META SOCIAL MEDIA MARKETING PROFESSIONAL CERTIFICATE

Course 1 – Introduction to Social Media Marketing

Week 3: Goals and Planning for Success

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Meta Social Media Marketing Coursera Study Guide WEEK 3 Introduction

As a marketer, it’s important to be able to set goals and measure success. This week you’ll learn how to do both by creating SMART goals and key performance indicators.

SMART goals are specific, measurable, attainable, relevant, and time-bound. This means that they are clear and easy to understand, with a defined timeline and metrics for success. Key performance indicators (KPIs) are a way to measure progress toward a goal.

Creating SMART goals and KPIs will help you to create successful marketing campaigns on any platform. With Meta Social Media Marketing Certificate you’ll put your learning into practice by completing a project at the end of the week.

Learning Objectives

  • Define SMART goals for a business
  • Define KPIs for marketing campaigns

HOW TO SET YOUR MARKETING GOALS PRACTICE QUIZ

1. Which of the following specifies what you want to achieve, and helps to make sure that you and the people you are working with are all aligned?

  • Blockers
  • Subgoals
  • A plan
  • A goal (CORRECT)

Correct: Correct! Businesses have goals at different levels, and they all are set to achieve a main company-wide goal.a

2. True or False: Goals can help you stay focused on what you hope to accomplish with your marketing efforts.

  • True (CORRECT)
  • False

Correct: Correct! Having clear specific goals can help keep a team aligned and focus their marketing activity.

3. True or False: It is important to write down your goals.

  • True (CORRECT)
  • False

Correct: Correct! You are more likely to make better goals and reach those goals by writing them down.

4. Casey wants to increase sales by 7% for her online furniture store over the course of the next 6 months. This goal meets all of the SMART elements except:

  • Specific (CORRECT)
  • Relevant
  • Measureable
  • Time-bound

Correct: Correct! While Casey gives some details, she does not provide details for how she will achieve her goal. We also don’t know how this aligns with any of her overall goals for the company.

5. When writing your SMART goals, it is important to remember to make them measurable. Which of the following definitions best describes the meaning of a measurablegoal?

  • A goal that can be evaluated in a quantifiable way, like for instance number or sales, revenue or number of visitors to a website. (CORRECT)
  • A goal that can help achieve bigger business objectives and align with your greater business strategy.
  • A goal that anyone could understand and is specific and clear enough for team members to understand what should be achieved.
  • A goal that has a start and end date.

Correct: Correct! You should be able to track whether you’ve reached your goal or not through numbers or data.

6. According to the SMART acronym, a goal that helps achieve the bigger business objectives of a company and aligns with the greater business strategy is considered:

  • Specific
  • Measurable
  • Achievable
  • Relevant (CORRECT)

Correct: Correct! A relevant goal will be one that is timely and takes the company’s greater objectives into account.

7. 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 (CORRECT)
  • True

Correct: Correct! Though Sheryl’s goal had a timeline of 12 months, it was not specific enough to detail how this expansion would work and how its success would be measured.

8. Goals that serve the bigger business goal but may differ between teams or people with different roles are called:

  • Alternative goals
  • Tiered goals
  • Secondary goals
  • Subgoals (CORRECT)

9. All of the following are elements of the SMART acronym except:

  • Measureable
  • Specific
  • Relevant
  • Agile (CORRECT)

Correct: Correct! This is not an element of the SMART acronym. The “A” is SMART stands for Achievable, which means the goal is feasible for you and your team, and that you believe the goal is possible to achieve with your available resources.

10. According to the SMART acronym, a goal that has a start and end date is considered:

  • Specific
  • Relevant
  • Time-bound (CORRECT)
  • Measurable

Correct: Correct! A goal that clearly defines a timeline for when the goal will be achieved, or a date the goal should be completed by, it is considered time-bound, and therefore meets 1 of the 5 SMART elements.

11. True or False: A goal specifies what you want to achieve, and helps to make sure that you and the people you are working with are all aligned.

  • True (CORRECT)
  • False

Correct: Correct! Businesses have goals at different levels, and they all are set to achieve a main company-wide goal. 

