Writing Better SMART Goals - OnStrategy

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Writing BetterSMART GoalsCreate goals that have impact in your organization.In this guide, we will cover: What are SMART Goals? Why Great Goals Matter Anatomy of a SMART Goal Going from Good to Great Goals 25 SMART Goal Examples

SMART GoalsIntroductionWhat are SMART Goals?SMART Goals are short-term, strategic actions intended to stretchorganizations to realize more of their full potential. Today, as part of an agilestrategic planning practice, implementing SMART Goals is one way you canlead your business to thrive.First, a definition of the acronym SMART.SMART goals are: Specific: Try to answer the questions of how much and what kind witheach goal you write. Measurable: Goals must be stated in quantifiable terms. Attainable: Goals must be achievable, or they’re a set-up for failure. Responsible Person: Goals must be assigned to a person or a department. Time Specific: Goals must include a timeline of when your goals shouldstart and be accomplished.Why Great Goals MatterTeams need goals for several reasons. Goals capture our aspirations and buildout our vision. They create focus in our daily work and require us to center ourefforts on what we, as an organization, have prioritized. Goals keep teamsaccountable. These statements are to be embedded in your everyday, fromdaily actions to long-term strategic focus.SMART Goals are particularly effective because they are short term in nature—between 12 and 24 months—and include measurable outcome statements.Within a Strategic Plan, SMART Goals support your longer-term strategicobjectives or priorities. SMART Goals provide teams with outcome-based2Copyright 2020 OnStrategy

SMART Goalsstatements and shorter time-frames to keep momentum moving forward toachieve your broader priorities and objectives.Anatomy of a SMART GoalHow to Set SMART Goals – 5-Minute VideoCheck out the 5-Minute Video on SMART Goals!3Copyright 2020 OnStrategy

SMART GoalsGoing from Good toGreat GoalsBelow are two examples that meet the basic requirements of setting SMARTGoals. Example 1 - Increase participation of Downtown Community Clean-Upvolunteers from 200 participants to 500 participants by 2021. Example 2 - By the end of 2021, reduce churn rates of online customersfrom 35% to 20%.While technically SMART, they unfortunately land pretty flat, do little to director inspire, and provide no real direction towards achievement. At OnStrategy,we’ve solved for this with a three-step shortcut to help you write awesomeand inspiring SMART Goals.How to Improve These Goals1.Start with a strong verb: Obviously, the point of the goal is to achievesomething. Starting with a strong verb gives good direction of how you’llachieve said goal. It’ll provide direction, clarity, and momentum toachieving a vision.2.Focus on the M&T’s: The most important parts of the acronym are theMeasurable and Time specific portions. Goals have to be measuredagainst something and bound to some sort of timeline. Period, end ofstory.3.Find some passion: Creating boring goals is sort of like over-cookingsomething; no-one wants to eat something that is dry or doesn’t tastegood. Create something with passion and heart, something that yourteam can connect to. You want them to say, “Yes, I want to do that.”Remember, it’s all about people.4Copyright 2020 OnStrategy

SMART GoalsRevised ExamplesExample 1 - Increase participation of Downtown Community Clean-Upvolunteers from 200 participants to 500 participants by 2021.Revisions - Improve community pride and ownership by recruiting 25participants from each zip code to participate in Downtown CommunityClean-Up Days. Measure: Number of participants Target: 25 from each zip code End Date: 12/31/20 Owner: City AmbassadorsExample 2 - Increase participation of Downtown Community Clean-Upvolunteers from 200 participants to 500 participants by 2021.Revisions - Create stability and consistency in our business by reducingchurn rates from 35% to 20% in 2021 through proactive accountmanagement and monthly health check-ins.5 Measure: Churn percentage Target: 20% End Date: 12/31/20 Owner: Client ServicesCopyright 2020 OnStrategy

SMART GoalsSMART Goal ExamplesMarketing SMART GoalsCreate 5 inspiring, high-value YouTube videos thisquarter to increase subscribers by 10% to reach 50,000 inQ1. Measure: YouTube subcriber count Target: 50,000 subscribers End Date: 04/01/2021 Owner: Sam Doony, Video Creative DirectorImprove the customer experience and reduce shoppingcart abandonment rate through redesigning thecheckout experience by the end of Q2-2021.6 Measure: Shopping cart redesign Target: 100% complete End Date: 6/30/2021 Owner: Graham Dooley, Front End Web DeveloperCopyright 2020 OnStrategy

SMART GoalsCreate a quality inbound sales pipeline throughnurturing 50 leads per week – an improvement of 10% in Q3 of 2021. Measure: Leads acquired Target: 50 leads/week End Date: 9/30/2021 Owner: Marcus Riely, Digital Marketing ManagerCreate high-value, engaging marketing emails by A/Btesting headlines to increase open rates to 30% in 2021. Measure: Email open rates Target: 30% End Date: 12/31/2021 Owner: Marcus Riely, Digital Marketing ManagerDouble the number of Marketing Qualified Leads toreach 100 MQLs/week acquired in 2021 throughthoughtful content marketing and lead nurturingsequences.7 Measure: MQLs acquired/week Target: 100 MQLs acquired/week (up from 50/week) End Date: 12/31/2021 Owner: Marcus Riely, Digital Marketing ManagerCopyright 2020 OnStrategy

