The idea behind OKRs (Objectives and Key Results) is to build a common focus within a business and stretch the limits of what’s possible. It is a framework to help you set, track, and execute aggressive goals. Invented at Intel and popularized by Google, OKRs are the secret weapon of sustainable growth. Objectives and key results are broken into two sections and answer the following questions:
Objectivesare the outcomes you wish to achieve over a certain period of time (usually monthly or quarterly). Each objective should be a clear goal so you know when you’ve accomplished it.
Key results are metric-based indicators of success or progress toward your objectives. Since key results are all about measuring progress or success, the important part is having a numeric value associated with each one. And like objectives, key results are time-bound and set for the same frequency - either monthly or quarterly.
In this article, we’ll get through the details of how to set your OKRs and we’ll see, together, few examples of OKRs for SaaS companies.
As you begin thinking about OKRs, first determine what time frame you’ll be measuring against. Three months is the industry standard since it’s long enough to see significant results with a lower administrative overhead but not too long in case you need to change course. One of the reasons objectives and key results work so well is because the framework is part planning, part communication. OKRs are designed to be made public within an organization. When everyone knows and understands the OKRs, the entire company becomes focused and accountable for achieving the goals. As you’re setting your OKRs, I recommend starting at the top of the organization or team. Once the broadest objectives and key results have been defined, you can cascade the objectives to teams and then to individuals. While the specific OKRs will vary for every organization, there are a few universal principles to keep in mind as you set your objectives and key results:
Now, as you understand the theory of OKRs and how to set OKRs for your SaaS company. Let’s move to the practice part. Here are some example OKRs and how does it look like for SaaS Companies:
Objective 1:Continue blog regularity and organic traffic growth
Key result 1:Write X blog posts on topic A, topic B, and topic C
Key result 2:65% growth in organic search sessions vs Q1
Key result 3:70% increase in new trial sign-ups from organic vs Q1
Objective 2:Accelerate monthly recurring revenue growth by building pipeline
Key result 1:Grow MRR 15% in Q2 to X€
Key result 2:Generate X% increase in trial signups vs Q1
Key result 3:Deliver X% increase in demo requests vs Q1
Objective 3: Increase inbound marketing leads
Key result 1:20% increase of demo requests via PPC landing pages
Key result 2:10% boost in conversions from webinar attendees
Key result 3:2x Ebook downloads
If you’re serious about seeing aggressive growth, you must be relentless in implementing and executing your OKRs. A half-hearted attempt will only backfire.
If you have any further questions, feel free to reach out to us and chat about your marketing goals.
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