vmartinez

 

Calla and Ivy set a SMART goal for their B2C flower business: “Gain 25% more sales from the people who visit the website in the next six months”. What would a good KPI for Calla and Ivy to evaluate to see if they are reaching their goal?

 

• Conversion rate
• Subscriptions
• Sales revenue
• Cost per sale

 

Devon set a SMART goal for his hand-knit sweater business: “Gain 20% more new customers by the end of the year”.

What would be a good KPI for him to use when evaluating if he is reaching this goal?

 

• Sales Revenue (how much money you generate from sales)
• Brand awareness (number of people who know about your brand)
• Conversion rate (how many people took action, e.g. bought something, out of the people you attracted)
• Cost per lead (how much it cost in marketing dollars to generate a sale)

 

Maria set a SMART goal for her chocolate business: “Increase the amount of new followers on the business’ social media page by 20% by the end of 3 months”. What would be a good KPI for her to use when evaluating if she is reaching this goal?

 

• Brand awareness (number of people who know about your brand)

• Conversion rate (how many people took action, e.g. bought something, out of the people you attracted)
• Sales Revenue (how much money you generate from sales)
• Cost per sale (how much it cost in marketing dollars to generate a sale)

 

 

Which of the following is a KPI for the following SMART goal?

“Get 10,000 website visits during the month of May”.

 

• number of monthly website visits
• number of yearly website visits
• days of the month

 

 

What’s the 5-letter framework through which you should plan your business goals?

 

SMART

 

 

After a successful year of business, Sheryl wants to expand her makeup and skin care business by opening up two more locations in her town. She decides to set a goal to open up both locations within 12 months. During the expansion process, she encounters difficulties. This is because her goal was not time-bound.

 

• False

 

• True