SMART goals for lead generation in B2B industrial companies
Any marketing action without clear goals is a waste of time, money and resources. But it is not always easy to choose the right objectives. On many occasions, companies fail because they pursue goals that are unrealistic, too ambitious, irrelevant to their business... Or simply because they are not sure about where they should direct their efforts in order to achieve their final goal.
The SMART methodology is a technique that helps you set rational objectives, and it specially suits all types of B2B marketing strategies. In this post we are using it to create a lead generation campaign.
What are SMART goals?
When we talk about goals, SMART is used as an acronym for Specific, Measurable, Attainable, Relevant and Timely.
Let's go through each of these features one by one.
The objective must be as specific as possible. It must be very clear what you want to achieve, who is the target, what are the problems that you may encounter and who is going to be in charge of each part of the project.
What is not measured cannot be improved. There has to be an objective, numerical way of establishing when has the goal been achieved. You must answer questions like “how much” and “when”.
For this, it is necessary to determine the KPIs that will help you measure the efficiency of the campaign at any time and check whether the objectives are being met. If they’re not, you will be able to detect mistakes early. Of course, it is essential to have the appropriate means to carry out this measurement, both in terms of software and analysis methodology.
The goals must be realistic within the constraints of the company and its B2B sector. It is important to be ambitious, but avoiding false expectations. An unattainable goal is useless.
On the one hand, it is necessary to continuously analyse market trends, the competition and its strategies, etc. On the other, you have to analyse your resources and ask yourself how can your company achieve the objective.
It is very important that the goal for lead generation is aligned with the company's global strategy. To find out if this is so, you can ask yourself why you want to achieve it. The answer will help you find out if it really is an important objective.
You should also ask yourself if this is the right time to focus on this goal and if it suits the current company situation.
To be measurable and specific, an objective must have a deadline for its achievement. Otherwise, it is simply a dream or a wish.
SMART objectives usually have a short-term focus, but it is more interesting if you also combine them with longer-term goals.
In addition to the final deadline, it is advisable to also establish a more detailed schedule of the tasks and the objectives to be achieved daily or weekly.
Advantages of SMART objectives
Implementing a SMART methodology does not imply a high cost for organisations. It is more of a philosophy that helps you broaden the business vision, improve the strategic planning, establish a continuous improvement methodology, avoid unnecessary risks, increase control over budgets, reduce costs, improve the engagement of the team and, ultimately, focus on what is important.
3 examples of SMART goals for lead generation
- SMART goal 1: Increase leads by 45% in 3 months using a lead magnet and a landing page.
- Specific: increase the number of captured leads.
- Measurable: 45% more than in the previous quarter, from 400 to 650.
- Achievable: with a valuable lead magnet and a landing page.
- Relevant: if the leads fit the buyer persona, having more leads will translate into more sales.
- Timely: three months.
- SMART goal 2: Increase the number of qualified leads by 20% in two months using an email marketing strategy
- Specific: increase the number of qualified leads, those who are closer to the purchase decision because they have already shown interest in your product or service on several occasions.
- Measurable: 20% more than in the previous two months, from 400 to 480.
- Achievable: with an email lead nurturing campaign.
- Relevant: we bring more leads closer to the moment of purchase.
- Timely: two months.
- SMART goal 3: Increase the number of visits to the company's website by 30% in one month
- Specific: increase the number of visits to the website.
- Measurable: 30% more than in the same month of the previous year. For example from 4,000 to 5,200.
- Achievable: with a Google Ads campaign.
- Relevant: if the website has more visitors with the right profile, you will get more leads simply by maintaining the same conversion rate.
- Timely: one month.
We at BCM Marketing always work with SMART objectives in our lead capture strategies, and we are looking forward to talking about your project.