objectives + key results regandavis.com okr I will achieve ______________ as measured by _____________. (credit: John Doerr, Measure What Matters) (goals + measurements)
regandavis.com objective key results Create an Awesome Customer Experience Increase Repurchase Rate from X to Y Improve NPS promoters from X to Y Is there something we should be careful of? ?
regandavis.com objective key results Create an Awesome Customer Experience Increase Repurchase Rate from X to Y Improve NPS promoters from X to Y Maintain CAC under Y%
regandavis.com Tiers of Goals Definition Example Outcome Changes in user behavior Go from 2% parking 4x/mo to 5% Traction Usage based goals. Usage of ‘Quick Rebook’ goes from 10% to 20% Multi-Step Delivery Incremental progress of a feature Go from 40 to 50 codebases migrated to our v2 API Delivery Binary output goals Ship the Autoplay feature. getting better at goal writing “so what?”
regandavis.com Rule the Galaxy Kill the Jedi Quash the Rebellion Strategic Objective Team OKRs Strike Fear into Hearts of Many • Kill 98% of all Jedi • Search Feelings 3x a week • Choke 2 Admirals • Find 3 Rebel Bases • Launch 100 probes • Keep Bounty Hunter costs below 15% of budget • Increase Taxes from 10% to 60% • Destroy at least 1 planet • Ensure 95% compliance with Imperial Brand Guidelines
Strategy / Product Team Key Result “Instant” shipping % of orders fulfilled within 2d / 1d / 2h Memberships & discounts % of visitors subscribing to Prime within 1 week Personalization % of recommended items added to cart New content experiences % of users finishing purchased e-books, videos New devices % of users engaging with device 3x / week regandavis.com
Category Universal Objective Example OKR Example Initiative Future Innovation (Hard to copy advantage) Support the product’s core value O: Reduce the effort to find an airport parking spot KR: 20% of buyers book w/in 3 clicks, conv rate +10% Search cards, rec engine, spot details overhaul, site speed Create barriers to competition Rec engine, dynamic pricing, Homer Marketplace Monetization (Delight Customers) Grow market share O: Win the search game against competitors KR: Rank in the top 3 SEO results for 100 most common location terms Midfunnels, site speed, Load prices into SEO/ SEM ads Fulfill more demand KR: Reduce % of searches with <5 results from 10% to 5% Alt Supply in emerging markets, list multiple spots at a site Develop new markets KR: Gain 5% of operator inventory in “emerging market” cities Homer, DAPHNE, alt supply Improve recurring revenue (Engagement) KR: Increase repurchase rate to 65% Pre-payment, quick rebook, initial post- purchase promotion Operational Efficiency (Margin Enhancing) Support higher prices KR: Double customer fee across 10 cities while... KR: Maintaining order volume >5% Fees rollout, checkout conv flow updates Improve LTV KR: Increase LTV +30% for mobile KR: 10% of monthly parkers add +1 Transient park Quick rebook Discount, subscription Lower costs KR: Reduce per-partner development effort by 50% (while growing operator rev $1M) Publish partner API Leverage existing assets KR: Shift 30% of web searches to internal API KR: Simplify data pipelines -- reduce from 3 to 1 Search v2 Refactor data pipelines universal OKRs
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