Did you make any New Year Resolutions or does the fact that you may never follow through leave you a little demoralised?
New Year's resolutions have the potential to be very powerful because you are not alone in making them and whether you call it a resolution or a goal; the important thing is to make it and commit to it.
So let’s have a look at how to set your goal, track it and importantly how to measure its success (or otherwise) - what’s your take on this?”
Specific Goal: goal should be specific having the realistic deadlines. Setting the goal “More number of customers” is not specific. It should be specific in the number such as “how many customers?”
Measurable goal: Goal should be measurable so that you can track your progress to check how close you are to meeting the goal.
Attainable Goal: Goal should be attainable which may be challenging but not impossible.
Realistic Goal: While setting your goal, you should take care of your personal and other required resources and always set a realistic goal.
Time bound: The goal should be time bound. It should be predefined ‘when and how to start working’ for the targeted goal and how much time you have to achieve that goal.
Tracking your goal frequently:
Just setting a goal is not enough; you have to work hard to achieve that goal. Also there is a need to track your progress towards the goal frequently, reviewing your marketing strategies quarterly rather than yearly to ascertain reaching that goal. If you find yourself diverting from your goal then you should check the hurdles along the way with strategies to combat those hurdles and find a solution to achieve the goal and update strategies as required.
How to measure ROI (Return on Investment) There is a great need to measure your Return on Investment (ROI) frequently. You have spent a lot of money/time/effort on your marketing activities and if you get less or not much in return then there is no benefit to delivering your marketing activities and it is money not well spent. Here are some points, which can help you in deciding how to measure your ROI –
- Set goals for your social media marketing and then check ROI against the cost including: advertisement cost, personnel cost, time spent, Social Media, SEO, etc.
- You can check likes, views and comments on your ads, clients’ acquisition, etc.
- You can also go for Google analytics reports to measure ROI against social media marketing and SEO/SEM.
Conclusion Tracking the goal is as important as setting a SMART goal. If you fail in tracking your progress towards the goal and updating strategies accordingly then achieving this goal will be more difficult or impossible to measure or achieve. Measuring your ROI plays a very important role in measuring goals, success of your marketing campaigns, Social Media marketing, SEO and SEM.
For more on ROI and tracking your goals, contact us via the contact form on our website or directly at firstname.lastname@example.org
How do you measure your ROI? Please share…