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OKR Go - How to set goals that work

Regan Davis
June 07, 2022
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OKR Go - How to set goals that work

An overview of Objectives and Key Results, and how to write / check-in on them.

Regan Davis

June 07, 2022
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Transcript

  1. objectives + key results regandavis.com okr I will achieve ______________

    as measured by _____________. (credit: John Doerr, Measure What Matters) (goals + measurements)
  2. —Marissa Mayer, former CEO of Yahoo “If it doesn’t have

    a number, it isn’t a key result." regandavis.com
  3. regandavis.com objective Create an Awesome Customer Experience How would we

    know if we created an awesome experience? ? (credit: Felipe Castro)
  4. regandavis.com objective key results Create an Awesome Customer Experience Increase

    Repurchase Rate from X to Y Improve NPS promoters from X to Y
  5. 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? ?
  6. 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%
  7. 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?”
  8. regandavis.com Rule the Galaxy Too Many Jedi Unknown Rebellion Problems/

    Opportunities Ideas Moon Shaped Superweapon! Empire Goal
  9. regandavis.com Rule the Galaxy Too Many Jedi Unknown Rebellion Moon

    Shaped Superweapon! Empire Goal Problems/ Opportunities Ideas Strike Fear Planet Destroying Superweapon!
  10. 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
  11. 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
  12. regandavis.com makes the team stretching • rethink the way they

    work • ask hard questions • have difficult conversations before building
  13. Monthly Quarterly Bi-weekly • Cross-team Strategy • Craft Quarterly OKRs

    • Planning Session • OKR check-in • Team meeting • Proceed or Pivot
  14. Key Result Conf Score Activities Increase # New Subscribers /mo

    (from 10k to 15k) 0.50 0.30 Price test, Referral Bonus test Improve % of Recurring Purchases (from 5% to 15%) 0.35 0.40 Email marketing campaign, Fire Phone Shorten browsing experience (from 10 clicks to 3 clicks) 0.80 0.55 Checkout flow redesign, recommendation o Surge Repeat Purchasers regandavis.com
  15. 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