SMART GoalsIncrease weekly Facebook comments and shares bycreating 5 posts per week with high-design, engaginggraphics. Measure: Facebook posts per week Target: 5/week End Date: 12/31/2021 Owner: Lauren Owens, Social Media ManagerSales SMART GoalsIncrease contract size by 5% to reach an average dealsize of 50,000 by the end of Q2 of 2021. Measure: Average contract size Target: 50,000 End Date: 12/31/2021 Owner: Katie Hutchens, Sales DirectorReduce our sales cycle time from 90 days to 60 days bycreating value faster and streamlining the contractingprocess by Q2 of 2021.8 Measure: Average time spent in sales cycle Target: 60 days End Date: 6/30/2021 Owner: Katie Hutchens, Sales DirectorCopyright 2020 OnStrategy

SMART GoalsCreate a dedicated sales outreach campaign by the endof Q3 2021 to engage leads who reach a score of 70 orgreater. Measure: Project complete Target: 100% End Date: 12/31/2021 Owner: Ryan David, Sales CoordinatorImplement a new Channel Partner Program to create 5strategic partners by the end of 2021 to diversifyinbound sales channels. Measure: New customer contracts signed from Channel Partner Target: 5 End Date: 12/31/2021 Owner: Graham Dooley, Strategic Patnership CoodinatorExpand current contract renewals by 5% by sendingproactive outreach 30 days in advance of contractexpiration to explore value-added services.9 Measure: Average contract expansion % over prior rear Target: 5% End Date: 12/31/2021 Owner: Ryan David, Sales CoordinatorCopyright 2020 OnStrategy

SMART GoalsOperational/CustomerSMART GoalsRetain an account base of 200 annually contractedclients by conducting monthly account health checks. Measure: Annually contracted clients Target: 200 End Date: 12/31/2021 Owner: Lorna Smith, Client Services DirectorMaintain a profit margin of at least 20% by workingefficiently and managing contract budget hours. Measure: Average profit margin Target: 20% End Date: 12/31/2021 Owner: Lorna Smith, Client Services DirectorHold monthly account reviews to keep a proactive viewon the health of our client accounts. Measure: Account reviews held/month Target: 1 review held/month End Date: 12/31/2021 Owner: Lorna Smith, Client Services DirectorReduce the cost of goods sold by implementing bulkpurchasing practices to reduce the cost of raw materialsby 5% in Q2-2021.10Copyright 2020 OnStrategy

SMART Goals Measure: % reduction in raw materials Target: 10 End Date: 6/30/2021 Owner: Mike Thompson, Purchasing ManagerEnsure we’re reaching our full potential by averaging 25billable hours per client service team member in 2021. Measure: Billable hours per week Target: 1,000 End Date: 12/31/2021 Owner: Lorna Smith, Client Services DirectorProducts/Services SMARTGoalsDevelop a new managed service offering in Q2 that allowus to create more value for our customers while creatingrenewable annual contracts. Measure: Project percent complete Target: 100% End Date: 6/30/2021 Owner: Sam Elway, Operations ManagerLaunch an innovative software update to our applicationby the end of Q3 2021 to add commonly requestedfeature from our customers.11 Measure: Project percent complete Target: 100%Copyright 2020 OnStrategy

SMART Goals End Date: 9/30/2021 Owner: Russell Todd, VP of ITEnhance our organization’s service offering by investing 30,000 in new tools. Measure: invested in new tooling Target: 30,000 End Date: 12/31/2021 Owner: Gregg Thompson, Warehouse ManagerPeople/Learning SMARTGoalsExpand our team’s capabilities by making 5% of worktime each year dedicated to professional developmentand learning.12 Measure: % of employee time spent on professional development Target: 5% End Date: 12/31/2021 Owner: Pam Engleman, HR ManagerCopyright 2020 OnStrategy

SMART GoalsCreate stability in our team and workplace by reducingnew employee turnover by 10% in 2021. Measure: Reduction in employee churn from 2020 Target: 5% End Date: 12/31/2021 Owner: Pam Engleman, HR ManagerLaunch a new employee onboarding program thatreduces the employee training time from 90 days to 60days. Measure: Average onboarding time Target: 60 days End Date: 12/31/2021 Owner: Pam Engleman, HR ManagerCreate a career development program in Q2 2021 todevelop our team into the next generation of leaders.13 Measure: Project percent complete Target: 100% End Date: 6/30/2021 Owner: Pam Engleman, HR ManagerCopyright 2020 OnStrategy

SMART GoalsCreate a culture of safety by implementing a safetyincentive program that provides companywide bonusesfor every 90 incident-free days. Measure: Bonuses per year for safety Target: 4 bonuses End Date: 12/31/2021 Owner: Owen Lawerence, Director of SafteyHire an independent staffing firm by the end of Q1 2021to allow us to expand our hiring pool and resources toscale up our team quickly when we need.14 Measure: Project percent complete Target: 100% End Date: 3/31/2021 Owner: Pam Engleman, HR ManagerCopyright 2020 OnStrategy

What’s Your Strategy?Need help building an agile strategic plan withSMART goals? We‘d love to help.Contact us at [email protected]:@OnStrategyHQ 1 irtualStrategistwww.OnStrategyHQ.com

SMART Goals . Introduction What are SMART Goals? SMART Goals are short-term, strategic actions intended to stretch organizations to realize more of their full potential. Today, as part of an agile strategic planning practice, implementing SMART Goals is one way you can lead your business to thrive. First, a definition of the acronym SMART.