Smart marketing is innovative: smart stands for S for Specific, M for Measurable, A for achievable, R for realistic and T for timely. So now, when doing marketing, you must follow these rules. All your objectives and goals should follow this pattern.
This is called smart marketing because, with help, marketers can succeed in their business with a structured approach to marketing strategies and goals. Let us see all these elements in depth to understand Smart Marketing.
S for Specific (Smart Marketing)
There should be specifications in your marketing plans on what you are going to achieve before you start working on your marketing strategy. For example, you want to increase your brand awareness, or you are losing your clients or customers, increasing the retention rate, or boosting your sales to double, etc.
You need to have a specific set of goals to achieve whatever goals you have since different categories require different approaches. Let us put an example so it will be easier for you to understand.
Suppose you want to increase your sale by 5% by the end of this year. Then you need to launch around 500-600 products this year or 100 products every two months. Now, this is just an example. We hope you got the tactic behind specific outcomes.
M for Measurable
Your specific objectives should turn into measurable results and milestones you can track. This is how you can get a clear image of your work progress. One of the simple ways to see how far you have come is by using online tools like free hashtag tracking tools, Google analytics or Campaign URLs.
You can get visual reports of your marketing progress. First, decide how many times you want the information in a year or month and then constantly update your team. It is acceptable if your strategies are working out; if they are not, you need to revive them and try different approaches. Or find out where you are making the mistakes in your strategies and fix them or change them completely.
A for Achievable
You can stay motivated and work hard on the journey when you set specific goals. As a result, achieving them will be easier for you and your team. And if your team is struggling, then the plans are not set correctly, or your members don’t understand the strategy.
In every team meeting, explain all the plans and have a Q&A session with them so you can answer all their questions and doubts. Listen out for their ideas too. People come up with great plans.
R for Realistic
Once you have set the goals, you can prove they are achievable based on your expectations of facts. Be realistic. Explain what your current business climate is like or intricate on why you believe the demand for your business will grow. Data analysis will help you back up your beliefs and ensure that the data is understandable.
T for Timely (Smart Marketing)
Now that everything is set in its place. Make sure you set deadlines. It plays a crucial role in the well-thought-out plan. The most difficult objectives can be achieved if they are broken down into parts with deadlines.
Objectives and Goals of Smart Marketing
Smart marketing is all about project management. When you understand what smart abbreviations stand for, you can know how to frame your goals. For example, instead of making plans like generating revenue for a whole year, cut down the profit by 5-10%, following up with more measurable metrics.
Saving on your cost currents is not an option right now, and sales should be responsible for generating income. Now this way, your team will consider increasing income through sales as the only option here. And also, you can boost your sales by creating innovative customers or employee incentives.
With this plan, you are making your customers think what you offer is worth their attention-worthy. In addition, you are making a profit when you plan to make more extensive sales in a timeframe.