Targets – Why Are Monthly Targets Important To Your Success?
Your targets set the direction of travel for your business. Your monthly targets need to be consistent with your medium and long term objectives. However, your monthly targets measure your progress in the here and now. It is for this reason that they are very important.
Your long term goal of generating a certain income is on the horizon and if you experience setbacks you may not think that you are going to reach it.
With well set monthly targets you are chopping up your objectives into manageable bite sized pieces.
You are giving yourself clear indications of how far you have progressed, which will help you when you experience road blocks and setbacks.
How High Should I Set The Bar ?
According to Brian Tracy’s world famous work on success and achievement you should have roughly a 50% chance of achieving the target. This type of target is going to make you stretch but at the same time your subconscious mind will believe that it can be achieved and will help you reach the target.
If the target is stiffer and you think that you only have a 25% chance of achieving it, then you subconscious mind is not likely to buy into the deal and will not help you to achieve it. If you set a target that you think you have a 75% chance of achieving then you are not stretching yourself enough.
This methodology should be used when setting both your medium and long term goals. I have however, focused in this post on the creation of practical and highly measurable monthly targets. I am a great admirer of the work of Brian Tracy and would strongly recommend after you have read this post that you take a look at Brian’s ” 21 Great Ways to Manage Your Time and Double Your Productivity” program.
10 Targets To Set Yourself For The Coming Month.
I have listed below 10 monthly targets that I am using to measure the progress of my business. Your targets need to be personal to you and be things that will represent progress and be in line with your medium and long term objectives. If you can inject some fun into your targets then so much the better.
February 2015 Targets For My Internet Business.
1. Google Adsense Income For February $xx.xx
You can look at your previous month’s income and gauge what would be a useful increase in income. Think of what would be realistic and what represent a 50/50 chance of being achieved.
If you do not have a Google Adsense account then this could be a target.
If Google Adsense accept your website for an account, then this is a sign that you have a quality website that contains original content.
It is an entirely independent evaluation of your website. It does not cost anything to have a Google Adsense account. Essentially you get a payment every time a visitor clicks on one of the Google Ads that are on your site.
2. Organic Visitors to Your Website.
You can with a free Google Analytics account measure how many organic visitors you are getting per month.
These are visitors who have used a keyword (Click here to see my post on keyword research) to reach your site.
This type of measurement will tell you how well your website is doing in terms of search engine rankings. Again, look at last month’s figures and assess what you have a 50/50 chance of achieving. Factor in how much new content you are likely to create during the month.
3. Total Sessions (visits) to Your Website.
Using Google Analytics you can see how many times your site has been visited and how many different visitors that you have had. You are looking to create numeric target for visitors this month.
4. Average Session Time.
This will tell you how long your visitors are spending on your site. If your session times are increasing, this means that your visitors are finding your content to be more engaging. This is a good sign and is likely to result in more conversions (visitors doing what you request). This information can be found using Google Analytics.
5. Keywords ranked in Google, Bing & Yahoo.
You can using a free tool, check your keyword rankings in all three search engines at once. You can set a target in terms of how many keywords you have a ranking with. This will again give you measurements in terms of the progress that you are making.
6. Keywords ranked on the 1st page of Google, Bing & Yahoo
This is an extension of the above target. The ultimate aim is to get as many keywords as possible ranked on the first page and absolutely ideally in the first three places on page one.
7. Total Referrals
This is really the number of leads that you have got. This could be the number of people who have opened a free account for a program that you are promoting or emails that you have captured that you have added to your list.
8. Total Sales
This is perhaps self-explanatory. The number of sales that you have achieved in the month.
9. New Posts & Pages For Your Website.
It is important that you have a number of targets that are almost entirely within your control. A target to create 6 new posts or pages within the month is something that does not depend on other people, search engines or external bodies. It depends on you.
10. Activity Targets.
These are target in terms of activities. This could be things like the number of hours you will spend on the development of your business during the month.
Using Google Analytics To Help You Measure Performance.
By creating a list of targets you have focus on what you are looking to achieve in the coming month. You are looking to take one step at a time and are setting targets that are realistic but at the same time challenging. I have in the targets mentioned the use of Google Analytics. If you click the image below you can view an excellent video that shows you how to use the many features on Google Analytics.
I would really welcome your feedback on how you have used monthly targets to move your business forward. Please also ask me questions that you may have about the monthly targets the I have discussed in this post 🙂
Owner, Work Wise Ways Online