People who are in management know the value of setting goals. They are an important part of motivating employees. It is also an important part of establishing a work environment where employees can succeed. Many managers utilize the 10/90 rule when it comes to SMART goal setting. This rule states the initial 10 percent of time they spend making certain employees understand what has to be done will save them 90 percent of additional time once the pursuit of goals begins. It is believed this can help managers avoid 90 percent of the possible costs, mistakes and unproductive time that can occur.

SMART

In order for a company to achieve successful marketing objectives, a mnemonic device is often utilized called SMART. It states that goals and objectives must be Specific, Measurable, Achievable, Realistic as well as Timed (SMART).

Specific

When employees are given broad objective, it can lead to confusion concerning what is expected of them. Giving goals such as just do better at selling a product may not produce the best results. This approach is a waste of time, effort and energy. When this is done, it delays informing an employee exactly what action needs to be taken.

Marketing a product will require separate plans. Developing a product requires one plan. Creating awareness of that product will require another plan. When this is done correctly, the key steps involved in successfully marketing a product are easily followed. When more specific about expectations at the beginning of product development, the more successful the process.

Measurable

The marketing objectives guide says that making a general statement that only references a desire to do better than a previous marketing campaign can cause misunderstandings. Employees need goals that can be defined in financial terms or with numbers. When a goal is easy to understand, the easier it will be for employees to concentrate and focus on producing the desired result.

It is beneficial to set metrics that are trackable and specific. This could involve such things as an increased response to Email Marketing by 10 percent. It could also involve an increase in sales revenue, units sold and more. A marketing plan that is measurable significantly increases the chances for success.

Achievable

This is essential since setting unachievable goals will damage employee morale. Doing this is setting up employees to experience failure. This will require looking at past performance to know what is possible. Achievable goals are then able to be set. Setting numbers within what is achievable will significantly increase chances of achieving the goal.

When goals are smaller, it means a team will be able to continue experiencing success during each step of the process. This will build employee confidence for current marketing plans as well as those they will handle in the future.

Realistic

This is part of making objectives achievable. This will require knowing the skills and abilities of employees as well as resources available to achieve a marketing objective. Knowing if there are the right number of employees to handle the workload as well as having the correct tools is essential. The correct training, as well as the proper contacts, will make it possible to set realistic goals. Setting realistic goals will require a manager to be honest about the tools they have available to them.

Timed

In order for a marketing plan to be successful, it will need to have a well-defined time limit. If this isn't done, the project could result in an idea people only think about when they have time for it. Managers must identify a specific starting and end date. During this time, it is important to set dates to check the progress of the project. This means a manager can make adjustments and adapt to any set of circumstances that may happen.

Conclusion

When managers effectively use the SMART process to achieve goals, their chances of success increase. When goals are achieved, it may be time to provide rewards to the employees who made things happen. The SMART process can be used in many different business situations.