Marketing OKR Examples
The marketing department lies right in the middle of the sales, operations and customer service departments. The department is at a position where it can bring in leads, increase retention of leads and reduce churn. A good marketing mix consists of organic and paid – both of which have their own benefits and downfalls.
Organic and paid work hand in hand to fulfil objectives that are assigned to each. Each channel has its own core features in terms of reaching the target audience and exciting them.
How can Marketing OKRs improve the marketing team’s performance?
OKRs are crucial in the Marketing department as they are the direct link to the customers. Other teams depend on the marketing department as they are the key to promoting product launches. Setting OKRs in the department can improve the marketing team’s performance by:
- Bringing in more revenue
- Driving business results through effective marketing strategies
- Aligning marketing efforts with customers
- Connecting Marketing OKRs with other teams
- Improving organizational output
Bringing in more revenue
Since the organization’s ROI is linked to the results achieved by the marketing department, OKRs help focus and achieve the primary goals. With clearly set goals and measuring results, it can avoid the pressure of delivering low. Hence, working towards the OKRs helps generate revenue as they maximize the efforts of all the team members.
Driving business results through effective marketing strategies
Sometimes, it’s difficult trying to identify the strategies or tactics that can deliver business results. When OKRs are effectively implemented, they shift the focus from boosting just numbers to working on things that matter. They ensure that the strategies are aligned with the business strategy. Since the marketing department has many focus areas, OKRs help with focusing on ‘why’ for each result.
Connecting Marketing OKRs with other teams
The activities of the marketing team are interlinked with other teams like sales, customer success, and product teams. Without aligning the objectives with other departments, there will be no transparency and any initiative adopted will ultimately lead to failure. Communicate the Key Results with other teams and connect their initiatives with the team.
Aligning marketing efforts with customer satisfaction
When the marketing team collaborates effectively with other related teams, it can increase customer satisfaction by designing marketing-focused initiatives. Collaborative OKRs help identify the issues when it comes to demand generation and brand management.
Improving organizational output
Instead of just focusing on immediate outputs, marketing OKRs help measure the impact of the result achieved. When outputs are measured and optimized, they become long-lasting outcomes.
Here Are Some Of The Broad Goals Of The Marketing Department
|1. Increase revenue: Revenue is a direct proportion of visibility and share of voice in the market. Revenue generated via a strong marketing mix is said to be sustaining and long-lasting.|
|2. Generate leads: Leads is a real-time measurement of marketing effectiveness for the top of the funnel activity. Once a lead qualifies as being high-quality it becomes a marketing-qualified lead (MQL)|
|3. Reduce churn: Churn is a negative metric for a company as it means customers are leaving dissatisfied. Marketing’s role is to understand why and then solve that problem.|
|4. Improve brand recall: The marketing department, via repetition and targeted ads, can increase brand recall via logo, branding or social media for example. Higher the brand recall, higher the chance that a customer will remember you when they require that particular service.|
|5. Launch new products/solutions: Product marketing teams are given this responsibility to ensure that existing customers know of new launches and at the same time, new ones are brought into the funnel.|
|6. Build a community: If you are aiming to be a well-known brand, you have to build a set of people around your product or service who are not just loyal but also have an affinity towards your brand.|
Marketing Department Org Structure:
The marketing department is split into organic marketing and paid marketing as major segments. Organic marketing is involved in brand building, interacting with leads and customers, educating customers on capabilities- so on and so forth. It’s more to do with brand and awareness in the funnel.
Paid marketing is, however, placing your bets on audiences you know will convert. It’s more of a ‘push’ than pull strategy. It focuses on the audience taking action based on accurate targeting.
Organic Marketing OKRs:
The players for these OKRs would be Content Marketers, Social/Digital Marketers and their Marketing Managers.
Objective – Launch A New Product And Build Buzz Around It
|Key Result 1: Create and implement a go-to-market strategy within 15 days for the next 6 months|
|Key Result 2: Build 3 weeks of themed collateral to build awareness, educate and inform the customer of why our offering is the best option. This will be used on social and the website|
|Key Result 3: Host 3 community-based events in this quarter concerning this product launch|
Objective – Grow Digital Presence Organically
|Key Result 1: Publish 5 blogs with appropriate SEO keywords every week|
|Key Result 2: Change website banners every 10 days to indicate product features and strengths|
|Key Result 3: Maintain a 4:1 onsite “Interview Offer” ratio|
|Key Result 4: Gather 5 backlinks a month from high DA websites|
Objective – Improve Website Metrics
|Key Result 1: Increase sessions by 20% in the next 3 months by posting relevant content and securing guest posts|
|Key Result 2: Increase unique visitors to the website by 15 every month|
|Key Result 3: Reduce bounce rate by 2% ever quarter|
|Key Result 4: Increase time spent on site by 1% every month|
|Key Result 5: Achieve a target of 10 leads a week on the website|
Objective – Encourage Brand Awareness Via Email Campaigns
|Key Result 1 : Send 2 newsletters a week with product updates and launches starting T-15 weeks to launch|
|Key Result 2 : Build and grow the email list via organic channels by 30% month over month|
Key Result 3 : Engage the audience for a 10% CTR on email CTA’s.