12. Here are some examples of goals for an online clothing store that sold goods for about $80,000 in revenue over the past half year, which do you think are SMART? (Select all that apply)

  • Sell clothes for a total of $100,000 in revenue during the second half of this year (CORRECT)
  • Increase the number of visitors for the website
  • Increase the average checkout value to $100 by the end of the year (CORRECT)

Correct: Correct, this is a smart goal – It is specific, measurable ($100,000 revenue), it is achievable, it is relevant and it is time-bound (second half of this year)

Correct: Correct.  This goal is SMART.  It is specific, measurable (average value of $100), achievable, relevant and time-bound (by the end of the year).

13. Does James have everything he needs to get started?

  • No, not quite, James needs a little more information to formulate his SMART goal (CORRECT)
  • Yes, the goal James is given is specific so he knows what he needs to focus on

Correct: Correct, “Achieve 25% client enrollment in Snackwall” misses some information to be a SMART goal.  James needs to know by when the company expects to achieve the 25% enrollment so his goal is time bound.  With that information it will be specific, measurable, achievable, relevant and time bound, in other words, SMART

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GOALS AND PLANNING FOR SUCCESS QUIZ

1. Which of the following are part of the SMART goal framework? (Choose all that apply.)

  • Time-bound (CORRECT)
  • Specific (CORRECT)
  • Meaningful
  • Achievable (CORRECT)

Correct: Correct! SMART stands for Specific, Measurable, Achievable, Relevant, Time-bound.

2.1. Which of the following goals fit the SMART framework? (Choose all that apply)

  • Gain 20 new followers on the Facebook page by the end of the month (CORRECT)
  • Increase revenue by 25% by the end of the year (CORRECT)
  • Increase the number of visitors to 100/day
  • Enroll 500 new customers  

Correct: Correct! This goal fits the SMART framework, as it is specific, measurable, achievable, relevant, and time-bound.

2.2. Which of the following goals fit the SMART framework? (Choose all that apply)

  • Enroll 500 new customers
  • Increase revenue by 25%
  • Get 5,000 website visits in the month of June (CORRECT)
  • Increase the number of visitors to 100/day in two months (CORRECT)

3. Successful KPIs should:

  • Be quantitative (able to be measured) (CORRECT)
  • Directly relate to the business and the SMART goal you drafted (CORRECT)
  • Be directional (able to go up or down) (CORRECT)
  • Always be accompanied by a chart or graph

Correct: Correct! KPIs need to be clear and include quantifiable metrics.

Correct: KPIs should be lean and mean—every single one should be able to tell you something important about your business and your specific marketing goal.

Correct: Correct! KPIs measure relative performance, so they need to go up and down to tell you how you’re doing.

4. Maria set a SMART goal for her chocolate business: “Increase online sales by 50% by the end of 6 months”. What would be a good KPI for her to use to evaluate if she is reaching this goal?

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

Correct: Correct! TikTok also has its famous “Hashtag Challenges” where users create their own videos based on the hashtag and share it, mentioning the hashtag in the caption.

5.1. Which of the following is an important quality of a KPI?

  • Directly related to your goal (CORRECT)
  • Time-bound
  • Broad

Correct: Correct! A KPI should be directly related to your goal to aid you in tracking your goal.

5.2. Which of the following is an important quality of a KPI?

  • Directional (CORRECT)
  • Significant
  • Finite

Correct! The beauty of Messenger for Facebook and Instagram is that it is easily transferable between apps.

5.3. Which of the following is an important quality of a KPI?

  • Trainable
  • Measurable (CORRECT)
  • Static

Correct: Correct! Being measurable, or quantitative, is an important quality of a KPI.        

6.1. Which of the following is an example of a marketing KPI? Select all that apply.

  • Sales revenue (CORRECT)
  • Influence
  • Conversion rate (CORRECT)
  • Engagement

Correct: Correct! Sales revenue is a good example of a marketing KPI.

Correct: Correct! Conversion rate is a good example of a marketing KPI.

6.2. Which of the following is an example of a marketing KPI? Select all that apply.

  • Cost per sale (CORRECT)
  • Influence
  • Email opens
  • Sales revenue (CORRECT)

Correct! Cost per sale is a good example of a marketing KPI.

Correct: Correct! Sales revenue is a good example of a marketing KPI.

7. Devon set a SMART goal for his hand-knit sweater business: “Create more effective social media ads to gain 5% more customers through social media than the previous month”.

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

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

Correct: Correct! If Devon wants to see if his social media ads are more effective, he needs to keep track of the cost per lead of using social media ads and see if it goes down.

8. Calla and Ivy set a SMART goal for their B2C flower business: “Direct 20% more customers to the website through social media posts in the next three months”. What would a good KPI for Calla and Ivy to evaluate to see if they are reaching their goal?

