Do OKRs Really Make A Difference When It Comes To Improving Sales?
The sales team is arguably the most important sector of business, as this delegated group brings in revenue, allowing the company to continue growing and making an impact with customers. By setting team goals and analyzing business metrics, the sales team can be the deciding factor between a booming business and a company failing during tough times.
One component the sales team utilizes to improve business strategies is Objectives and Key Results, also known as OKRs. This goal-setting method can be the difference-maker between a fair sales strategy and a highly proficient one. OKRs set the stage for getting whole departments on the same page to collectively agree on how to achieve a sought-after objective.
Software and accounting
If you are the head of a software and accounting company, some OKR examples. for your business may look like this:
- Comprise 60% of the accounting software sales in the local region.
- Connect with customers less than 6 weeks after closing the sale.
- Increase customer retention by 45% over the last 3 months.
- Generate 250 leads per month.
- Attain a 30% conversion rate on all potential leads.
- Improve customer retention and become the leading accounting software seller in the local region.
Some OKR examples for a new sustainability measure might include the following:
- Design services that can be reused more than once
- Products must use environmentally friendly materials for reuse
- 90% of our company’s products launching between the years of 2022-2023 ..will include recycled materials
- Our marketing campaigns will push for a drive to maximize recycled content whenever possible
Professional soccer team
If you play for a professional soccer team, like Manchester City, some OKR examples may look like this:
- Score an average of 2.5 goals per game through the 2021-2022 seasons
- Obtain at least 10 shutouts during the season
- Average conceded goals rate of .75 through the 2021-2022 season
- Ball possession rate of over 60% for every game
- Average 8 shots on goal per game
- Win the Premier League
OKR examples for a freelance consultant to increase website potential could look like the following:
- Launch website for freelance consulting business
- Choose domain name within 30 days
- Choose a content management system within 60 days
- Publish the first article within 90 days
Benefits of using OKRs
Now that you know some OKR examples, you may be wondering – do OKRs really make a difference when it comes to sales? The short answer is yes – let’s see some of the main benefits of using OKRs.
- Connect your employees to obtain specific corporate goals and improve sales
- Give clear direction to every team member, so there is no confusion or wasted energy
- Increase productivity by focusing on specific goals and directing energy
- Track everyday progress towards the aforementioned goals
- Achieve work rate, measurement, and transparency
- Allows for effective and informed decisions that everyone can understand
- Clear goal-setting
- Manage execution with accountability measures
Using OKRs to improve your sales is a trusted method that can connect your employees, give clear direction, increase productivity, and initiate informed decisions. Gaining inspiration from some OKR examples can help you decide which goals you should use for your business plan.