Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.
What are New Product OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
OKRs are quickly gaining popularity as a goal-setting framework. But, it's not always easy to know how to write your goals, especially if it's your first time using OKRs.
To aid you in setting your goals, we have compiled a collection of OKR examples customized for New Product. Take a look at the templates below for inspiration and guidance.
If you want to learn more about the framework, you can read our OKR guide online.
The best tools for writing perfect New Product OKRs
Here are 2 tools that can help you draft your OKRs in no time.
Tability AI: to generate OKRs based on a prompt
Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.
- 1. Create a Tability account
- 2. Click on the Generate goals using AI
- 3. Describe your goals in a prompt
- 4. Get your fully editable OKR template
- 5. Publish to start tracking progress and get automated OKR dashboards
Watch the video below to see it in action 👇
Tability Feedback: to improve existing OKRs
You can use Tability's AI feedback to improve your OKRs if you already have existing goals.
- 1. Create your Tability account
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on Generate analysis
- 4. Review the suggestions and decide to accept or dismiss them
- 5. Publish to start tracking progress and get automated OKR dashboards
Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.
New Product OKRs examples
You will find in the next section many different New Product Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).
Hope you'll find this helpful!
OKRs to implement new functionality in our product offering
ObjectiveImplement new functionality in our product offering
KRObtain 80% positive feedback from beta testers on new functionality
Develop clear, user-friendly instructions for new functionality- Regularly monitor and analyze beta tester feedback
- Implement suggestions for improvements promptly
- KRFinalize development of 2 new features by meeting acceptance criteria
- Implement necessary revisions post feedback
- Conduct rigorous testing for each new feature
- Obtain stakeholder approval for the completed features
- KRAchieve 95% bug-free releases for the new functions
- Train team members in systematic debugging techniques
- Schedule frequent code review sessions amongst developers
- Implement robust testing protocols for newly developed functions
OKRs to successfully launch a new payment service product
- ObjectiveSuccessfully launch a new payment service product
- KRSecure 1,000 new registrations for the payment service
- Launch a targeted online marketing campaign to attract new users
- Offer an incentivized referral program for existing customers
- Collaborate with businesses to bundle our service with their products
- KRAchieve 95% positive customer feedback on usability and convenience within three months
- Provide prompt and effective customer support
- Implement regular improvements based on user feedback
- Develop intuitive and user-friendly product interface
- KRIncrease product awareness through a marketing campaign with 5,000 engagements
- Develop a creative marketing strategy centered on product awareness
- Deploy campaign on various digital platforms for broad reach
- Monitor and analyze campaign engagement to improve approach
OKRs to launch a successful new insurance product
- ObjectiveLaunch a successful new insurance product
- KRObtain requisite regulatory approvals for the new insurance product
- Follow up on approval status regularly till obtained
- Identify necessary approvals for the insurance product from regulatory bodies
- Submit applications to appropriate regulatory agencies
- KRDevelop a detailed insurance product prototype by involving 15 potential customers
- Identify 15 potential customers for feedback sessions
- Sketch a draft of the insurance product prototype
- Organize feedback/improvement sessions with customers
- KRAchieve 5,000 sign-ups for the new insurance product post-launch
- Partner with relevant industry influencers for promotion
- Develop a strategic digital marketing campaign targeting potential sign-ups
- Offer special discounts or bonuses for early sign-ups
OKRs to successfully develop and launch new products and platforms to customers
- ObjectiveSuccessfully develop and launch new products and platforms to customers
- KRDevelop 3 unique and customer-focused products in different categories on the platform
- Prototype, test and refine the three product concepts
- Brainstorm product ideas based on research findings
- Identify customer needs through surveys and market research
- KREnsure 95% of customer service responses about the new launches are positive after launch
- Implement customer suggestions for improvement swiftly
- Train customer service team on new product details prior to launch
- Monitor and analyze customer feedback regularly post-launch
- KRAchieve a 10% increase in customer engagement within the first month of launching products
