5 Tips for Setting Objectives and Key Results (OKRs) for Your Business
Setting Objectives and Key Results (OKRs) is fundamental to achieving your business goals. OKRs are even more critical for your marketing plan because they keep you and your team on track and focused.
On this page, we’ll discuss the basics of OKRs and five tips to help you set OKRs. If you want to learn more about how OKRs will help your marketing plan, call us today at 888-601-5359 to speak with a strategist.
What are OKRs?
You may have heard of OKRs, but what do they entail? OKRs are a leadership process for setting goals. It requires communicating and monitoring quarterly goals and results for your business.
Many big-name businesses already use OKRs. Some examples include Target, Walmart, Twitter, Google, and Spotify.
OKRs connect your company, team, and personal objectives to work towards measurable goals. It helps your employees work in a unified direction to achieve a goal.
When you set OKRs, each person on your team knows what is expected of them. These OKRs are public, so everyone in your company knows about them and keeps track of them. This helps your team move toward achieving the same goal.
What is an objective?
An objective is a memorable qualitative description of something you want to achieve. First, think about what you are monitoring. Monitoring your goals can be accomplished with a marketing plan’s measurable objectives.
With a marketing plan, you may set an objective like earning more social media followers or boosting email clickthrough rates (CTR). This is a description of the task you want to achieve.
Make your objective short and sweet. You shouldn’t have an objective that is too detailed, as it can be distracting for your team. A precise objective will help keep your team motivated and focused.
What is a key result?
Key results are the metrics that measure your progress toward achieving the objective. Essentially, they are the numbers that help you accomplish your goal.
If you were trying to earn more social media followers, you’d want to see numbers that prove the success. You’d need to look at your previous followers and current followers to see if the number increased by your set number or percentage.
How do I set an OKR?
If you want your team to be successful, you need to set achievable OKRs. Unrealistic goals will dampen your team’s motivation and ambition. It is essential that you set goals that your team can work towards.
The best way to set OKRs is through this phrase: “I will [objective] as measured by [selected measurement].”
In the first blank, you’ll place your objective, or what you want to achieve. In the second blank, you’ll put how you’ll measure it. This can be done using clickthrough rates, followers, or an increase percentage. The phrase helps you set clear and achievable OKRs.
Some of our client Successes
+95% case study ▸ IncreasedConversionRate by
+37% case study ▸ IncreasedLeadsGenerated by
+60% “We measure our success by how much we WOW our clients.”
Bill Craig WebFX President
How many OKRs should I set?
The point behind OKRs is to keep your team focused on the goals. You don’t want to overload them with too many goals and leave them distracted.
You’ll want to set 3-5 objectives for your team. You don’t want to exceed five objectives, as it can start to get messy and muddle your team’s focus. It is better to keep your objective smaller, so your team can accomplish your goals easier.
Under each objective, 1-5 measurable results. The number of measurable results will depend upon your objective. An objective like earning more social media followers can be proven with less measurable results than creating more engaging emails.
You’ll want to set these OKRs quarterly. Some companies choose to set them annually or monthly, but the majority stick to quarterly OKRs. It gives your team time to accomplish the goals and review your progress.
Why should I set OKRs?
There are numerous reasons why you should set OKRs for your business. Take a look below to see why you should set OKRs for your business.
1. They keep your team focused
OKRs are extremely beneficial to your team. The point of OKRs is to set goals and the way to achieve those goals. It gives your team a game plan and tells them how to reach these goals.
When you set OKRs, you keep your team focused. They know exactly what to achieve and when to achieve it. There are set deadlines that your team needs to meet, which helps them prioritize their time better.
A focused team is a more productive team. Your employees will be more engaged in their work, which will lead to better results for your campaigns. When your team is focused, they have an easier time achieving goals.
2. They make it easier to achieve goals
When you set goals, you want your team to be able to achieve them. OKRs help nudge your team towards completing these goals.
When you set an OKR, you are setting an agile goal. These aren’t long-term goals that take years to accomplish. It needs to be completed in a shorter amount of time and achieve a certain measurable result.
Your team can complete shorter goals faster and easier. They focus better on the smaller goals at hand. If there are any mishaps or changes, it is easier to adapt and create a new plan.
3. They are easy to create
OKRs are easy to set. It’s as simple as that. It’s an extremely beneficial process for your business that is easy to set and achieve.
These OKRs require little time and resources. It doesn’t take much to set up these goals and create a plan to achieve them. It will mostly cost you your time.
