11 customisable OKR examples for New Product
What are New Product OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
OKRs are quickly gaining popularity as a goal-setting framework. But, it's not always easy to know how to write your goals, especially if it's your first time using OKRs.
To aid you in setting your goals, we have compiled a collection of OKR examples customized for New Product. Take a look at the templates below for inspiration and guidance.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own New Product OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Feel free to explore our tools:
- Use our free OKR generator
- Use Tability, a complete platform to set and track OKRs and initiatives, including a GPT-4 powered goal generator
Our customisable New Product OKRs examples
You will find in the next section many different New Product Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).
Hope you'll find this helpful!
1. OKRs to implement new functionality in our product offering
Implement new functionality in our product offering
Obtain 80% positive feedback from beta testers on new functionality
Develop clear, user-friendly instructions for new functionality- Regularly monitor and analyze beta tester feedback
- Implement suggestions for improvements promptly
- Finalize development of 2 new features by meeting acceptance criteria
- Implement necessary revisions post feedback
- Conduct rigorous testing for each new feature
- Obtain stakeholder approval for the completed features
- Achieve 95% bug-free releases for the new functions
- Train team members in systematic debugging techniques
- Schedule frequent code review sessions amongst developers
- Implement robust testing protocols for newly developed functions
2. OKRs to enhance product functionality by adding three new features based on user feedback
- Improve product functionality through user feedback
- Achieve a 90% satisfaction rate in user testing for new features
- Reduce customer support interactions related to functionality by 25%
- Implement three new features based on user feedback
- Increase daily active user rate by 15% after feature implementation
3. OKRs to boost product visibility and establish success pipeline in new markets
- Boost product visibility and establish success pipeline in new markets
- Raise product awareness by 40% using targeted advertising in selected new markets
- Implement and monitor these targeted advertising campaigns
- Identify potential new markets for targeted advertising efforts
- Develop specific, appealing ads for these selected markets
- Generate a 25% increase in product trial users in new markets
- Launch targeted online ad campaigns in new markets
- Collaborate with influencers popular in potential markets
- Implement a referral program offering incentives for new users
- Secure 10 new, potential business partnerships for product distribution
- Identify suitable companies for potential partnerships
- Reach out to these companies with a business proposal
- Schedule meetings to discuss partnership details
4. OKRs to accelerate new product/feature launch process by 20%
- Accelerate new product/feature launch process by 20%
- Train team on rapid prototyping to speed up design phase by 15%
- Identify rapid prototyping training opportunities and resources
- Schedule and conduct rapid prototyping training sessions
- Monitor and assess efficiency improvements post-training
- Streamline approval process, reducing time spent by 30%
- Eliminate unnecessary steps in the current approval process
- Implement a digital approval system for faster response times
- Train staff in efficient document processing and decision-making
- Implement Agile methodologies to improve product development efficiency by 25%
- Adopt and integrate Scrum framework into product development process
- Consistently review and adjust methods to meet efficiency goals
- Arrange Agile methodologies training for product development team
5. OKRs to implement seamless integration of new product features
- Implement seamless integration of new product features
- Minimize integration errors to less than 1% of total implementations
- Establish stringent coding and testing standards
- Implement thorough checks before deployment of integrations
- Conduct regular refresher training for the team
- Successfully integrate 10 new features without disrupting existing functionality
- Develop comprehensive integration testing strategy
- Conduct thorough risk assessment for each new feature
- Schedule regular team progress reviews
- Reduce integration time by 15% without compromising quality control measures
- Implement efficient software for quicker integration processes
- Provide adequate training on speedy integration strategies
- Streamline workflows to minimize integration steps
6. OKRs to successfully launch a new product
- Launch a successful new product
- Achieve 70% retention rate
- Generate 500 leads from press push
- Generate $500k in new revenue
- Increase active user base to 10K
7. OKRs to drive 110% growth in MRR for our new product
- Drive 110% growth in MRR for our new product
- Enhance customer retention rate for the new product by 15%
- Achieve a 10% increase in average revenue per customer for the new product
- Analyze pricing strategy and competitive landscape to optimize product pricing for maximum revenue
- Conduct market research to identify key customer segments and their willingness to pay
