SMART performance metrics are the gold standard in business decisions, from setting overall goals to evaluating innovation and continuous process improvement. Lots of businesses use the SMART acronym, for everything from setting organizational goals to conducting performance reviews to evaluating innovation and continuous process improvement. While SMART metrics are, ultimately, also 'smart', they represent something much more detailed: Specific, Measurable, Achievable, Relevant and Timely performance metrics that can be used to measure success.

Specific – It tells you exactly what you want to happen (“increase conversion rates in under-performing regions.”)

Measurable – You can measure the amount of unique visitors from a certain country against their sales to identify under-performing regions. Then you can enact changes and see if the conversion rate improves.

Attainable – Your goal may be reached through new marketing tactics, offering local currencies or payment methods, and split testing carts.

Relevant – Setting this type of goal lets you know what helps make you successful and what is ineffective. Increasing conversion rates also has numerous additional benefits to your business and your bottom line.

Time-Based – Your goal has a specific timeline (“next quarter”) in which you can implement changes and measure their success.

Question to Consider: