Business goals are an important part of establishing up priorities and setting a company for success. Understanding how to set achievable goals can greatly increase the ability to stay on track both in the short term and the long term for a company.

The following are the examples for strategic priorities along with their goals and targets.

Table 1. Examples for strategic priorities along with their goals and targets
Strategic Priority Goal Target
Enhance customer experience Improve customer satisfaction Achieve a customer satisfaction score of 90% or higher by Q4 2024
Reduce customer complaints by 20% by the end of 2024
Increase customer engagement Increase active users on the platform by 15% within 12 months
Increase customer retention rate by 10% by Q4 2024
Drive innovation and product development Accelerate time to market for new products Launch 3 new products or features per year starting from 2024
Reduce the product development cycle from 12 months to 8 months by 2025
Foster a culture of innovation Allocate 15% of the annual budget to research and development
Increase the number of innovation projects submitted by employees by 25% within 18 months
Expand market reach Increase market share in key regions Achieve 5% market share growth in the Asia-Pacific region by 2025
Expand into 3 new international markets by 2026
Build strategic partnerships Establish 5 new strategic partnerships with local distributors or resellers by 2024
Increase revenue from partnerships by 20% by the end of 2025
Strengthen operational efficiency Optimize internal processes Implement an enterprise resource planning (ERP) system by Q3 2024
Reduce operational costs by 10% by 2025 through automation
Improve employee productivity Increase employee satisfaction score to 85% by the end of 2024
Reduce employee turnover by 15% by 2025

Recommendations to setup goals and targets

The following are the recommendations on how to setup goals and targets for an organization business growth.

Goal: Increase overall revenue and market share in 2024

Target 1: Expand market share by 10% in target regions

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Maximize
  • Unit of measure: Percentage
  • Start value: 40% (considering market share is already 40% by the end of 2023)
  • Final target value: 50%
  • Check-in frequency: Monthly or Quarterly
  • Target value distribution: Spread linearly across the time period (cumulative)

Target 2: Launch four new products or services by the end of Q4

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Maximize
  • Unit of measure: Count
  • Start value: 0
  • Final target value: 4
  • Check-in frequency: Quarterly
  • Target value distribution: Split equally across the time period (non-cumulative)

Target 3: Acquire 1,000 new enterprise customers

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Maximize
  • Unit of measure: Count
  • Start value: 0
  • Final target value: 1000
  • Check-in frequency: Monthly or Quarterly
  • Target value distribution: Split equally across the time period (non-cumulative) or Spread linearly across the time period (cumulative)
Goal: Improve customer satisfaction and retention

Target 1: Increase Net Promoter Score (NPS) from 70 to 85

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Maximize
  • Unit of measure: Count
  • Start value: 70
  • Final target value: 85
  • Check-in frequency: Monthly or Quarterly
  • Target value distribution: Spread linearly across the time period (cumulative)

Target 2: Decrease customer churn rate from 12% to 8%

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Minimize
  • Unit of measure: Percentage
  • Start value: 12%
  • Final target value: 8%
  • Check-in frequency: Monthly or Quarterly
  • Target value distribution: Spread linearly across the time period (cumulative)

Target 3: Conduct quarterly customer feedback surveys with a 60% response rate

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Maximize
  • Unit of measure: Percentage
  • Start value: 0
  • Final target value: 60%
  • Check-in frequency: Quarterly
  • Target value distribution: Spread linearly across the time period (cumulative)
Goal: Build strategic partnership channels

Target 1: Establish partnership with five new consulting firms

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Maximize
  • Unit of measure: Count
  • Start value: 0
  • Final target value: 5
  • Check-in frequency: Monthly or Quarterly
  • Target value distribution: Spread linearly across the time period (cumulative)

Target 2: Generate $100K revenue through partners

The following is the recommended setup for defining the target using the Target form in the workspace:
  • Start date: 1/1/24
  • End date: 31/12/24
  • Type: Maximize
  • Unit of measure: Currency
  • Start value: 0
  • Final target value: 100K
  • Check-in frequency: Monthly or Quarterly
  • Target value distribution: Spread linearly across the time period (cumulative) or Split equally across the time period (non-cumulative). Set this option depending on whether you want to track the target progress individually for each month or quarter, or at an aggregated level.