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Product Management OKR Examples

6 min read
Product Management OKR examples

Why choose OKRs for your product team

OKRs or Objectives and Key Results are a collaborative goal-setting tool used by product management teams to set challenging, ambitious goals with measurable results. OKRs are how you track progress, create alignment, and encourage engagement around measurable goals.

OKRs can be a superpower for creating an environment where employees are able to work with purpose. Product management teams at companies like Intel, LinkedIn and Airbnb have achieved amazing results with OKRs, but less often discussed is the fact that deploying a goal framework in the right way can create a vastly better working environment.

The OKR methodology is very simple, and when used properly, OKRs can help your product team create things like high output management, team alignment and increased communication in all your business goals.

Writing and implementing OKRs for your product management team

When it comes to creating and writing incredible OKRs consider the following formula: 

 

 

Designed to fit the needs of any organization size, department or industry, OKRs work the same for setting goals throughout many company levels. They can also be used by individuals or small teams to achieve results.

Objectives need to be clear, actionable and (ideally) inspiring, while also actionable and time-bound. 

Key results determine whether an Objective has succeeded or failed. They are quantifiable, measurable and time-bound, so that it's easy for the team to gauge progress. Contributors on the KRs should measure progress regularly (ideally weekly), and then at the end of the OKR period (typically a quarter), there’s a regular grading of the KR and retrospective. 

When it comes to writing and setting OKRs, it's a good idea to make it collaborative. By conducting a brainstorming session, it engages your product management team, gives your team a level of ownership and drives accountability for those results.

Ultimately, you want to create a process where teams feel empowered to create their OKRs and then challenge teams across the business to ensure they’re focused on the right priorities at the right time. This process encourages creative thinking and informed risk-taking, all to push your product management team forward.

Product management OKRs: Best practices and examples

When getting started with product management OKRs, we get common questions like “how do I write a good PM OKR?” or “can you give me a good example of a project management OKR?” To answer these questions, we created a list of example project management OKRs so you can have some inspiration as you begin to write your own company, department, and team OKRs.

 


 

Product Management OKRs for product launches

 

Objective: Successfully launch the new product

Key result 1: Conduct 30 customer development interviews

Key result 2: Review 10 usage videos via UserTesting.com and summarize it internally

Key result 3: Do 2 training sessions on the new product for marketing and sales teams

Key result 4: Review 15 customer requirements documents from product marketing

 

Objective: Develop a new product vision

Key result 1: Interview 50 prospective customers and get their initial feedback

Key result 2: Get usability score above 8/10 on UX mockups from 20 prospective customers

Key result 3: Specify 5 elements in UX mockups to increase product's usage engagement

Key result 4: Get internal feedback score of 10/10 from the sales team

 


 

Product management OKRs for user research
 

Objective: Find product market fit for Scorpio

Key result 1: Conduct a design sprint to generate and test the solution

Key result 2: Validate new design patterns with 15 existing customers

Key result 3: Conduct 15 problem interviews with buyers that match our ideal customer profile (ICP)

 

Objective: Implement thorough user testing of our product

Key result 1: Conduct 15 live usability testing interviews with the paper prototype

Key result 2: Receive 10 video interviews from Usertesting.com

Key result 3: Integrate user testing into the pre-launch plan

 


 

Product Management OKRs for development and design 

 

Objective: Increase the delivery speed of the new features

Key result 1: Increase the sprint team velocity from 27 to 35 points

Key result 2: Reduce bugs-per-feature metric from 1.4 to .8

Key result 3: Reduce average lead time from product feature definition to delivery by 7 weeks


Objective: Make our product management team even better

Key result 1: Develop and implement performance metrics for the team

Key result 2: Increase unit-test coverage from 40% to 50%

Key result 3: Reduce the deployment time from 20 mins to 2 min with automated CI/CD

 


 

Product management OKRs for release management

 

Objective: Conduct a successful Scorpio product launch

Key result 1: General availability of the product by XX date

Key result 2: Achieve > 40 successful beta tests as measured by reviews of 4pts or more per tester

Key result 3: Launch product with 90%+ of target features

 

Objective: Improve the product release process

Key result 1: Reduce bugs found after the release by 30%

Key result 2: Reduce the sign-up flow churn from 35% to 10%

Key result 3: Improve the App Store rating of the new version from 4.0 to 4.5

Key result 4: Improve NPS from 8.0 to 9.5

 


 

Product management OKRs for engagement and customer satisfaction

 

Objective: Drastically improve user onboarding

Key result 1: Reduce trial abandonment from 42% to 30%

Key result 2: Increase % of users who complete feature completion from 70% to 77%

Key result 3: Improve trial conversion from 27% to 35%

 

Objective: Increase user engagement

Key result 1: Increase 1-month retention from 20% to 40%

Key result 2: Increase average time in the product from 15 to 25 minutes per week

Key result 3: Increase the average number of product page views from 8 to 10 per week

 

Objective: Improve customer satisfaction

Key result 1: Improve the NPS score from 8.0 to 9.5

Key result 2: Reduce the number of support tickets per customer/mo from 2.7 to 2.2

Key result 3: Complete >15 phone interviews with the churned clients

Key result 4: Improve overall Capterra rating from 4.4 to 4.6

 

Objective: Accelerate profit per customer

Key result 1: Improve lifetime value (LTV) from $4000 to $5000

Key result 2: Improve upsell/cross sell revenue from 14% to 18%

Key result 3: Reduce churn by 5%

Key result 4: Increase net retention by 4%

Key result 5: Increase the gross profit margins from 65% to 75%

 

Objective: Encourage users to refer our product

Key result 1: Complete and publish 4 new user case studies from top tier clients

Key result 2: Obtain 15 top tier commitments to do private references for prospects and analysts

Key result 3: Obtain 25 new Capterra positive (4.5+ star) reviews

 


 

Product management OKRs for operations and enablement
 

Objective: Increase product team learning

Key result 1: Hold book club meeting and reviews every 6 weeks

Key result 2: Conduct product management training session with 95% participation

Key result 3: Complete 8 knowledge sharing session by team members

 

Objective: Create a dream product team

Key result 1: Increase internal team employee satisfaction score from 7.8 to 9.5

Key result 2: Hold a release celebration event with more than 5 individual shout outs

Key result 3: Implement the new agile delivery and discovery process for 2 teams

 

Objective: Share knowledge of our product team with the community

Key result 1: Release 4 blog articles about our product management and engineering processes

Key result 2: Host 3 local meetups

Key result 3: Obtain 3 speaking slots for product management at industry conferences

How Gtmhub simplifies OKRs for product management teams

At Gtmhub, we’re committed to helping you bridge the gap between strategy and execution. Inspired by the Objectives and Key Results (OKR) methodology, our platform is designed to help you align your teams, improve focus and foster transparency.

Quick-start your OKR journey with ready-to-go OKR templates from our Marketplace or connect with 160+ Integrations to update your OKRs and KPIs automatically to easily make data-driven decisions with our customizable Insights and Dashboards.

Ready to achieve your most ambitious goals? Start a free trial today or book a demo to see Gtmhub in action.

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