Goal-setting is a common business practice for good reason. You need to know what you want to achieve in a certain period of time so you can prioritize your projects and stay on track.

But despite the value in setting goals, many businesses fail to achieve what they set out to accomplish — and this happens year after year. As many as 90% of businesses don’t reach their strategic goals, with 80% of organizations not even tracking their business goals, according to the Phoenix Business Journal.

Want to make sure you reach your goals next year? In this issue of PromoPro Daily, we share some guidance from Katarina Oko-Odoi, the content marketing manager for Copper, on goal-setting steps to follow.

Remember to collaborate. Each department can set its own goals, Oko-Odoi says, but every group should also share some input into the company’s larger goals. You may want to work with leaders in other departments to survey employees about their biggest priorities.

Perform a SWOT analysis. Short for Strengths, Weaknesses, Opportunities, and Threats, this analysis can shed some light on what your company is doing well and where you may need to improve. The more data you can bring in to inform your analysis, the better, Oko-Odoi says. This may include web analytics, CRM data or sales metrics.

Identify your key growth metrics. Maybe you want to reach a specific revenue target or set a certain number of sales meetings. Whatever your primary drivers may be, it’s important to find your “north star” metrics so you can focus on improving those metrics in a measurable way, Oko-Odoi says.

Use the SMART method. The next step in reaching your business goals is to ensure you follow the SMART method. This stands for Specific, Measurable, Attainable, Realistic and Timely. Setting SMART goals can help you set stretch goals that are also reasonable.

Drill down on how you’ll achieve your goals. Will you need to develop new processes or hire additional staff? Take time to create or modify sales and marketing plans to align with each goal, Oko-Odoi says. Then, make sure you communicate the goals to your entire company. Doing so ensures that everyone is on the same page and gives employees a chance to share their input or concerns.

Successful companies set goals. Whether you’re working with your leadership team or setting goals yourself, follow the steps above to ensure you create the right targets and the best game plan to reach your goals.

Compiled by Audrey Sellers

Source: Katarina Oko-Odoi is the content marketing manager for Copper, a CRM platform built for businesses that use Google Workspace.