  • Cost per lead
  • Website traffic (CORRECT)
  • Subscriptions
  • Sales revenue

Correct: Correct! Tracking the website traffic on a monthly basis is a great way to track this goal.

9. Which of the following are examples of Key Performance Indicators [KPIs]? (Choose all that apply)

  • A pie graph that breaks down your audience’s favorite color
  • A measurement of website traffic to your new product page (CORRECT)
  • The number of subscriptions/sales (CORRECT)
  • Your conversion rate for purchases (CORRECT)

Correct: Correct! This is a good example of a KPI: it is directional, quantitative, and can relate directly to a SMART goal.

Correct: Correct! This is a good example of a KPI: it is directional, quantitative, and can relate directly to a SMART goal.

Correct: Correct! This is a good example of a KPI: it is directional, quantitative, and can relate directly to a SMART goal.

10. Maria set a SMART goal for her chocolate business: “Decrease the use of paid ads to market older products and reduce marketing spending by 30% by the end of 6 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)
  • Sales Revenue (how much money you generate from sales)
  • Conversion rate (how many people took action, e.g. bought something, out of the people you attracted)
  • Cost per sale (how much it cost in marketing dollars to generate a sale) (CORRECT)

Correct: Correct! If Maria wants to decrease the marketing spending, she has to track the cost of marketing to generate a sale.

11. Which of the following do you think would be the best KPI for Vodafone to track related to this goal?

  • Number of Vodafone website visits
  • Number of app downloads (CORRECT)
  • Number of people who like the Facebook Ad

Correct: Correct.  The number of app downloads will help Vodafone track whether they are achieving their goal of increasing the app installs by 30%.  This KPI is measurable, it is directional (can go up or down) and it is directly related to the goal

12. 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 (CORRECT)
  • Cost per sale
  • Subscriptions
  • Sales revenue

Correct: Correct! Keeping track of the conversion rate on a monthly basis will help Calla and Ivy observe the change in customers who end up buying products from their website.

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

  • SMART

Correct: Correct! Specific, Measurable, Achievable, Relevant, Time-bound.

13.2. What is the 5 letter framework through which you should plan your business goals

  • SMART

Correct: Correct! Specific, Measurable, Achievable, Relevant, Time-bound.

14. Which of the following is an example of a marketing KPI?  Select all that apply.

  • Influence
  • Cost per lead (CORRECT)
  • Engagement
  • Brand awareness (CORRECT)

Correct: Correct! Cost per lead is a good example of a marketing KPI.

Correct: Correct! Brand awareness is a good example of a marketing KPI.

15. Devon set a SMART goal for his hand-knit sweater business: “Increase revenue from sweater sales by 25% by the end of the year”.

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

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

Correct: Correct! If Devon wants to increase his profit from selling sweaters, he needs to track the sales revenue.

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

  • “Get 10,000 website visits during the month of May”.
  • number of yearly website visits
  • days of the month
  • number of monthly website visits (CORRECT)

Correct: Correct! This is a good example of a KPI specific to the goal. It is directional, quantitative, and related to the SMART goal.

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

18. 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)
  • Cost per lead (how much it cost in marketing dollars to generate a sale) (WRONG)
  • Conversion rate (how many people took action, e.g. bought something, out of the people you attracted) (CORRECT)

19. Which of the following are NOT part of the SMART goal framework? 

  • Achievable – Can it be done?
  • Time-bound – When will it be done?
  • Relevant – Should it be done?
  • Social – how will you integrate it into the community where it’s done? (CORRECT)

Correct: Correct! Social metrics are important, but they’re not part of the SMART framework.

20. True or False?

The following goal fit the SMART framework:

“Increase the number of visitors to 150/day in three months.”

  • T​rue (CORRECT)
  • False

Correct: Correct! This goal fits the SMART framework, as it is specific, measurable, achievable, relevant, and time-bound.

21. Which of the following are examples of Key Performance Indicators (KPIs)? (Choose all that apply)

  • The number of subscriptions/sales (CORRECT)
  •  A pie graph that breaks down your audience’s favorite color
  •  A measurement of website traffic to your new product page (CORRECT)
  •  Your conversion rate for purchases (CORRECT)

22. Does the following goal fit the SMART framework?

“Increase the number of visitors of 150/day in three months.”

  • True (CORRECT)
  • False
Next – Week 2
Next – Week 4

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