Asking the right questions can help spark the innovative ideas that so many businesses are hungry for these days.
The same goes for data analytics. No matter how much information you have or how advanced your tools are, your data won’t tell you much if you don’t start with the right questions.
Specific
A specific objective is circumscribed to a certain aspect, task or action of a company. In marketing, a specific goal could be, for example, to increase the monthly generation of MQLs (Marketing Qualified Leads) by 20% (from 600 to 720). This goal is specific because it tells us exactly what we hope to accomplish.
Measurable
To be measurable, a goal has to be specific. Otherwise, it is not possible to interpret whether the results are within the expected. In addition, it is necessary to have the means to be able to measure it
Achievable
By achievable we mean an objective that is perfectly achievable under the conditions that are available. For example, depending on the characteristics of the company and the market, trying to increase the monthly generation of MQLs by 75% could be too much. It is very important to set realistic goals, bearing in mind that based on their fulfillment, you can then aim higher.
Relevant
A relevant goal is one that is in line with the general objectives of the business. It makes no sense to consider actions whose results are not subsidiary to any of the general objectives that the company has in its development plan. In this sense, increasing the monthly generation of MQLs by 20% will be relevant to the extent that the company intends to increase its billing, and that a percentage of those MQLs can effectively translate into sales.
Time bound
That SMART objectives are temporary means that they are limited to a certain time. All the characteristics mentioned -their specificity and measurability, their scope and relevance- depend on the time in which they must be completed. The time allotted to an objective may make it unrealizable, or may make it difficult to measure. Therefore, when we set a goal of this type, we must always take into account the period.