Product Managers OKR Examples

product managers OKR

Product management plays a key role in turning strategic goals to business outcomes. The product manager is responsible for defining the when, why and what of the product that the engineering team builds. This means leading cross-functional teams from product conception to launch. The product manager is therefore responsible for setting the vision and strategy of a product.

The OKRs for a product manager should be defined in such a way that they inspire teams to work with more focus and passion. Defining OKRs for product managers is challenging considering that they can be drawn to the engineering side, sales side or marketing side. Hence they should be defined based on the stage of the life cycle the product manager fits in.

This step by step guide will set the basis for integrating the OKRs with that of product management which is essentially the responsibility of the product manager

Sample OKRs For Product Managers

Objective – Rapport Building

Key Result 1: Speak to at least 5% customers to determine how our products are of service to them
Key Result 2: Attain atleast 5 references per month for fresh sales

Key Result 3: Conduct a survey with the top 15% of the customers to ensure retention every 6 months

Objective – Activate User Testing Of Product

Key Result 1: Launching version ___(improved version) of product by ___ (month) quarter end
Key Result 2: Get product reviews published in over 10 publications
Key Result 3: Achieve sign up to trial ratio of over 25%

Key Result 4: Achieve trial to paid ratio of over 40%

Objective – Satisfying Existing Enterprise Clients To Lay The Foundation For Contract Renewals

Key Result 1: 0 major incidents per client (incidents such as loss of data, bugs, irreparable defects)
Key Result 2: Specific feedback for every requested/ implemented feature which gets used by the client every quarter
Key Result 3: Establish a feedback process for enterprise clients and receive feedback of atleast 75% satisfaction

OKRs Related To Product Quality

Objective – Identify Existing Problems In The Current Version Of The Product

Key Result 1: Run quality assurance of all features in real time
Key Result 2: Make a checklist of all issues causing a time lag

Key Result 3: Identify areas that cause product lags of more than 45%

Objective – Improve Product Performance

Key Result 1: Eliminate 85% bugs
Key Result 2: Incorporate atleast 2 new tools to improve performance
Key Result 3: Reduce product processing time to 35%

OKRs Related To Product Planning

Objective – Deliver Innovation That Gives A Competitive Edge

Key Result 1: Increase development resources assigned to innovation from 15 to 30%

Key Result 2: Review atleast 5 competitor’s products every month instead of once in a quarter

Objective – Implement New 360 Degree Product Planning Process

Key Result 1: Document clear role division between research, design and development, sales and marketing
Key Result 2: 100% documentation input from sales, marketing, design and production

Key Result 3: Integrate 50% user testing into pre launch testing phase

Objective – Launch The Product By The End __________ (Time Frame)

Key Result 1: 40% increase in pre booking for new product by _______(Time frame with respect to launch date)
Key Result 2: 70% increase in enquiries about new product every quarter
Key Result 3: 60% demos to be given to prospective customers at the negotiation stage

OKRs Related To Product Performance

Objective – Research, Analyze And Understand What Users And Non Users Think

Key Result 1: Ensure design team conducts 30 web based user testing sessions
Key Result 2: Co-ordinate with product management team to interview 25 non users
Key Result 3: Follow up with support team to conduct 50 interviews with churned account holders
Key Result 4: Ensure sales team conducts 50 phone interviews with key accounts

OKRs With Reference To Reportees/Teams Working Towards Product Delivery

 

Objective – Evaluate Training Needs Of Reportees

Key Result 1: Review training schedules of all reportees every month
Key Result 2: Conduct brainstorming sessions every month to assess training needs

Key Result 3: Ensure 100% completion of all training programs assigned to all reportees every quarter

Objective – Ideate For New Product

Key Result 1: Seek feedback for new features and product from top 30% customers
Key Result 2: Create a poll to shortlist top 5 exemplary features in competitors products
Key Result 3: Submit weekly reports regarding feedback obtained and changes incorporated for new product if any

 

Objective – Improve The Team Members Engagement And Job Satisfaction

Key Result 1: Arrange for 1 motivational speaker every month
Key Result 2: Interview 15% of the reporters to understand any underlying issues/request for suggestions every month
Key Result 3: Review OKRs of individuals every quarter
Key Result 4: Conduct 360 degree survey every 6 months
Contributing Author
Keka Editorial Team

A bunch of inspired, creative and ambitious youngsters- that’s Keka’s editorial team for you. We have a thirst to learn new subjects and curate diverse pieces for our readers. Our deep understanding and knowledge of Human Resources has enabled us to answer almost every question pertaining to this department. If not seen finding ways to simplify the HR world, they can be found striking conversations with anyone and everyone , petting dogs, obsessing over gadgets, or baking cakes.

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