How to use the SMART method?

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Now that you have mastered the 5 criteria of the SMART method, how can you actually set SMART objectives?

We'll walk you through the steps you need to take to write SMART business goals.

Example of a sales action plan using the SMART method: boosting sales of high-end items
Let's take the example of a sporting goods chain. With an international sporting event coming up in May in your city, you want to take advantage of the opportunity to boost sales of high-end items more suited to competitive sports.

Specific : This event is city-specific. You'll therefore specifically ask the four stores in that city to achieve this objective, since they're directly affected.

Measurable : Implementing a sales campaign will increase your croatia phone number data communications budget. Fortunately, you're generating higher margins on the high-end items targeted for this campaign. To make the campaign worthwhile, you estimate that a 30% increase in sales of high-end items is necessary. To guarantee your margins, you can add a sub-objective. For example, specify that half of the items are not discounted and that the prices of the others are not to fall below a 5% margin.

Acceptable : Plan an adequate budget for implementation, the communications campaign, and events. This will require both staff mobilization and marketing budgets to achieve the objective. Only by empowering your teams can the commercial operation succeed.

Realistic : Selling high-end items serves a dual purpose for your business this year. First, it helps boost the chain's brand image, as it seeks to position itself as a high-end retailer. Second, it helps clear excess inventory in certain product categories. You can use this inventory for promotional offers.

Time-bound : In order to reach as many customers as possible, you extend the sales period 2 weeks before and 2 weeks after the event, which takes place throughout the month of May (i.e., from April 15 to June 15).

Summary of your business action plan using the SMART method:
You have the ambition to develop your chain of stores' high-end brand image. This is a major objective and a unique opportunity to become a key player in this market niche, during the duration of the sporting event in your city. During this operation, you will be able to mobilize staff to this objective and clear stocks of high-end items for certain sports for which you sell less equipment.

You want to increase sales of high-end items by 30% without lowering your margin beyond 5%.

The commercial operation starts on April 15 and ends on June 15.

The marketing department will provide the four stores with communication materials and implementation instructions. You have budgeted for a digital and poster advertising campaign that will begin on April 5th.