OKRs Examples

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Product

OKRs for Product Teams

The main job of a Product team is to help users get their job done. They do so by identifying their customers' needs and delivering the right capabilities through their products.

A Product team mostly looks after 2 things. They make sure that new users can get up & running quickly (Activation), and they make sure that customers find value in the product and keep using it (Retention).

Sometimes, their work will extend to some Referral initiatives if there's a strong need to build network effects. But it will almost always be in response to some work on Retention (ex: I need to invite my team on the platform to work with them).

Example of Product OKRs

You'll find below an example built around a fictitious company. Your OKRs should move from quarter to quarter and map to your company's reality – that's why we thought it's best to illustrate things as a case study that you can take inspiration from.

Scenario

Askawoof is a startup building a platform to help companies run customer satisfaction surveys. Their Product team has decided to focus on onboarding as too many new users are failing to complete the process.

General advice

A common example for Product Objectives is "Delight our customers" followed by some Key Results around NPS, active users, etc. It's easy to understand and it helps explain the difference between Os and KRs. However, you'll want to avoid being too vague in reality.

Objectives should be concise, with a clear direction. It should help everyone (including non-Product people) understand what kind of initiatives the Product team will take, but also what they're not doing.

There's no way you'll ever say "let's stop delighting our customers". This is just something that your org should strive for. On the other hand, you don't have to work on improving onboarding every month. With enough work, you'll get to a stage where you're happy with it and can focus on other issues.

Their Product OKRs

Objective

Solidify our self-serve onboarding

Key result

Increase self-serve activation rate from 13% to 30%.

Key result

40% of new users are using our templates to get started.

Key result

Reduce activation steps from 10 to 3.

More OKR templates →

Objective

Use onboarding as a lever for growth

Key result

New users inviting their team in the first week goes from 5% to 25%.

Key result

Increase weekly active users from 8.5K to 11.2K

More OKR templates →

How to track your Product OKRs?

There are many options available out there but we're generally seeing 2 categories of products emerging.

For teams getting started: Spreadsheets

Spreadsheets are a great way to get started with OKRs. They're flexible and familiar, and they reduce the amount of learning when you're still getting comfortable with the Objectives and Key Results process.

But, you'll probably start to feel some friction as adoption grows. The lack of check-ins workflows and trends makes it hard for spreadsheet to be a long-term solution for OKRs.

For seasoned OKRs team: OKRs-tracking software

If you're looking to simplify your OKRs process, then a dedicated goal-tracking platform is best to keep track of your OKRs at scale.

A platform like Tability will automate the check-ins reminders, provide progress charts and dashboards out of the box, and make the whole experience more collaborative.

Focus tip:

Frequent check-ins are the key to staying on track with your OKRs. Checking progress early and often will tell you what you should and shouldn't focus on. Make check-ins a part of your weekly ritual with Tability →

What other Product metrics can you use?

If you’re looking for some inspiration, here are some example of metrics that can be relevant for your Key Results.

Net Promoter Score (NPS)

NPS is seen as a general indicator of happiness for your customers. It measures how likely your users are to recommend your product.

Product/Market Fit score

The Product/Market Fit survey asks your user how disappointed they would be if your service no longer existed.

Daily/Weekly/Monthly Active Users (DAUs, WAUs, MAUs)

How many people are using your product every day/week/month.

Retention rate

What's the percentage of users that come back to your product every day/week/month.

Churn

The opposite of retention. What's the percentage of users that stop using your product.

Virality

How many people are recommending your product to their friends or colleague.

Engagement

How do people interact with your content (it can be anything, from visits to specific sections to conversations in Intercom…)

Conversion rate

How many signups turn into active customers.

Stop wasting your OKRs. Focus on the right work and accomplish your goals.

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