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What are Product Service Management 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 Product Service Management 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.
The best tools for writing perfect Product Service Management 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.
Product Service Management OKRs examples
You'll find below a list of Objectives and Key Results templates for Product Service Management. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.
Hope you'll find this helpful!
OKRs to enhance Product Service Management Efficiency
ObjectiveEnhance Product Service Management Efficiency
KRIncrease product service team training sessions by 50%
Schedule additional training sessions accordingly- Identify current number of weekly training sessions
- Calculate necessary increase to achieve 50% rise
- KRImplement new software to decrease customer response time by 20%
- Purchase, install, and configure the identified software
- Identify software capable of enhancing customer service response speed
- Train customer service representatives on new software usage
- KRImprove customer satisfaction rate on product services by 30%
- Update and upgrade product based on customer feedback
- Establish a fast and effective complaint resolution procedure
- Implement regular training programs for customer service staff
OKRs to successful transition from Service Delivery Manager to Product Manager
- ObjectiveSuccessful transition from Service Delivery Manager to Product Manager
- KRDevelop and present a new product idea or actionable improvement to the team
- Conduct thorough market research and analyze potential customer needs
- Prepare and deliver a persuasive presentation to the team
- Develop a comprehensive product concept or improvement proposal
- KRGain foundational knowledge completing a Product Management certification by quarter-end
- Schedule study sessions to complete coursework
- Enroll in chosen Product Management course
- Research suitable Product Management certification programs
- KRShadow experienced product managers and attend at least 20 hours of PM meetings
- Schedule time blocks to observe PM meetings
- Attend minimum 20 hours of PM meetings
- Identify experienced product managers to shadow
OKRs to increase overall sales productivity for our offshore IT services team
- ObjectiveIncrease overall sales productivity for our offshore IT services team
- KRAchieve a 20% increase in quarterly revenue from offshore IT services
- Upsell enhanced IT services to existing offshore clients
- Implement targeted marketing strategies in offshore jurisdictions
- Streamline delivery process to boost operational efficiency
- KRReduce the sales cycle duration by 15% for offshore IT services
- Implement streamlined communication systems for improved efficiency
- Provide sales team advanced negotiation training
- Close deal gaps with efficient project management strategies
- KRClose 5 new strategic B2B deals specifically for offshore IT services
- Identify and contact 10 potential B2B partners for offshore IT services
- Follow-up with potential partners to negotiate and close deals
- Prepare and deliver tailored presentations on our offshore IT services
OKRs to foster customer-centric innovation in products and services
- ObjectiveFoster customer-centric innovation in products and services
- KRDevelop and launch two new features based on customer feedback
- Develop the two most requested features
- Plan and execute a launch strategy for new features
- Analyze customer feedback for new feature suggestions
- KRConduct 4 customer focus groups to gather insights for future developments
- Schedule and conduct the four focus groups
- Identify and recruit suitable participants for focus groups
- Design relevant discussion topics for each group
- KRAchieve a 10% increase in customer satisfaction scores
- Provide in-depth training for customer service staff
- Incorporate a post-service satisfaction survey
- Implement a loyalty rewards program for frequent customers
OKRs to enhance intelligent product recommendation engine for improved customer matching
- ObjectiveEnhance intelligent product recommendation engine for improved customer matching
- KRIncrease recommendation engine's accuracy by 25%
- Regularly update and test recommendation algorithms
- Gather more user data for detailed user profiles
- Implement machine learning algorithms for better prediction accuracy
- KRBoost product sales via recommendations by 20%
- Enhance recommendation algorithms for personalized suggestions
- Implement a referral program incentivizing existing customers
- Partner with influencers for strategic product promotions
- KRRaise customer satisfaction with recommendations by 30%
- Implement feedback system for product or service improvements
- Enhance customer service training for personalized interaction
- Develop more accurate, predictive recommendation algorithms
OKRs to increase overall team performance
- ObjectiveIncrease overall team performance
- KRImprove team productivity by 20% without affecting work quality
- Review current workflows for potential process optimization improvements
- Introduce time management training resources to enhance work efficiency
- Implement new collaboration software for easier communication
- KRIncrease customer satisfaction related to our performance by 15%
- Develop and execute a streamlined customer complaint resolution process
- Implement regular, focused customer service training for employees
- Actively solicit customer feedback and make necessary adjustments
- KRAchieve a 10% reduction in task completion times
- Identify inefficiencies in current workflow processes
- Automate repetitive tasks to save time
- Implement training programs to improve skill levels
OKRs to deliver personalized customer experience and satisfaction
- ObjectiveDeliver personalized customer experience and satisfaction
- KRDecrease customer complaint rates by 15% through streamlined product/service delivery
- Develop and optimize efficient delivery mechanisms
- Implement comprehensive staff training for improved customer service
- Regularly gather customer feedback to identify improvement areas
- KRIncrease customer satisfaction score by 20% through improved customer relationship management
- Implement regular, personalized follow-ups with customers
- Provide staff with comprehensive CRM training
- Develop a responsive and efficient complaint resolution process
- KRImplement 2 new unique features based on customer feedback to enhance user engagement
- Analyze customer feedback to identify potential new features
- Roll out new features and monitor user engagement
- Develop and test 2 new features based on findings
Product Service Management 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
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
We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using 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 Product Service Management OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to identify future areas of primary effort and improvement
- OKRs to implement AI to streamline documentation search and maintenance process
- OKRs to increase the customer return rate
- OKRs to enhance overall employee engagement across the organization
- OKRs to improve quarterly communication by ensuring consistent check-ins with performance manager
- OKRs to optimize pricing strategies for increased revenue and market share