6 OKR examples for Profitability
Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.
We've tailored a list of OKRs examples for Profitability to help you. You can look at any of the templates below to get some inspiration for 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.
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
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.
Profitability OKRs templates
We've added Profitability Objectives and Key Results, but also the initiatives that relate to the OKRs.
OKRs to achieve profitability by reducing operational costs by 20% in the current fiscal year
Cut operational costs to achieve profitability
Reduce employee overtime costs by 30%- Implement automation processes to reduce manual labor costs by 20%
- Decrease inventory storage costs by 25%
- Lower utility expenses by 15% through energy-efficient measures
OKRs to establish profitability foundations
- Establish profitability foundations
- Increase sales revenue by 25%
Develop and launch new product lines to attract customers- Enhance customer service to improve client retention rates
- Implement a targeted marketing campaign to boost product awareness
- Reduce operational costs by 10%
- Streamline processes to eliminate waste and improve productivity
- Increase energy efficiency to lower utility bills
- Review all supplier contracts for potential cost-saving opportunities
- Improve net profit margin by 15%
- Implement cost reduction strategies across all operational departments
- Streamline supply chain to reduce unnecessary expenditures
- Increase product prices without impacting customer demand
OKRs to increase sales and profitability for sellers in the next quarter
- Increase sales and profitability for sellers in the next quarter
- Increase the number of new customers acquired by sellers by 20%
- Enhance customer referral program to incentivize existing customers to refer new buyers
- Develop and implement targeted marketing campaigns to attract new potential customers
- Analyze and optimize online presence to increase visibility and attract new customers
- Improve sales training program to enhance sellers' prospecting and customer acquisition skills
- Achieve a 10% increase in average order value per customer
- Analyze customer preferences and identify potential products to upsell
- Train sales team to effectively communicate and emphasize the value of additional products
- Improve website design and layout to promote cross-selling and product bundling
- Implement targeted promotions and discounts to encourage higher order values
- Implement and optimize targeted marketing campaigns resulting in 15% higher conversion rates
- Continuously test and refine marketing strategies to achieve 15% higher conversion rates
- Conduct market research to identify target audience and their preferences
- Utilize data analytics to measure campaign effectiveness and make necessary adjustments
- Create personalized and tailored content for each target segment
- Improve seller satisfaction rating to an average of 4.5 out of 5
- Implement a feedback system to gather seller ratings and reviews regularly
- Provide comprehensive seller training programs to enhance product knowledge and customer service skills
- Analyze seller feedback data to identify recurring issues and proactively resolve them to improve satisfaction
- Assign dedicated account managers to build stronger relationships and address seller concerns promptly
OKRs to accelerate the path to profitability
- Accelerate the path to profitability
- Reduce budget spent on SaaS subscriptions by 15%
- Optimise paid marketing campaigns to achieve a 10% improvement in lead conversion rate
- Increase customer lifetime value by 25%
- Increase MRR by 20%
OKRs to achieve record profitability
- Make our org the most profitable, ever
- Improve Operating Margin by 45%
- Improve Gross Profit Margin (GPM) to 65%
- Achieve working capital turnover ratio of 2
- Reduce Operating Expense ration from 80% to 70%
- Decrease Cost of Capital (COC) by 10%
OKRs to enhance profitable performance of the finance team
- Enhance profitable performance of the finance team
- Improve the ROI (Return on Investment) by 10% on all key business initiatives
- Increase upselling and cross-selling efforts across channels
- Identify and eliminate inefficient processes or expenditures
- Implement tracking metrics to optimize marketing campaigns
- Increase total revenue by 15% in operational areas
- Initiate strategies for customer retention and acquisition
- Enhance product/service offerings to drive sales
- Implement efficiency measures to reduce operational costs
- Cut financial inefficiencies and wastage by 20%
- Implement stricter budget control measures
- Conduct thorough assessments to find wasteful spending
- Train employees on cost efficiency strategies
More OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to enhance the SLA adherence for IT tickets
- OKRs to reduce technical debt
- OKRs to attain ISO 27001 certification
- OKRs to align team's mission and vision with company's strategic goals
- OKRs to enhance brand presence on various social platforms
- OKRs to improve our email Marketing activities
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