Back to Basics: How to set SMART objectives

Increasingly, marketers are expected to be the voice of the customer and the barometer of what’s reasonable. Defining what's reasonable comes into every marketing objective you design, by being specific, measurable, achievable, relevant, and timed – or, in other words, SMART.

The SMART acronym was first used in 1981 in an edition of Management Review attributed to George Doran Interestingly, the original 'A' stood for 'assignable', but as we consider these team efforts today, it has evolved to be 'achievable'.  

Elsewhere on the Content hub, we have explored some of the marketing fundamentals of creating a marketing plan and a social media campaign. But these big ideas are only possible if we have basic strategies in place that allow plans to be flexible to change because – sadly – no marketer always gets it right first time.

Because every business plan has a goal the company wants to reach, it’s the marketer’s job to break this into coherent objectives that can evaluate whether an activity has been successful or not. For example, a SMART objective could be:

Generate an extra £10,000 of revenue from a new product launch by the end of Q4.

In this article, we’ll use this example to take you through step by step exactly what makes a SMART objective, and why they’re so important.

What does SMART stand for?

A SMART objective is:

• Specific: A clear, quantifiable result (e.g. followers, revenue, signups). 
• Measurable: You have the tools necessary to measure it. 
• Achievable: The market and business performance support it. 
• Relevant: The business benefits and you can do it. 
• Timed: Also called 'timely' or 'time-bound'. Has a clear deadline. 
  
  

An example SMART objective 

Objective: Generate an extra £10,000 of revenue from a new product launch by the end of Q4.

How is this objective Specific?

Though it is a simple example, this objective is specific because it clearly defines what is to be achieved: generating £10,000 in revenue from a new product launch. The number is the important bit to make it specific.

Of course, on a far greater level, the specific nature of any objective must apply to the wider business. No objective is set in isolation from the long-term aims of the business, but instead must be an extension of the overall strategy of your organisation. This ties in with relevance.  

What would happen if it wasn't specific

Without specificity, you'd never know if you achieved it or not, and what to do differently or the same next time.

How is this objective Measurable?

If revenue isn't measurable in your company, you may have a problem. So, to make this objective measurable, we'll be looking for revenue.

But we've also said that it must be from a new product launch. In choosing an objective like this, you have to make sure your CMS or analytics systems are set up for accurate attribution of sales. Every sale of this new product must lead back to this objective, so make sure you're tracking everything correctly, as the best marketers do.

What would happen if it wasn't measurable

Without measurable objectives, you would struggle to prove your impact. You'd be fighting for attribution and credit in your end-of-year review, or worse, facing tough questions from your boss about why you spent your marketing budget on anything.

How is this objective Achievable?

Let's pretend this new product costs £100. We've then only got to sell 100 of them to make that £10,000 target, which feels pretty achievable. If the product costs £10, we've got a lot more work on our hands, but whether an objective is achievable is down to you, and your company's circumstances. 

If you've never made £8,000 from a product launch, it's unlikely you'll suddenly make £10,000 now. This number hasn't been plucked out of thin air. It must consider your previous targets, previous revenues and, perhaps most importantly, your budget.

Objectives must be SMART precisely because they take into account the company and market as it stands, not as we would like it to be.

Also note that while it's easy to be achievable, don't make it too easy for yourself either. Otherwise, your boss will think you aren't trying hard enough.

What would happen if it wasn't achievable

The clue's in the name  – you won't achieve it. Which is demotivating from start to finish, and it's an uphill battle all the way.

How is this objective Relevant?

Relevant here is meant to refer to being 'relevant to your team', but it's good to think of it as 'relevant to the business' too. Marketing doesn't make new products (though it definitely should have a say!), but it does launch them, so this objective being tied to a new product launch is what makes it relevant.

The business has invested time and resources into developing this new product, so naturally, they want to see revenue from the launch.  

You may have also seen the ‘R’ of SMART being taught as 'realistic'  – we even mention it in one of our course podcast clips. But in those cases, it's taken to mean 'realistic for your marketing team' – that you have the tools to succeed. In other words, relevant for you.

What would happen if it wasn't relevant

If it isn't relevant, you have to ask yourself: what's the point? If it doesn’t tie into team goals or business strategy, or if it’s outside your ability to deliver, then it’s probably not worth doing.

How is this objective Timed?

This final element of a SMART objective relates to something that we must all deal with: deadlines. If you have an essay due, you’ll have a date to hand it in by. If you have an objective to complete, you need a date to complete it by  – it really is that simple.

In the example we’ve used, it's time-bound as we need to increase revenue by an extra £10,000 before the end of Q4, which gives a specific timeframe. Without these deadlines, your objectives are not SMART, and your activity may not generate maximum impact.

Having these timelines also motivates you and provides structure to your overall plan. If you have to be finished by the end of the year, you know you need staged activities leading up to it.

It's also ‘timely’, based on the other definition: it's related to a new product launch, which is happening right now.

What would happen if it wasn't timed?

Without a deadline, you'd keep driving for that target forever, or rush to achieve it within days. Know when to stop, and when to drive activity.

What is a SMARTR objective?

Specific, Measurable, Achievable, Relevant, Timed, Recorded.

The second R is for Recorded

Sometimes you'll see SMART extended to SMARTR. This element, relatively easily achieved, is recording the objective when given to a team member or your boss. Get it in an email or written down in your performance management software. That way, everyone involved knows exactly what was agreed, making it easy to track progress, provide updates, and stay aligned on goals.

What would happen if it wasn't recorded

It might not be executed as intended – or at all. Memories are fallible, and if someone leaves the project or team before the objective is completed, no one can pick up where they left off.

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