Forum 4 REDO

S-M-A-R-T

Specific- are your objectives stated in a way that is precise about what you are hoping to achieve?

Measurable – Can you quantify each objective, i.e. can you use a unit of measure such as market share in percentage or dollars or other to provide a way to check your level of success?

Achievable- Are your objectives reasonable in terms of what you can actually achieve or are you setting your sights too high?

Realistic- Do you have objectives you have seet, if you don’t then they are likely to be unrealistic?

Time specific – When are you hoping to achieve these objectives, you need to define a timing plan with target timing for each specific objective?

Example:

A goal is a broad primary outcome

A strategy is the approach you take to achieve a goal

An objective is a measurable step you take to achieve a strategy

A tactic is a tool you use in pursuing an objective associated with a strategy

Goal: increase sales revenue by 25% by end of year

Objectives: Increase awareness of our website to TA by 100% by the end of the year

Increase traffic to website by 50%compared with last year.

Increase repeat purchases by 10% compared with last year

Increase average order value from 50% compared with last year

Example strategy: 1. engage TA at key touch points in their day when receptive to brand messaging 2. Drive traffic from new unique visitors to your website 3. encourage repeat purchases form existing customers 4. Increase average order value from within the cart
Example tactics: 1. Run TV ads targeted at TA in the middle of the day 2. Run Facebook Advertising at lunchtimes based around similar interests 3. Acquire coverage in national magazines targeted at TA using PR 4. Run Online banner ad on XYZ sites targeted at TA in the evenings