Only then can you hope to garner real, tangible results for your business.

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3 Step 3: Choose your KPIs

The third step is to select your KPIs, which are the metrics that will help you measure your progress and success. Your KPIs should be relevant to your SMART goals, and reflect the outcomes and results you want to achieve. You should also choose KPIs that are easy to collect and analyze, and that provide actionable insights and feedback. For example, if your SMART goal is to increase website traffic, your KPIs could be the number of visitors, the bounce rate, the average session duration, and the conversion rate.

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4 Step 4: Track and monitor your KPIs

The fourth step is to track and monitor your KPIs regularly, and compare them with your targets and benchmarks. You can use tools like Google Analytics, Facebook Insights, or email marketing software to collect and visualize your data. You should also create reports and dashboards that summarize your key findings and trends, and share them with your team and stakeholders. Tracking and monitoring your KPIs will help you evaluate your performance, identify strengths and weaknesses, and spot opportunities and threats.

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5 Step 5: Review and adjust your goals and KPIs

The final step is to review and adjust your goals and KPIs based on your results and feedback. You should ask yourself questions like: Did you achieve your SMART goals? If not, why not? What worked well and what didn't? What can you improve or change? How can you celebrate your wins and learn from your failures? You should also consider any external factors or changes that may affect your marketing strategy, such as customer behavior, market trends, or competitor actions. Reviewing and adjusting your goals and KPIs will help you stay focused, flexible, and adaptable, and optimize your marketing strategy for growth.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the steps to set SMART goals and KPIs for your small business marketing?

1

2

3

4

5

6

1 Step 1: Define your marketing objectives

2 Step 2: Make your goals SMART

3 Step 3: Choose your KPIs

4 Step 4: Track and monitor your KPIs

5 Step 5: Review and adjust your goals and KPIs

6 Here’s what else to consider

Small Business

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What are the steps to set SMART goals and KPIs for your small business marketing?

1

2

3

4

5

6

1 Step 1: Define your marketing objectives

2 Step 2: Make your goals SMART

3 Step 3: Choose your KPIs

4 Step 4: Track and monitor your KPIs

5 Step 5: Review and adjust your goals and KPIs

6 Here’s what else to consider

Small Business

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