How to define SMART marketing objectives

From SMART to SMARTER marketing objectives

When identifying specific marketing objectives to support your long-term goals, it is common practice to apply the widely used SMART mnemonic. You will know that SMART is used to assess the suitability of objectives set to drive different strategies or the improvement of the full range of business processes.

One of the main reasons that we called our site and service SMART Insights is because we wanted to help marketers succeed through using a more structured approach to planning to give more realistic targets they could be more confident of achieving. Using SMART objectives and then measuring them through properly customised analytics reports is a big part of how we hope to help too.

With SMART objectives documented in Plans linking objectives to strategies and KPIs everyone is sure exactly what the target is, progress towards it can be quickly and regularly reviewed, for example through an Ecommerce dashboard and, if necessary, action can be taken to put the plan back on target.

How can SMART objectives help set realistic targets?

When setting future objectives for marketing such as in a marketing plan it’s useful to look hard at each measure and ask “is it essential?”. The SMART mnemonic helps as a test or filter which you can use to assess the quality of measures. My personal definition of SMART is:

• Specific – Can the detail in the information sufficient to pinpoint problems or opportunities? Is the objective sufficiently detailed to measure real-world problems and opportunities?


• Measurable – Can a quantitative or qualitative attribute be applied to create a metric?


• Actionable – Can the information be used to improve performance? If the objective doesn’t change behaviour in staff to help them improve performance, there is little point in it!


• Relevant – Can the information be applied to the specific problem faced by the marketer?


• Time-related – Can the information be viewed through time to identify trends?

Of course different people interpret define SMART differently and you can refer to the Wikipedia definition of SMART marketing objectives.

Examples of SMART objectives

Here are some typical examples of SMART objectives, including those to support objective setting in customer acquisition, conversion and retention categories for digital marketing:

• Digital channel contribution objective. Achieve 10% online revenue contribution within two years.


• Acquisition objective. Acquire 50,000 new online customers this financial year at an average cost per acquisition (CPA) of £30 with an average profitability of £5.


• Conversion objective. Increase the average order value of online sales to £42 per customer.


• Engagement objective. Increase active customers purchasing at least once a quarter to 300,000 in a market (a hurdle rate metric)

Mistakes in setting objectives

It’s worth guarding against the mistake I sometimes see with student assignments where, rather than listing objective examples like those above, the student will create separate objectives under a heading of each of SMART - this doesn’t work… Better is to group objectives in a logical way, sometimes separating out overall business and marketing objectives and digital marketing objectives.

Another mistake to avoid is a big long list of objectives - yes I have seen a whole page of bullets with no structure... Instead group them logically in a way you would present them to colleagues. We recommend structuring them based on the RACE framework as show in this table aligning objectives to strategies and KPIs

The Ten Measures Design Tests

You can add to your tests of choosing the right objectives using these 10 measure design tests developed by performance management specialist Professor Andy Neely. For SMARTER metrics, ask these questions for your KPIs as you develop them.

• 1. The truth test. Are we really measuring what we set out to measure?


• 2. The focus test. Are we only measuring what we set out to measure?


• 3. The relevancy test. Is it the right measure of the performance measure we want to track?


• 4. The consistency test. Will the data always be collected in the same way whoever measures it?


• 5. The access test. Is it easy to locate and capture the data needed to make the measurement?


• 6. The clarity test. Is any ambiguity possible in interpreting the results?


• 7. The so-what test. Can and will the data be acted upon, i.e. is it actionable?


• 8. The timeliness test. Can the data be accessed rapidly and frequently enough for action?


• 9. The cost test. Is the measure worth the cost of measurement?


• 10. The gaming test. Is the measure likely to encourage undesirable or inappropriate behaviours?

These tests show there are additional filters on top of SMART are useful to choose the best measure, I particularly like the "So-what test, another way of explaining relevance and Gaming - a common issue with target setting that isn’t considered by SMART!

Alternative SMART objectives definitions

Finally, some have developed the SMARTER objectives definition that show the need to re-examine the relevance of SMART objectives through time:

This definition certainly shows the many alternative SMART objectives definitions - you may want to compare against these!

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Using social media marketing in B2B markets

Digital Marketing Trends 2015

Creating content the C-Suite truly values

Rethink your content strategy for engaging Senior Decision-makers

There are many frameworks and strategies that we can use to create content that educates, engages and spreads our message. For example, the Smart Insights Content Marketing Matrix helps review which content is effective in different parts of the marketing funnel. When it comes to tailoring content for our buyer personas it’s an obvious process; build content that solves a problem.

There’s another side to this though. If you’re trying to engage the C-Suite, or any senior decision maker for that matter, then the typical method of content marketing may not work. This is because they operate on a different level than your typical prospect.

There are a few reasons that you may want to target the C-Suite:

• 1. Enterprise sales; or any type of sales opportunities worth 6 to 7 figures.


• 2. Business development opportunities; connecting and partnering with complimentary organisations that would really move the needle.


• 3. Thought leadership; spread your content and authority to senior decision makers who can spread it through their network.

Whatever your goals are, the framework and methodology is the same, and you can build your content around this methodology in order to achieve these goals. This same methodology has connected companies with senior decision makers and generated 7 figure sales pipeline, often in as little as 8 weeks.

