Setting SMART Goals for Your Ecommerce Brand
You know that setting goals are important for making progress, but too often we set lofty or massive goals just as we’re getting started.
Without goals, you’re just throwing spaghetti on the wall and hoping something sticks.
Ecommerce businesses don’t have the time or resources to wait around for things to take off — it’s essential to start strong. How?
Setting goals, of course, but goals that are SMART.
Otherwise, you’ll experience things like decision fatigue, shiny object syndrome, and/or overwhelm.
Here are examples of how to make this actionable for an ecommerce brand:
Set specific goals
Want to increase revenue or customers? Consider setting a specific goal of increasing sales by 10 percent or aim to gain 10 percent more followers on your email list.
Create measurable goals
How will you track whether you’re on the right path? Depending on your goal, measuring success looks like different things:
- Increased page views
- Increased shares on social media
- Increased inquiries
- Decreased bounce rate
- Decreased unsubscribes from your email list
- Decreased cart abandons
Are goals attainable?
Let’s say you’re averaging a 7 or 8 percent increase on signups to your email list month after month.
Jumping up to a 10 percent increase is reasonable with a few new strategic steps, but let’s say you want to hit a 25 percent goal right away. That’s going to be tough without a major overhaul.
Set goals to improve current numbers but don’t make them so lofty or unreasonable that you’ll never reach them in the given timeframe.
Goals need to be realistic
Want a 10 percent increase in email leads over the course of a month? You’re golden.
Want a 50 percent increase in sales by Friday? Might not be too realistic.
Create timely goals
It’s a good idea to have short-term and long-term goals in mind and then create measurable goalposts for tackling those numbers.
Short-term goals are defined as taking place within 3, 6, or 9 months while longer-term goals are done in 12, 18, or 24 months.
As you go, you might realize your goals need to be adjusted or changed around depending on the direction you want to take the brand in…and that’s okay!
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