Applying SMART goals to your company: 4 practical examples and how to formulate them (+ 6 tips)

The SMART method is a useful tool for companies that want to clarify and achieve their goals. It helps you set goals that are specific, measurable, and achievable within a certain period of time.

In this blog, we'll show you how to set SMART goals using four practical examples and give you practical tips for getting started yourself.

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What is the SMART method?

The SMART method is a convenient way to ensure that your goals are clear and achievable. But what does “SMART” actually mean? It stands for:

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• Specifically: The goal must be clear so that everyone knows what to achieve. For example, instead of “increasing sales,” you can say “increase sales by 15%.”
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• Measurable: You must be able to see whether the goal has been achieved, for example by using numbers. This makes it easier to track progress and evaluate success.
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• Acceptable: The goal must be attainable and approved by everyone in the team. This ensures engagement and motivation among team members.
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• Realistic: It must be achievable, taking into account the resources and time you have. Make sure the goal is challenging but not unrealistic.
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• Time-related: There must be a clear deadline for when to reach the goal. This helps create focus and urgency.

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SMART goals, goals and KPIs

When setting SMART goals, it's important to understand how these goals relate to your broader goals and KPIs (Key Performance Indicators).

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Goals

‍Goals are the larger, more general goals you want to achieve, such as increasing your customer base or improving customer satisfaction. SMART goals are more specific steps that help you achieve those broader goals.

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💡 Read more about this the difference between goal, objectives and result.

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KPIs

‍KPIs are measurable values that show how effective you are in achieving your goals. For example, if you have a goal to increase sales, a KPI could be the percentage of revenue growth you want to achieve each month or quarter. SMART goals help you set and track those KPIs.

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SMART goals

With SMART, you ensure that your KPIs are not only measurable, but also realistic and achievable within a certain period of time. This helps you keep track of progress and make timely adjustments if necessary.
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SMART goals are essential for good project planning. In project planning, SMART goals ensure clear tasks, efficient use of resources and meeting deadlines.

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💡 Read more about this how to make a good project planning.

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Formulate SMART goals

Let's now look at a few examples of SMART goals in practice and how they can be formulated.

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1. SMART goal: Increase sales

Example: Over the past few years, your company has always increased its turnover by about 10 percent. Now you want to expand into new markets and hire additional employees to do so.

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SMART objective:

“In the coming year, we want to increase turnover by 15%, so that we have enough money to hire new employees. We use a time recording tool to track how much time we spend with each customer and how much turnover we generate per employee.”

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• Specifically: The goal is clear; we want more turnover.
• Measurable: We can easily follow the turnover figures.
• Acceptable: The extra turnover goes to new employees, which is good for the company's growth.
• Realistic: Given the recent growth of 10%, 15% seems achievable with the right plans.
• Time-related: We want to achieve this within a year.

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This approach not only helps you keep an eye on your finances, but also to plan better.

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2. SMART goal: Increase app usage

Example: Your company has a time tracking app, but currently only 60% of customers use it. After customer feedback, we've made improvements and want to motivate them to use the new version.

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SMART objective:

“Within three months of launching the new app, we want 90% of our existing users to switch. We inform them about the improvements via pop-up messages in the app and social media posts. We also hope that the total usage of the app will rise to 80% during that time.”

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• Specifically: We make it clear that we want to increase the number of users.
• Measurable: We can track the percentage of users through our analytics.
• Acceptable: Customers want to see improvements, so they're probably motivated to try the new version.
• Realistic: The improvements are based on customer feedback, making them more attractive.
• Time-related: We have three months to reach this goal.

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By increasing the use of the app, we improve the user experience and ensure happier customers.

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3. SMART goal: Increase customer satisfaction

Example: We noticed that our customer service receives more complaints. This is a signal that we need to improve customer satisfaction quickly.

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SMART objective:

“Within a month, we're going to send out a survey to 50 of our top customers to get their opinion. We focus on the products that have the most complaints. We are also extending the return period from 14 to 21 days to make it easier for customers who are not satisfied.”