- Develop targeted marketing campaigns to increase product adoption and upsell opportunities
- Provide additional training and resources to sales team to effectively communicate product value
- Generate a 30% growth in upsell and cross-sell revenue from the new product
- Develop targeted marketing campaigns to promote the upsell and cross-sell options of the new product
- Implement customer feedback mechanisms to continuously improve upsell and cross-sell strategies for the new product
- Train sales teams on effectively presenting and selling the upsell and cross-sell options for the new product
- Conduct thorough market research to identify potential upsell and cross-sell opportunities for the new product
- Increase the number of paying customers for the new product by 20%
- Implement targeted online advertising to reach a wider audience
- Offer enticing promotional discounts to encourage immediate purchase
- Leverage social media platforms for customer engagement and word-of-mouth marketing
- Enhance product features and benefits to increase perceived value
8. OKRs to secure FDA approval for our new pharmaceutical product
- Secure FDA approval for our new pharmaceutical product
- Resolve all FDA queries or issues regarding the application within six weeks
- Research and compile thorough responses to each issue
- Submit all responses and corrections to FDA within six weeks
- Identify all FDA queries or issues on the application
- Submit a complete and compliant application to FDA within the first month
- Review FDA guidelines to ensure application compliance
- Submit the completed application to the FDA
- Gather all necessary documents and data for application
- Successfully pass the FDA's inspection and audit of our production facilities
- Ensure all documentation and records are accurate, updated, and easily accessible
- Provide thorough training to staff on FDA regulations and requirements
- Maintain the facility's cleanliness and safety according to FDA standards
9. OKRs to develop a new in-product referrals program
- Develop a new in-product referrals program
- Improve onboarding of referred users to keep conversion above 40%
- Get 3 referrals per customers on average across all accounts
- Identify opportunities for network effects
- Get 60% of new customer accounts to refer at least one other customer
- Add referral step in the onboarding drip feed
- Create incentive to reward customers for referring users
10. OKRs to successfully launch MVP of new module suite
- Successfully launch MVP of new module suite
- Secure 5 confirmed clients adopting the new module suite within its debut quarter
- Secure commitments through contracts or agreements
- Identify potential clients interested in new module suite
- Demonstrate module suite benefits via personalized presentations
- Attain user satisfaction rate of 85% through effective product testing and user feedback
- Implement rigorous product testing protocols before release
- Use feedback to improve product design and functionality
- Develop a user feedback collection and evaluation system
- Complete development of MVP features with zero critical defects by week 6
- Implement strict quality assurance checks for each feature
- Allocate resources and plan week-by-week development tasks
- Prioritize and finalize the list of MVP features by end of week 1
11. OKRs to establish robust safety culture in new manufacturing facility
- Establish robust safety culture in new manufacturing facility
- Achieve zero workplace accidents and incidents
- Implement a comprehensive staff safety training program
- Establish and enforce strict safety protocols
- Regularly inspect and maintain workplace equipment
- Implement 5 safety policies & conduct biweekly safety drills
- Draft a list of 5 comprehensive safety policies
- Schedule and perform bi-weekly safety drills
- Introduce and explain these policies to all staff
- Train 100% of workforce on core safety practices and protocols
- Implement mandatory safety training for all staff
- Develop comprehensive safety training program
- Identify essential safety practices for all roles
New Product OKR best practices to boost success
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tability's audit dashboard will highlight opportunities to improve OKRsTip #2: Commit to weekly OKR check-ins
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
Being able to see trends for your key results will also keep yourself honest.
Tability's check-ins will save you hours and increase transparencyTip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
How to turn your New Product OKRs in a strategy map
Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.
Tability's Strategy Map makes it easy to see all your org's OKRsIf you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More New Product OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to streamline staff operations with requisite tools and support
- OKRs to enhance and exemplify effective leadership skills
- OKRs to increase search ranking
- OKRs to deliver great user experience
- OKRs to enhance efficiency and effectiveness of customer service
- OKRs to elevate understanding in Monitoring and Evaluation (M&E)
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
Create more examples in our app
You can use Tability to create OKRs with AI – and keep yourself accountable 👀
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