Even if you class yourself as a small business, this still applies to you. Despite your offering, there are still solutions you can offer to large organisations. Problems are always waiting to be solved.

Content engagement methodology

The methodology consists of two key components. We’ll cover these two components and then share an example of how one company has used them and the results they yielded.

• 
  

  Trust

  
  

Before we talk about the nuts and bolts of content that resonates with the C-Suite, you need to know how these senior decision makers operate. Typically, the C-Suite spends only 2% of their time each week with vendors, which is less than an hour.

There’s a lot of noise to cut through, so how do we get their attention? First, understand that these CxOs aren’t interested in pleasantries or what you and your company is about. They want to know what you can bring to them and their organisations.

When it comes to sales & marketing, most people start with what they do, moving into the benefits, making a business case and THEN they attempt to build trust. Marketing to the C-Suite works the other way around.

You need to spend the time to build the trust first. If you come in with an obvious seller stance their guard will be up and your message will be left unheard. You need to take your brand out of the spotlight and come from an independent stance.

Independence comes in two forms:

• 1. Third party endorsements; from your clients, partners and other advocates.


• 2. An independent brand; we do this in the form of an independent club that focuses on a specific challenge. There are other ways to do this, and we’ll cover these soon.

Endorsements typically come in the form of testimonials and case studies, but there’s a much more effective method to this as you’ll soon see.

It often gets lonely at the top, and because of this the C-Suite rarely find themselves challenged on the things that matter most, that being at a strategic level.

What they truly value is, being tested and because they’re surrounded by those who report to them on a day-to-day basis, their views are rarely challenged. It’s because of this that a face-to-face element in your C-Suite content delivery is important.

• 
  

  Value

  
  

Real credibility is established by being truly valuable to the C-Suite. They operate at a very strategic level, and are typically uninterested in your product or service.

Instead, they want insight, statistics and cold hard facts. There needs to be a logical argument to change, and this happens further up the buyer cycle.

You can use how-to guides in order to do this, but it’s much more effectively used as a complement to the independent entity we’ll be showing you how to create. Value in the C-Suite marketing world is much more than digital content.

It also means being different, and bringing something new to the table. Can you challenge the way they’re currently doing things? Can you bring a new point of view into their world?

We do this by taking challenging topics and aligning them with what the market is already talking about. Backed up with facts from credible sources, this is a very powerful technique.

• 
  

  Independence

  
  

Everything we’ve talked about so far has revolved around the idea of independence. As I said, it’s difficult to engage with C-Suite executives while coming from the stance of a seller. So how do we get their attention?

Our C-Suite Marketing methodology does this by way of creating an independent ‘club’, focusing the content around a pressing topic that the market is talking about and aligning it with the value proposition of our clients.

Let’s get clearer on this with an example. We recently built the Digital Resolution Club for our client Ixonos, who are a creative technology agency. They used this to position their message in the eyes of their target senior decision makers as something truly valuable, something that would help overcome their challenges.

The content was revolved around digital monetisation and the rise of second screens – a topic very close to the hearts of their target audience, being media companies. Again, this wasn’t a topic that we thought was pressing, or even a topic Ixonos themselves wanted to cover. It’s what the market is talking about, right now.

Value was delivered in an intimate, face-to-face setting with 14 senior decision makers. The low numbers are deliberate in order to ensure strong relationships were built.

The attendees included C-Suite execs from Hearst Magazines, Mail Online, BBC, The Economist as well as Metro UK and The Guardian. These were opportunities that Ixonos wouldn’t otherwise have thanks to the independent positioning and the clever alignment of a pressing topic with their value proposition.

Summary on engaging with your C-Suites

As you can see, this is not content marketing in the way we currently know it, but it is an innovative approach that merges digital and face-to-face channels in order build relationships based on intimacy.

Blending digital and face-to-face channels is how you build these relationships faster. It builds trust first and then works backwards to present a business case. Then, and only then, do you present the benefits of your solution and what it actually is.

Brands like Ixonos, as mentioned above, as well as NetSuite and SAS are using this same technique with great efficiency. Businesses of all sizes can benefit as long as you put the focus on the pressing challenges that your target market are trying to overcome.

We’ve given you our method of building an independent club brand, but the options are open to your creativity. How would you take this methodology and apply it to your own business?

Thanks to Tom Whatley for sharing his advice and opinions in this post. Tom is Growth Marketer at Seraph Science You can follow him on Twitter or connect on LinkedIn.

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Digital marketing statistics 2015

The State of Search Marketing [Infographic]

An overview of the current use of Search Marketing

SEMPO’s 9th annual report in 2014 highlighted the client and agency views on search strategy marketing. It’s helpful for Digital Marketers planning their next strategies, looking for valuable insight into tactical steps and how ‘the evolving role of search marketing is an integrated element of the marketing mix’.

The infographic highlights:

• 90% of companies adopt an experimental approach, except with social media.


• 9 out of 10 respondents focus on SEO and 78% on paid search.


• Measuring ROI from social media still remains a challenge.

Additional Resources on Search Marketing best practice available on Smart Insights include:

• SEO 7 Steps Guide and online course


• How Search Marketing is managed [Infographic]


• Paid Search 7 Steps guide and online course


• KPIs for measuring content marketing ROI

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What’s New in Marketing – November 2014