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• Specifically: We take immediate action to address complaints.
• Measurable: We can monitor and analyse the results of the survey.
• Acceptable: Higher customer satisfaction ensures a better relationship with our customers.
• Realistic: Extending the return period is easy to implement.
• Time-related: We have one month to take these measures.

By responding quickly to customer feedback, we show that we care and can improve customer satisfaction.

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4. SMART goal: Recruiting new employees

Example: Our sales team has recently brought in many new customers, but the team is now too small to handle everything properly. We need extra staff.

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SMART objective:

“In the fourth quarter, we want to hire three new employees to join the sales team. We use a recruitment agency to find suitable candidates and the team leader makes an induction plan for the new colleagues within two weeks.”

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• Specifically: We want to hire three new employees.
• Measurable: We can keep track of how many new employees we hire.
• Acceptable: More employees mean better service for our customers.
• Realistic: Using a recruitment agency ensures that we quickly find good candidates.
• Time-related: We have a clear timeline for recruiting and onboarding new employees.

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By building a strong team, we ensure that customers are helped quickly and properly.

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Best practices: How to formulate SMART goals

Now that you know what SMART goals are, here are some helpful tips for formulating your own goals:

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Choose goals that suit you‍

SMART goals are only useful if they match what you or your business needs. Think carefully about what's important to you and set up KPIs that are really relevant.‍

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Use SMART for clear communication‍

Make sure everyone understands what the goals are. Clear communication helps teams work better together and know what to do.

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Schedule and monitor regularly‍

Make a step-by-step plan for how you will achieve your goals. Also, schedule regular times to check how things are going and whether you might need to change things.‍

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Also for personal goals‍

SMART goals aren't just for companies; you can also use them for personal goals, such as fitness or hobbies. Make it easier for yourself by applying these criteria to what you want to achieve.‍

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Make sure your strategy is right‍

SMART helps you break down goals into achievable steps. But make sure that your larger strategy or vision is also good, otherwise you may be heading in the wrong direction.‍

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Evaluate and improve‍

Take time to look at what you've achieved and what you've learned. This helps you make your next goals even better.

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How TimeChimp Can Help You With SMART Goals

To achieve SMART goals, you need the right tools to track and manage your progress. This is where TimeChimp comes in. TimeChimp offers functionalities that are in line with setting and following SMART goals, so that you can keep an overview and make timely adjustments.

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1. Time recording for realistic planning

When formulating realistic goals (the realist part of SMART), it is important to know how much time tasks take. With TimeChimp's time tracking tool, you can track exactly how many hours are spent on projects. This helps you to better estimate how much time a task really needs and to make your goals achievable within the time available.

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💡 Read more about this 6 tips for project managers

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2. Project Management for specific goals

With TimeChimp, you can project divide into smaller, specific goals (the Specific part of SMART). You can easily manage various projects and tasks to keep an eye on all progress. It helps you create clearly defined tasks that match your SMART goals.

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3. Reports for measurable results

To be able to measure your progress (the Measurable part of SMART), you need data. TimeChimp offers comprehensive reports that show how far you are in a project, how many hours have been spent, and what results you have achieved. This makes it easy to set up KPIs and continuously monitor whether you are achieving your goals.

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4. Insights for acceptable goals

With TimeChimp's reports, you can look back at previous projects and analyze which goals were achievable and which were not. This helps formulate acceptable goals (the Acceptable part of SMART) for your team, based on past data.

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5. Time-based planning and deadlines

Because SMART goals must always be time-bound (Time-bound), TimeChimp offers the ability to add deadlines to projects and tasks. You can easily plan when certain goals need to be completed and keep track of whether you're still on track in real time.

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Start your free trial

Curious about how TimeChimp can help you set and track your SMART goals? With our tool, you have immediate insight into your projects, time registration and performance, so you always stay on track. Start one today free 14-day trial and try all features for free.