From the course: Marketing Analytics: Setting and Measuring KPIs
Join today to access over 24,800 courses taught by industry experts.
How to Set Effective KPIs: SMART Methodology
From the course: Marketing Analytics: Setting and Measuring KPIs
How to Set Effective KPIs: SMART Methodology
- [Narrator] In the previous video we talked about Carmen and her goal to quit her job and start a business. Carmen was unclear on how to do this, so we sat down and we talked about how we could reach her objective. Carmen's goal was to match her current salary. This is a hard goal because it doesn't have enough definition to it. In 1981, a method to define organizational goals and objectives came to light, and most organizations still use this today. This is known as the SMART methodology, and it's a great way to add definition to a goal similar to Carmen's. SMART stands for specific, measurable, achievable, relevant, and time-bound. Let's break down each of these elements. Specific. Our objective should be specific. It should define exactly what needs to be achieved. "Match Carmen's current salary" is specific, it's not abstract. If our goal was to allow Carmen to live comfortably, this isn't specific as everyone may interpret, "live comfortably" differently. Measurable. Our…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.