6 OKR examples for Cost Optimization
Writing good OKRs can be hard, especially if it's your first time doing it. You'll need to center the focus of your plans around outcomes instead of projects.
We have curated a selection of OKR examples specifically for Cost Optimization to assist you. Feel free to explore the templates below for inspiration in setting your own goals.
If you want to learn more about the framework, you can read more about the OKR meaning online.
Best practices for OKR
Your objectives should be ambitious, but achievable. Your key results should be measurable and time-bound. It can also be helfpul to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Building your own OKRs with AI
While we have some examples below, it's likely that you'll have specific scenarios that aren't covered here. There are 2 options available to you.
- Use our free OKRs generator
- Use Tability, a complete platform to set and track OKRs and initiatives – including a GPT-4 powered goal generator
How to track OKRs
Quarterly OKRs should have weekly updates to get all the benefits from the framework.
Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKRs-tracking platform to make things easier.
We recommend Tability for an easy way to set and track OKRs with your team.
Check out the 5 best OKR tracking templates to find the best way to monitor progress during the quarter.
Cost Optimization OKRs templates
The examples have Cost Optimization Objectives and Key Results, but they may also include the tasks that can help you get there.
OKRs to increase cost management efficiency for people and operations
Increase cost management efficiency for people and operations
Implement cost tracking system to monitor and analyze spend across departments
Train department heads in cost tracking system usage- Launch system and begin monitoring departmental expenses
- Select cost tracking software suitable for our business needs
- Train managers on cost management best practices to mitigate overspending
- Follow-up on training effectiveness and changes
- Identify experts to guide practice implementation
- Arrange cost management training seminars for managers
- Reduce operational costs by 10% through process optimization and automation
- Conduct a thorough assessment of current operational processes
- Implement process optimization and automation strategies
- Identify inefficiencies and areas for automation
OKRs to significantly reduce Customer Acquisition Cost (CAC) for our mobile app
- Significantly reduce Customer Acquisition Cost (CAC) for our mobile app
- Improve app store optimizations to increase organic downloads by 20%
- Leverage user feedback for app improvement
- Review and enhance keyword strategy in app descriptions
- Optimize app icon and screenshots for better visibility
- Enhance referral program to increase organic acquisition by 30%
- Redesign referral incentives to make them more attractive
- Implement user-friendly referral process in the app/website
- Launch marketing campaign to promote referral program
- Implement A/B tests on marketing channels to enhance conversion rates by 15%
- Identify key variables for A/B testing in current marketing channels
- Analyze results, identify successful variables, implement changes
- Plan and execute A/B tests in the identified marketing channels
- Decrease app installation cost by 25% through optimizing ad targeting
- Analyze user data to better understand our successful app installation demographics
- Monitor and adjust ad campaigns based on performance metrics
- Refine ad targeting parameters based on this analysis
OKRs to optimize CPA by reducing it by 15%
- Decrease CPA by 15%
- Identify and pause underperforming campaigns
- Pause or adjust campaigns that consistently underperform benchmarks
- Review campaign performance metrics
- Determine performance benchmarks for each campaign
- Compare benchmarks to current campaign performance
- Optimize landing pages for higher conversion rates
- Increase page load speed by optimizing images and minimizing text
- Simplify form fields and reduce the number of required inputs
- Conduct A/B testing to determine optimal page layout
- Create clear call-to-action button with contrasting color and placement
- Perform a comprehensive audit of current campaigns
- Review campaign goals and success metrics
- Evaluate ad copy and creative effectiveness
- Analyze audience targeting and segmentation
- Assess budget allocation and ROI
- Increase bids on top-performing campaigns
- Monitor campaign performance to evaluate the effectiveness of bid increases
- Identify top-performing campaigns
- Implement bid increases on identified campaigns
- Analyze performance data to determine bid increase percentage
OKRs to efficiently migrate services and databases to Google Cloud
- Efficiently migrate services and databases to Google Cloud
- Achieve minimal downtime during the migration process
- Conduct regular communication regarding the migration process with all relevant stakeholders
- Perform a thorough assessment of the existing infrastructure and identify potential issues
- Develop a detailed migration plan with clear timelines and allocated resources
- Implement redundancy measures and backup systems to minimize the impact of any disruptions
- Optimize costs by analyzing and implementing cost-effective solutions in Google Cloud
- Identify and eliminate any unnecessary services or resources to reduce expenses
- Regularly monitor and review cost reports and adjust strategies accordingly
- Research and implement more cost-effective alternatives or optimized configurations for existing services
- Conduct a thorough analysis of current Google Cloud services and associated costs
- Ensure seamless data migration from existing databases to Google Cloud
- Perform necessary data cleansing and transformation to ensure compatibility with Google Cloud
- Assess current database structure and data volume for smooth migration planning
- Create a detailed data migration strategy outlining steps, tools, and timelines
- Execute step-by-step migration process, verifying data integrity and minimizing downtime
- Successfully migrate all services from current platform to Google Cloud
OKRs to optimize AWS Costs
- Optimize AWS Costs
- Decrease monthly AWS spend by 15% compared to the previous quarter
- Implement automatic scaling and resource utilization monitoring for cost-effective resource provisioning
- Implement AWS Cost Explorer to analyze spending patterns and identify optimization opportunities
- Optimize EC2 instances and remove unused resources to reduce AWS usage costs
- Utilize Reserved Instances and Savings Plans to save on compute and database service costs
- Identify and eliminate any unnecessary or unused AWS resources
- Remove or terminate any unnecessary or redundant AWS resources immediately
- Evaluate the purpose and necessity of each identified unused resource
- Regularly monitor and audit AWS resources to ensure ongoing resource optimization
- Review all AWS resources to identify any that are not actively being used
- Implement cost-saving measures, such as Reserved Instances and Spot Instances utilization
- Conduct regular cost analysis to track and report savings achieved from optimization efforts
- Compile a comprehensive report showcasing the achieved savings and present it to stakeholders
- Review cost data and compare it to previous periods to identify potential savings
- Analyze cost drivers and evaluate opportunities for optimization in different areas
- Implement a system to regularly track and monitor ongoing optimization efforts and cost savings
OKRs to decrease user acquisition cost for our mobile app
- Decrease user acquisition cost for our mobile app
- Improve advertisement click-through rate by 15% with targeted marketing campaigns
- Monitor, analyze, and optimize campaign performance regularly
- Implement targeted ad campaigns based on identified personas
- Research customer behavior to create detailed audience personas
- Reduce average acquisition cost per user by 25%
- Increase targeting precision in ad campaigns
- Analyze and optimize current marketing strategies
- Enhance the retention strategies for existing customers
- Increase organic app downloads by 30% through app store optimization
- Promotion through positive user reviews and ratings
- Develop compelling app descriptions and attractive icons
- Conduct keyword research to improve app store search ranking
More OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to maximize self-service options for private customers
- OKRs to boost customer acquisition rates significantly
- OKRs to achieve ISO 27001 certification with an action plan
- OKRs to enhance inter-departmental collaboration for effective social media operations
- OKRs to attain ISO 27001 certification
- OKRs to ensure readiness for GA release of product on Linux
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: Complete 2024 OKR cheat sheet
- Blog posts: ODT Blog
- Success metrics: KPIs examples