5 Rules for setting SMART Goals in Affiliate Marketing

One of the first tasks that all WA members have to accomplish is to set their money goals. For anyone who is new to affiliate marketing, this might sound like an insurmountable task. Why do I need to set the goals? How do I do it in a way that makes sense?

The reason for establishing your money goals is rather straightforward. When you embark on a new task you need a certain benchmark against which you will measure yourself and your progress. Without a goal, you are like a ship without a compass. Lost in sea, sailing without a direction. Sooner or later, the ship will get abandoned and will end either sinking or breaking up without accomplishing its intended journey.

How to avoid your affiliate marketing dreams suffering a tragic shipwreck? How to ensure that you reach your destiny, and that the entire journey is both meaningful and enjoyable?

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I have been pondering this question for a long while, and I decided to apply the SMART goal setting framework to ESTABLISH and ACHIEVE my goals. This is how to do it.

1. S = Specific

Make your goals specific. Try to formulate WHAT you want to achieve and WHY it is important for you.

In affiliate marketing, I express my goals in terms of the referrals / leads that I generate, and commissions that I achieve. I try to keep it very SIMPLE, and don't add conditions, or exceptions.

The reason I chose referrals and commissions is that the number of referrals indicate if my campaign has generated sufficient interest and captured the attention of my target audience.

On the other hand, commissions earned are the the ultimate expression of my success in affiliate marketing. With many referrals, but few commissions, I am only half way there. I am getting the interest, but it is not sufficient to generate the sale.

2. M = Measurable

It is important that the goals are measurable. If it is not possible to measure and quantify your goals, you will not be able to stay focused and motivated. You will also not be able to reasonably verify if you are getting closer to achieving your goals, or not.

In affiliate marketing, it is very easy to quantify your goals. For the leads, put a concrete number, for example, 1000 leads. For commissions, I try to express them in monetary terms, e.g. $1000 in commissions earned.

Depending on what you market, you might also want to express your ultimate goal in terms of the number of sales. This works when all sales earn the same commission, and are identical. One of the best examples is Kyle's 100 sales incentive. It has a clear number behind it, and is easily measurable in terms of achievement. You can read about the incentive here:

https://my.wealthyaffiliate.com/kyle/blog/incentive-updated-...

3. A = Achievable

Make sure that your goals are achievable. Basically, the goals should be realistic, yet at the same time challenging enough to keep you motivated and focused.

I am always surprised to read new WA members' goals of making 6 digit earnings without any prior experience in affiliate marketing. By putting the bar too high, you are very likely going to be disappointed and very likely abandon your journey. Don't make it mission impossible even before you started your mission!

Start with Kilimanjaro, and only after you conquered it, go for the EVEREST! Not the other way around!

4. R = Relevant

When setting your goals, think if they are relevant to you and your circumstances. One of the questions to ask is whether the time is right for this particular goal. Are you ready for this goal? Do you have enought experience to achieve it given your current level of experience, resources and knowledge?

For example, you might decide that generating 6 digit $ earnings is an amazing overall goal. However, under the current circumstances you might consider a more modest and more realistic goal, e.g. generate my first 10 sales, or maybe 100 sales! Once you achieve your modest goal, you can raise your bar higher. Set yourself another more ambitious goal. Do it one step at a time!

5. T = Time-bound

There is nothing worse than the goal without any time limit set to achieving it. If you keep running endlessly, you will waste your energy and will collapse without reaching the finishing line. For any great goal, there has to be a start and a finish.

In affiliate marketing, this means achieving your sales or referral targets in a given period of time. For example, I want to generate 100 sales in three months from now. The goal is clear, time-bound and very easy to measure. You can track your progress and stay motivated until you reach your goal.

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At this point of time, you should know everything about setting your SMART goals in affiliate marketing. By establishing your SMART goals you will have a head start which will significantly increase your chances of success!

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I hope you found my post useful. I would love to hear your views and comments!

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Nellya