Blog | Analytics

Why defining smart goals is essential for international reporting

October 29, 2018
Reading Time: 3 minutes

BFO SMART Goals

One of the major challenges for multinational organizations and businesses with large, regional marketing departments is achieving operational unison and end-to-end visibility of marketing activities.

For some of these businesses, marketing and sales teams operate in isolation, often conducting their own campaigns and initiatives rather than working together, each with their own separate agenda.

The problem with such an approach is that both marketing and sales end up with their own interpretation of what constitutes “good” and rather than pursuing overall business goals, they end up pursuing departmental success.

To achieve any kind of marketing and sales success, before even conducting any kind of international marketing or sales activity, or even deciding on the key performance indicators (KPIs) to track, analyze and measure, your business needs to define smart goals to work towards so that marketing and sales activities are working together.

First, start by thinking about what your business’ marketing and sales goals are. What do you want to achieve? How do you want to achieve it? And when do you want to achieve your goals by?

By considering these simple questions, rather than creating broad goals you approach them with forensic accuracy and start to think strategically and realistically about what your marketing and sales teams can achieve, defining smart goals.

These goals are, in effect, SMART goals. Specific, Measurable, Attainable, Relevant and Timely.

Specific: Is everyone in your business aware of precisely what you want to achieve, what’s expected of everyone, how it’s going to happen, and why it’s important?

Measurable: Do you have concrete criteria for measuring progress and reaching your goal?

Attainable: Is the goal realistic and feasible?

Relevant: Is the goal relevant to your business’ overall agenda?

Timely: Can you allocate an expected date for when you will reach the goal?

By using SMART framework to establish marketing and sales goals, you can quickly measure any activities in future against them and see if you are on track.

Having defined your SMART goals, you then need to agree on key performance indicators (KPIs) to measure the success and effectiveness of specific marketing and/or sales activities.

What are key performance indicators?

A Key Performance Indicator is a type of ‘performance measurement’ and is primarily a way for your organisation or business to measure the success and effectiveness of a particular activity it has conducted.

KPIs provide your business’ activities with context by allowing you to clearly visualise and interpret progress in relation to a particular milestone. Before even beginning your marketing activities, it’s crucial to ensure that everyone in your business comes together to agree on what performance indicators matter to the business. Examples include (but are not limited to):

  • Traffic
  • Leads
  • Reach
  • Website views
  • Blog views
  • Social network engagement
  • Direct traffic, organic traffic, and activity
  • Referrals
  • Email engagement
  • Leads generated
  • Click-throughs, conversions, and conversion rates
  • Social media follows
  • Content shares

Of course, there are other metrics you can track, some of which may be unique to your business or industry. However, the most important thing is that you have this discussion sooner rather than later so that KPI measurement is easy and straightforward.

Once you have established your KPI measurement criteria, as well as decided unanimously on a goal you want to achieve, you can begin your marketing activities.

The success of your marketing and sales campaigns rest on the goals you set and whether or not your KPI measurement is consistent. After all, without goals, you have nothing to compare your marketing and sales activity against.

At BFO, we provide international reporting and analytics for businesses of every size across the globe. Our team of digital analysts can help you to clearly understand the ROI of your marketing and sales activity across departments, websites and regions. Our team leverages the latest analytics tools – including Google Analytics 360 Suite and site audits featuring proprietary technology – to identify the most relevant KPIs, overall performance and extract insights.

If you want to find out more, please click here.

COMPLETE THE FORM BELOW SO WE CAN CHAT ABOUT YOUR GOALS AND HOW WE MIGHT HELP.

COMPLETE THE FORM BELOW SO WE CAN CHAT ABOUT YOUR GOALS AND HOW WE MIGHT HELP.