March 26, 2021
OKR Framework Utility for Marketing: Exploring Key Examples
Corporate leaders have adopted different approaches for performance management. Peter Drucker introduced Management by Objectives (MBOs) strategy to define a set of objectives and plan ways to achieve those goals. Later during the 80s, Key Performance Indicators (KPIs) gained popularity amongst organizations for setting business goals. In 1999, John Doerr introduced Objectives and Key Results (OKRs) to Google, and today OKRs have become the de facto standard to create shared objectives for individuals and teams, focus on priorities, and attain measurable results. The OKR framework is a simple yet powerful tool that different business verticals embrace, like Marketing, Operations, HR, Sales, and so on. The aim is simple- to align everyone towards common goals and contribute towards increasing revenues, accelerating performance, and unlocking business success.
Also Read: Unlocking the Potential of OKR Framework
Different departments of an organization implement the OKR framework, and marketing is no exception. Setting marketing objectives and improving performance is not merely about increasing leads, clicks, views, etc. It is also about adopting effective methods that yield better outcomes and focus on what matters the most. Here are some of the significant examples of marketing OKRs that enable companies to improve customer retention, increase revenues, drive elusive results, and ultimately attain success.
Objective: Increase brand recognition with our industry
Key Result 1: Sponsor 1 major event with 1000+ audiences
Key Result 2: Organize 3 webinars with 3 different industry partners
Key Result 3: Conduct 1 co-branded event with a high brand value partner
For the above marketing OKR template, the objective is to improve brand recognition in the existing market. To attain this objective, employees and the leaders from the marketing department will set multiple key results. One key result (KR) includes a sponsored event where more than 1000 people can join to get insights about the company and its products to increase client retention and overall sales. Other KRs enable the organization to increase its brand value by organizing events and webinars with its industry players and client partners.
Objective: Improve email marketing campaigns for 2021
Key Result 1: Increase CTR for emails by 30%
Key Result 2: Maintain bounce rate less than 6%
Key Result 3: Increase email distribution list from 20K to 35K
To increase company ROIs and expand the overall business reach, marketing departments identify the goal of increasing email campaigns for 2021. To meet this objective, the team defines multiple KRs, including the increase of Click-through Rate (CTR) by 30% and reduce the bounce rate to 6%. Another KR includes a rise in the number of targeted audiences for email campaigns from 20,000 to 35,000. This is one of the critical objectives and key results examples that help the marketing vertical increase sales, drive customer satisfaction, and the overall impact on business.
Objective: Drive the SEO strategy and improve the results
Key Result 1: Rise in organic traffic from 5K to 15K visitors
Key Result 2: Add 10 new SEO keywords within the first page of search results
Key Result 3: Get minimum 2 keywords with the #1 position in Google search
Another important example of marketing OKRs includes an objective to improve the SEO strategy to bring better outcomes for marketing and sales teams. To attain this objective, KRs include the rise in the number of visitors from 5,000 to 15,000 and improve keyword ranking on Google and other search engines. This will ultimately help the organization increase its brand value, reach, and overall growth while unlocking performance impact and business excellence.
The above-discussed marketing OKR examples enable the entire organization to create alignment between employees, prioritize their goals, set the right rhythm, and execute the strategic plan to attain measurable outcomes. Are you from the marketing vertical and want to align with your company’s goals through increased leads, better SEO results, and higher customer retention levels? Then, implementing the powerful OKR framework can serve it all by improving workforce performance and identifying shared goals for a quarter or year. Unlock:OKR is the perfect OKR tool that can help your business achieve new heights and drive performance levels through Alignment, Focus, Transparency, Rhythm, and Execution. To know more about the features and benefits of Unlock:OKR, you can Request a Demo.