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tability.ioWhat are Referral Program 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.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
We've tailored a list of OKRs examples for Referral Program 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.
Referral Program OKRs examples
You'll find below a list of Objectives and Key Results templates for Referral Program. 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 increase number of signups through referral program
ObjectiveIncrease number of signups through referral program
KRLaunch an incentivized referral program resulting in 15% more referral signups
Monitor, track, and optimize referral program regularly- Develop a structured, appealing referral program
- Promote incentive referrals through engaging marketing campaigns
- KRBoost referral signups by 20% compared to last quarter's numbers
- Implement a reward system for successful referrals
- Launch a referral-focused email marketing campaign
- Improve visibility of referral program on website
- KRImplement a system for tracking each referral signup accurately
- Test the system thoroughly and adjust for accuracy
- Identify suitable tracking software for referral signups
- Set up the tracking system for accurate data collection
OKRs to improve user acquisition through targeted referral programs
- ObjectiveIncrease user acquisition through targeted referral programs
- KRAnalyze referral data to optimize and improve future campaigns
- KRLaunch 3 new referral campaigns with personalized incentives
- KRIncrease referral conversion rate by 20% through A/B testing
- KRAchieve 50% growth in referred users compared to last quarter
OKRs to develop a new in-product referrals program
- ObjectiveDevelop a new in-product referrals program
- KRImprove onboarding of referred users to keep conversion above 40%
- KRGet 3 referrals per customers on average across all accounts
- Identify opportunities for network effects
- KRGet 60% of new customer accounts to refer at least one other customer
- Add referral step in the onboarding drip feed
- Create incentive to reward customers for referring users
OKRs to increase player base by 20%
- ObjectiveIncrease player base by 20%
- KRPartner with an influencer with a gamer following to enhance brand exposure
- Collaborate on brand-promotion content for influencer to share
- Reach out to chosen influencer for potential partnership agreement
- Identify relevant influencers with a substantial gamer following
- KRDevelop and roll out a referral program to acquire 1000 new players
- Design a referral program incentivizing current players to invite friends
- Implement a marketing campaign promoting the referral program
- Test the referral program on a smaller sample first
- KRLaunch two engaging marketing campaigns on social media platforms
- Design and create compelling visuals for each marketing campaign
- Schedule and post campaigns on desired social media platforms
- Establish target demographics and optimize content for them
OKRs to boost revenue from existing customer base
- ObjectiveBoost revenue from existing customer base
- KRImprove repeat purchase rate by 10% by enhancing customer service initiatives
- Offer personalized customer support for product inquiries
- Introduce a loyalty program incentivizing repeat purchases
- Implement post-purchase follow-up communication
- KRRaise average order size by 15% through strategic upselling efforts
- Train staff on effective and personalized upselling techniques
- Introduce tiered pricing to incentivize higher spending
- Implement product bundling to encourage larger purchases
- KRImplement incentive program to increase referrals leading to actual purchases by 20%
- Develop a compelling referral incentive program
- Promote the referral program through various channels
- Track and measure program's impact on purchases
OKRs to boost subscription to AI Quick Bytes newsletter
- ObjectiveBoost subscription to AI Quick Bytes newsletter
- KRSecure partnerships with 5 industry influencers for promotional activities
- Identify and create a list of potential industry influencers
- Finalize and sign partnership agreements with chosen influencers
- Approach identified influencers with a partnership proposal
- KRImplement a referral program with incentives increasing subscriptions by 20%
- Develop an incentive structure to motivate referrals
- Set up a system for tracking referrals and rewarding users
- Communicate referral program to existing subscribers
- KRLaunch 3 social media campaigns to reach a minimum of 20,000 potential subscribers
- Create detailed, engaging content for three social media campaigns
- Initiate and monitor the social media campaigns
- Identify and target 20,000 potential subscribers
OKRs to boost trading volume by 30%
- ObjectiveBoost trading volume by 30%
- KRRaise daily active traders by 25% to increase overall trading activity
- Enhance user interface for smoother trading experience
- Implement engaging training webinars for potential traders
- Launch a referral incentive program for current active traders
- KRIncrease daily trades per active trader by 10% by enhancing trading platform UX/UI
- Implement recommendations for UX/UI enhancements
- Monitor and evaluate trading activity post-implementation
- Perform user testing for existing trading platform UX/UI
- KRImplement a referral program resulting in a 15% trader increase
- Create a marketing campaign promoting the program
- Develop criteria for customer referral rewards program
- Integrate referral system into current trading platform
OKRs to attain fifteen new customers
- ObjectiveAttain fifteen new customers
- KRIntroduce a referral program to encourage 5 existing customers to bring in new ones
- Track the number of referrals from the program
- Clearly communicate the referral program to current customers
- Develop a rewarding referral program for existing customers
- KRImplement a targeted marketing campaign to attract 50 potential leads
- Create engaging, personalized advertisement content for chosen platforms
- Identify target audience based on product/service relevance and market trend
- Track and analyze campaign progress daily, making adjustments as needed
- KRConvert 30% of leads into active customers through enhanced customer service
- Implement a system that tracks customer satisfaction
- Develop personalized follow-up strategies for leads
- Implement intensive training for customer service agents
How to write your own Referral Program OKRs
1. Get tailored OKRs with an AI
You'll find some examples below, but it's likely that you have very specific needs that won't be covered.
You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.
- 1. Go to Tability's plan editor
- 2. Click on the "Generate goals using AI" button
- 3. Use natural language to describe your goals
Tability will then use your prompt to generate a fully editable OKR template.
Watch the video below to see it in action 👇
Option 2. Optimise existing OKRs with Tability Feedback tool
If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.
- 1. Go to Tability's plan editor
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on "Generate analysis"
Tability's Strategy Map makes it easy to see all your org's OKRsTability 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.
You can then decide to accept the suggestions or dismiss them if you don't agree.
Option 3. Use the free OKR generator
If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.
Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.
Referral Program 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.
How to track your Referral Program OKRs
Quarterly OKRs should have weekly updates to get all the benefits from the 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 a proper OKR platform to make things easier.
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 Referral Program OKR templates
We have more templates to help you draft your team goals and OKRs.