2 customisable OKR examples for Premium Collection
What are Premium Collection OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.
We've tailored a list of OKRs examples for Premium Collection to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Premium Collection OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Our customisable Premium Collection OKRs examples
You will find in the next section many different Premium Collection 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!
1. OKRs to drive premium collection rate to 95% for improved investment income
Drive premium collection rate to 95% for improved investment income
Achieve steady growth in monthly investment income by 5%
Increase monthly investment amounts by 5%
Regularly rebalance portfolio based on market trends
Diversify investment portfolio in various growth-oriented sectors
Reduce outstanding premium payments by 20%
Implement automated payment reminders for customers
Offer incentives for early or regular payments
Develop convenient digital premium payment options
Increase monthly premium collection rates by 15%
Conduct premium audits to identify inaccuracies
Implement an effective reward program for consistent payers
Send reminders before each payment's due date
2. OKRs to boost our premium collection rate next quarter
Boost our premium collection rate next quarter
Reduce premium payment late instances by 15% by enhancing reminder protocols
Implement automated email reminders for premium payment due dates
Introduce a mobile app with push notification reminders
Set up text message alerts for upcoming payments
Achieve a 10% increase in premium collections by improving payment processing system
Research and incorporate more payment options
Implement more efficient automated systems for payment collection
Train staff on improved payment processing procedures
Attain a 5% rise in premium upgrades through targeted promotional campaigns
Identify demographics most likely to upgrade premium services
Examine campaign analytics and adjust as necessary
Develop a targeted promotional campaign for identified demographics
Premium Collection OKR best practices to boost success
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
The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the 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.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/tability-insights-board.e70f9466.png)
Tip #2: Commit to weekly OKR check-ins
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.
Being able to see trends for your key results will also keep yourself honest.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/checkins-graph.b2aec458.png)
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.
How to turn your Premium Collection OKRs in a strategy map
The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. 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 a proper OKR platform to make things easier.
![A strategy map in Tability](https://tability-templates-v2.vercel.app/_next/static/media/tability_strategy_map.2ad25843.png)
If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Premium Collection OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to ensure optimal functionality of database servers through routine checks
OKRs to improve overall HR efficiency and employee satisfaction
OKRs to increase active members count from 5 to 100
OKRs to successfully raise $2M at an upcoming fundraising event
OKRs to enhance research and response strategies for agency requests
OKRs to streamline vendor aging reconciliation and payment processes
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
What's next? Try Tability's goal-setting AI
You can create an iterate on your OKRs using Tability's unique goal-setting AI.
Watch the demo below, then hop on the platform for a free trial.