OKR template to drive 110% growth in MRR for our new product

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Your OKR template

The overarching goal of this OKR is to drive a 110% increase in Monthly Recurring Revenue (MRR) for a new product. To achieve this, the first objective is to increase the customer retention rate by 15%. This is a measure of the number of customers that continue to use the product over a given period and requires reducing customer churn.

The second goal focuses on boosting the average revenue earned per customer by 10%, indicating a need to assess pricing strategies and perform market analysis. Building up targeted marketing campaigns, training the sales team, and improving product pricing to optimize revenue effortlessly would contribute to achieving this objective.

The third plank of this OKR is to foster a 30% growth in the revenue drawn from upselling and cross-selling the new product. Key plans for meeting this growth target include developing segmented marketing campaigns, improving the upsell and cross-sell strategies based on customer feedback, and training sales teams to sell these options effectively.

The last objective is to increase the number of paying customers for the new product by 20%. This entails leveraging both traditional and modern methods of customer engagement, such as social media, promotional discounts, and product feature enhancement to attract and retain more customers.

ObjectiveDrive 110% growth in MRR for our new product
KREnhance customer retention rate for the new product by 15%
KRAchieve 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
KRGenerate 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
KRIncrease 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

Use in Tability

How to edit and track OKRs with Tability

You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.

Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.

With Tability you can:

Use AI to draft a complete set of OKRs in seconds
Connect your OKRs and team goals to your project
Automate reporting with integrations and built-in dashboard

Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.

The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.

Step 1. Sign up for a free Tability account

Go tohttps://tability.app/signup and create your account (it's free!)

Step 2. Create a plan

Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.

Step 3. Use the magic importer

Click on Use magic import to open up the Magic Import modal.

Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.

Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!

Now, just click on Import from text and let the magic happen.

Once your example is in the plan editor, you will be able to:

Edit the objectives, key results, and tasks
Click on the target 0 → 100% to set better target
Use the tips and the AI to refine your goals

Step 4. Publish your plan

Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.

From there you will have access to all the features that will help you and your team save hours with OKR reporting.

10+ built-in dashboards to visualise progress on your goals
Weekly reminders, data connectors, and smart notifications
9 views to map OKRs to strategic projects
Strategy map to align teams at scale