You’ll need to take a few hours each quarter to review your OKRs and check to see if you’ve achieved them. Then you can set new OKRs and follow the same pattern. There isn’t much else you need to invest other than a few hours every quarter.
5 tips for setting impactful OKRs
OKRs are very beneficial for your business. It’s a great opportunity to focus on and achieve your goals. Here are a few tips to help you set impactful OKRs.
1. Keep them simple
If you want to set effective OKRs, keep it simple. These are meant to be goals that you can achieve in a short amount of time. Think about goals that you can realistically achieve in this time frame.
Think about what your business needs most. It can be social media followers, higher CTR, or more conversions. These are some goals you can set with realistic numbers you can achieve in a short amount of time.
Also, keep your goals simple to help your team stay focused. If your goals are too in depth, your team may lose track of how to achieve those goals. Straightforward goals will help your team focus on delivering results.
2. Be specific
When you set your objectives, be specific about what you want to achieve. Think about how you can reach the results you want to reach.
To see success with your OKRs, draw out an action plan. This plan should state the steps necessary to complete your goal. It should address how you can reach your goals.
Finally, make your expectations clear for your team. Pencil out your expectations immediately so your team knows what they need to achieve. Be focused and clear about your goals.
When you get specific with your OKRs, you help your team focus on the task at hand. They are well-prepared because they know what to achieve, how to achieve, and when it needs to be done. This will help drive your team towards success.
3. Make them measurable
A big part of OKRs is the results. You want to know if you achieve your objective. When you set your OKRs, focus on goals that are measurable.
A measurable goal will help you see if you’ve achieved success. When you can put a number or a percentage as a goal, it’s easy to measure and see if you’ve reached that goal.
Problems arise when your goals are hard to measure. If your goals are unquantifiable, you’ve made it difficult for your team to know if they have achieved the right results. Establish how you will know when someone has reached that goal.
If you can’t create measurable results or establish how to achieve a goal, it is best to refrain from setting that as an OKR. It will only leave your team frustrated that they cannot complete that goal.
By setting measurable goals, you’ll set your team on the path for success.
4. Break down goals into smaller goals
Mini goals are a great way to keep your team motivated and focused. They help your team progress towards the larger goal and feel confident about achieving goals.
These mini goals should focus on tasks that need to be completed to achieve the key results. They are key milestones in your team’s progress. They should be targeted, just like your OKRs.
First, look at your timeline for your OKR. If you want to achieve something in a few weeks, you can set mini goals for your team to accomplish each day. It will help them seamlessly move towards the larger goal.
Breaking down bigger tasks is extremely beneficial for your team. It makes tasks manageable and helps boost their confidence. They will feel like they are contributing to the larger goal and will feel more motivated to help work towards that goal.
5. Have the proper resources
To bring success for your business, your team needs to have the necessary tools to be successful. They will work hard to achieve your OKRs, so it is essential that you support their objectives and help them reach these goals.
One valuable resource is your budget. Do you have the funds to help your team reach their goals? What kind of costs may you incur from supporting your team?
Money is always an important contributing factor to what you can and cannot do. Make sure that your team knows the budget upfront. Create a budget plan to help them see where you plan to allocate funds and how much so they can prepare and know how much they have to work with.
Your team may need additional resources, too. This can be anything from office supplies to technology programs. If you want to help them see success, you need to provide them with the necessary resources to do their job.
You don’t want to set your team up for failure. Having a lack of resources can lead to your team feeling stressed or overwhelmed with projects.
WebFX will help you set your OKRs to achieve success
OKRs play an important role in helping your business achieve success. You will keep your team more focused on important tasks and help them reach company goals. At WebFX, we know how to create effective marketing OKRs to help your business succeed.
Our team of 150+ experts will bring their knowledge and expertise to your campaign. With over 20 years of experience, we know how to craft marketing plans that work for your business. We’ll help you set up OKRs that drive success for your marketing campaign.
If you want results, we will help you get them. To date, we’ve driven over $1 billion in sales and over 3 million leads for our clients. We focus on driving success for our clients first.
Our clients love the work we do for them. In fact, we have over 420 client testimonials from a variety of industries. Check them out to see what it’s like to partner with a marketing firm like WebFX!
Create your OKRs today
OKRs can help your business stay focused and achieve your goals. If you’re ready to start creating OKRs for your business, contact us online or call us today at 888-601-5359 to speak with a strategist.
We look forward to helping your business grow!
Ready to start marketing your business? Call 888.449.3239 or contact us online today to learn more about how WebFX can help with your marketing challenges.