BOOT CAMP - DAY 4 - SMART Goal Setting – KarmaDNA

BOOT CAMP - DAY 4 - SMART Goal Setting

achievable goal goal setting how to analyze traffic measurable goal product description realistic goal set smart goals smart goals specific goals time bound goal

What is a Smart Goal?

Specific

Measurable

Achievable

Realistic

Time Bound

You need to be specific with your goals. Vague or generalized goals don’t provide enough direction. “I will make a lot of sales” - is not a specific goal. Instead use the simple formula below:

I will (goal) by (action)

“I will increase my traffic by creating a blog.” - is a more specific goal.

You should also be able to measure your goals. Make your goals quantifiable. Tie goals in a decrease or increase of a metric. Number of link clicks, bounce rate, conversion rate. “How much, how many, what percent” are the questions you should be able to answer.

“I will increase my traffic by 40% by writing a blog.”- is a more measurable goal.

Why not 100 or 1000? Because goals are supposed to be motivating, not discouraging. Yes, we want to make hundreds or thousands of sales but is that really achievable? Ask yourself and know your limits. Do you believe you can achieve that? Do you have the right tools, sources and skills? Just like - Can you run a 5K or run a mile?

Good goals need to be realistic. Which means, you are able to achieve this goal. You can only have realistic goals if you are in control of them. You are not in control of the buyer’s decision. You can influence but not control. So, saying “I will make 100 sales would not be realistic. Instead we can say:
“I will increase my traffic by 40% by writing a blog,” Yes, because we can increase traffic by writing optimized, relevant content.

Of course, your goals need to be time bound. Set a time for your goals.

“In 1 month, I will increase my traffic by 40%, by writing a blog.” This way a month later you can go back and check your analytics and see where you are with your goal. Depending on the analyzed data, you can adjust your goals next time.

As you get conversions (sales, transactions) you can start setting more specific goals by utilizing analytics. As a result, you can reverse engineer your goal.

One of my clients was selling a digital product. She came to me because she did not get the productivity she needed from her previous mentor. She could not reach her goal in her campaign.

She was promoting her product through a webinar where she gave valuable information and preview of the digital product if you watched until the end. From the previous data, she knew how many people registered and how many actually attended the webinar and how many of those bought the product.

Her goal for her campaign was, $500,000 revenue by 500 sales, with a 5% conversion rate and an attendance of 60%.

Let’s reverse engineer this and look at why she did not achieve her goal.

500 Sales with a 5% conversion rate, means 10,000 people need to attend the webinar. Goal attendance rate was 60%, which is 16,000 people needed to register. She only had about 9,000 registered when she launched the campaign. So, her goal was not achievable, nor realistic.

How did I help her achieve her goal?

Simply by making her register 16,000 people. To make her numbers and achieve her goal. We posted more, we gave more valuable information, we did giveaways, we ran ads, we added webinars and registered 16,000 people. She ended up making over $800,000. She over-achieved her goal because she increased the attendance rate by adding more webinars, for those who had limited time. Also she made sales before launching the campaign because of more relevant visibility and people were buying the product without attending the webinar.

Set SMART goals. Analyze your numbers. Reverse engineer your goal. Make more sales!

Metrics you need to analyze frequently

Conversion rate - The conversion rate is the number of conversions divided by the total number of visitors.

Page Views – How many people visited your page.

Bounce Rate - The percentage of visitors who enter the site and then leave rather than continuing to view other pages within the same site. (as previously mentioned “click and dip”)

Traffic by Source – This is about where did you get the traffic from and which platform sent more people to your website.

TASKS:

  1. Write 3 Monthly Smart Goals.
  2. Write 3 Quarterly Smart Goals. 
  3. Look at your goals from the first day of the challenge and compare. What is the difference? Comment below. 
  4. Display your Smart Goals in a place where you can read them everyday.
  5. Download the Product Description Template.
  6. Write a product description by using the template. Make sure your product description is 300 words for optimization.

When you are done comment "Done" on the post in the group. 

Karma Hunter



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