Without setting objectives, you cannot measure the effects of social media marketing. In this video, learn how to make your objectives SMART.
- [Narrator] In this session, we're going to be talking about setting SMART objectives. SMART is a simple acronym used to set good solid objectives. It stands for Specific, Measurable, Achievable, Relevant and Time Related. Objectives provide us with the ability to track and measure success, which is what this course is all about. Objectives translate the business strategy into plans and actions. To sell more widgets is not a smart objective. To sell 10% more widgets in the next six months by running an advertising campaign on Facebook, now that's smart.
Let's talk this through just a little more. Specific, the specific part of objective setting needs to answer the questions what, why, who and where. What do we want to achieve? What's the purpose of doing so? Who is involved, and where can we make this happen? Measurement, of course we need to include measurables. We need to include some numbers, whether that's percentage increase, fixed numbers, or financial values, we've got to put some figures against our activities.
And they need to be achievable. The objectives will need to be realistic and within reach, not too easy to achieve, but realistic alongside the other activities we have going on within the business, available resources, et cetera. And relevant, everything we do in marketing has to be relevant to our business strategy and for our target audience. Will it work and is it of interest to anyone are the key points to consider here. And finally, time. We need to set a time frame for the objective.
It can be short term or long term, but we need to have a date to work towards and to measure against. Once we have translated our business strategy into objectives, we can decide upon relevant tactics. For social media, that could be about an event, and measurement would be event attendance. It could also be about content. It could be that we are asking people to visit our website and download a white paper, or it could be about lead generation. For example, collected through a Twitter advertising or LinkedIn sponsored content campaign.
What does your business need to measure and have you made your objectives SMART?
- Linking business strategy and social media
- Looking at the challenges of calculating ROI
- Determining the cost of social media
- Defining ROI
- Calculating social media marketing ROI
- Determining the financial and nonfinancial benefits of social media