- Implement a reward system for customer referrals and reviews
- Enhance social media marketing with engaging, interactive content
- Develop a post-purchase follow-up strategy to request feedback
OKRs to enhance product functionality by adding three new features based on user feedback
- ObjectiveImprove product functionality through user feedback
- KRAchieve a 90% satisfaction rate in user testing for new features
- KRReduce customer support interactions related to functionality by 25%
- KRImplement three new features based on user feedback
- KRIncrease daily active user rate by 15% after feature implementation
OKRs to boost product visibility and establish success pipeline in new markets
- ObjectiveBoost product visibility and establish success pipeline in new markets
- KRRaise product awareness by 40% using targeted advertising in selected new markets
- Implement and monitor these targeted advertising campaigns
- Identify potential new markets for targeted advertising efforts
- Develop specific, appealing ads for these selected markets
- KRGenerate a 25% increase in product trial users in new markets
- Launch targeted online ad campaigns in new markets
- Collaborate with influencers popular in potential markets
- Implement a referral program offering incentives for new users
- KRSecure 10 new, potential business partnerships for product distribution
- Identify suitable companies for potential partnerships
- Reach out to these companies with a business proposal
- Schedule meetings to discuss partnership details
OKRs to accelerate new product/feature launch process by 20%
- ObjectiveAccelerate new product/feature launch process by 20%
- KRTrain team on rapid prototyping to speed up design phase by 15%
- Identify rapid prototyping training opportunities and resources
- Schedule and conduct rapid prototyping training sessions
- Monitor and assess efficiency improvements post-training
- KRStreamline approval process, reducing time spent by 30%
- Eliminate unnecessary steps in the current approval process
- Implement a digital approval system for faster response times
- Train staff in efficient document processing and decision-making
- KRImplement Agile methodologies to improve product development efficiency by 25%
- Adopt and integrate Scrum framework into product development process
- Consistently review and adjust methods to meet efficiency goals
- Arrange Agile methodologies training for product development team
OKRs to implement seamless integration of new product features
- ObjectiveImplement seamless integration of new product features
- KRMinimize integration errors to less than 1% of total implementations
- Establish stringent coding and testing standards
- Implement thorough checks before deployment of integrations
- Conduct regular refresher training for the team
- KRSuccessfully integrate 10 new features without disrupting existing functionality
- Develop comprehensive integration testing strategy
- Conduct thorough risk assessment for each new feature
- Schedule regular team progress reviews
- KRReduce integration time by 15% without compromising quality control measures
- Implement efficient software for quicker integration processes
- Provide adequate training on speedy integration strategies
- Streamline workflows to minimize integration steps
OKRs to successfully launch a new product
- ObjectiveLaunch a successful new product
- KRAchieve 70% retention rate
- KRGenerate 500 leads from press push
- KRGenerate $500k in new revenue
- KRIncrease active user base to 10K
OKRs to drive 110% growth in MRR for our new product
- 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
New Product OKR best practices
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tip #2: Commit to weekly OKR check-ins
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
Being able to see trends for your key results will also keep yourself honest.
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
Save hours with automated OKR dashboards
Your quarterly OKRs should be tracked weekly if you want to get all the benefits of the OKRs framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Spreadsheets are enough to get started. Then, once you need to scale you can use Tability to save time with automated OKR dashboards, data connectors, and actionable insights.
How to get Tability dashboards:
- 1. Create a Tability account
- 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
- 3. Publish your OKR plan
That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.
More New Product OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to successfully complete project within the allotted time frame
- OKRs to position Nordstrom as the ultimate hub for brand discovery
- OKRs to implement efficient governance for internal communications and editorial
- OKRs to establish insightful scientific mentoring program for laboratory procedures
- OKRs to improve promotion and sponsorship package development
- OKRs to drive company transformation through HR technology and leadership model redesign