Objective – Build Brand Awareness So That We Are Tip-Of-Tongue For The Segment
|Key Result 1 : Create 5 swag branded items to be sent to the top 100 customers|
|Key Result 2 : Engage 3 influencers every week for branding and marketing activities|
|Key Result 3 : Take part in 4 community events every quarter|
|Key Result 4 : Publish 5 blogs on relevant magazines – online and physical|
Key Result 5 : Secure 10 speaking engagements for top management every year.
Objective – Build And Maintain A Presence On Social Media Channels To Engage With Our Audience
|Key Result 1 : Increase followers by 200 every month on Facebook and Instagram, 50 on Twitter and 10 on Linkedin|
|Key Result 2 : Increase organic comments by 5% every quarter|
Key Result 3 : Post share-worthy content once every week.
Objective – Increase Customer Retention By Satisfying And Understanding Their Needs
|Key Result 1 : Ensure customer service is talking to 2 top customers a week for feedback|
|Key Result 2 : Surprise and delight 1 hero customer a month|
|Key Result 3 : Engage biweekly with social media followers and/or customers with a minimum of 5 comments a day|
Paid Marketing OKRs:
The players for these OKRs will be people Ad Marketers and their Marketing Managers.
Objective – Be Present And Visible On Google To Attract And Grow The Audience Segment
|Key Result 1 Plan and manage a budget of 10,000 INR per month, with a 1000 INR increase every month|
|Key Result 2 Maintain cost per acquisition between 150INR -275INR every week.|
Key Result 3 Build a direct-to-sales call funnel with a target of 60 calls a week
Objective – Run PPC Campaigns To Further Push Our Website And Content To Target Audience
|Key Result 1 Optimize campaigns for a minimum of 500 clicks a week from|
|Key Result 2 Track and monitor ad quality score to be in the range of 6-8+ every month|
|Key Result 3 Reduce cost per click by 10% month over month by optimizing and narrowing funnel|
|Key Result 4 Increase CPM/impression metrics by 15% every quarter|
Objective – Target Our Potential Customer Base On Social Media
|Key Result 1 Run and optimize campaigns for branding with a CPC of 5INR|
|Key Result 2 Keep track of relevancy score on Facebook ads manager, aim to maintain a score of 7+|
|Key Result 3 Key Result 3 Promote top 20% of organically performing posts for reach and website visits|
|Key Result 4 Increase purchases from sponsored ad by 10% every quarter|
Marketing OKRs focus roles
Social Media Marketing
Objective: Increase the company’s visibility on LinkedIn
Key Result 1: Add 10,000 followers to the LinkedIn page by the end of Q2
Key Result 2: Share 2 video content pieces per month
Key Result 3: Work with at least 5 influencers every month
Search Engine Optimization
Objective: Increase page’s visibility
Key Result 1: Increase monthly unique visitors by 30%
Key Result 2: Achieve #1 place for top 10 relevant keywords
Key Result 3: Increase the referral traffic by 50%
Objective: Improve engagement by creating new content
Key Result 1: Publish 10 blogs
Key Result 2: Increase website visibility on SERPs by 75%
Key Result 3: Add 35 new inbound links from third-party websites
Objective: Enhance brand positioning
Key Result 1: Engage with 20 new customers
Key Result 2: Launch new ad campaigns and reach 500K viewers
Key Result 3: Conduct 5 webinars per month with 100+ participants
Objective: Increase the number of inbound leads to the site
Key Result 1: Increase the weekly unique visitors from 20K to 40K
Key Result 2: Decrease the bounce rate by 30%
Objective: Increase website conversion
Key Result 1: Gain 400 new signups in 1 month
Key Result 2: Convert 1000 new paid customers in 2 months
Key Result 3: Attract new 500 qualified leads
Product Marketing Management
Objective: Increase awareness of new feature launch
Key Result 1: Conduct 20 sessions for testing
Key Result 2: Use content pieces and test with 5 users
Key Result 3: Generate signups of 100
Objective: Launch a Product hunt campaign
Key Result 1: Post promotional videos on LinkedIn and Twitter page
Key Result 2: Gain 10K followers
Key Result 3: Have 20 influencers post on LinkedIn
OKRs are the key to increasing performance in any department. For the marketing department, it is crucial to align its objectives with other departments. The most ambitious goals can be reached when they are measured, tracked, and quantified.