Increase Annual Recurring Revenue
In this video, we’ll write an OKR to “Increase Annual Recurring Revenue”. Having an OKR that targets such an important measurement for a sales department is a great way to bring the team together under one goal and focus efforts throughout the quarter.
The specific key results we can use to make this objective a reality are:
- Increase lead to sales conversion from 20% to 40% (increase lead conversion to sales)
- Revamp customer acquisition process (milestone tracked customer acquisition process)
Increase annual renewals from 75% to 90% (increase annual renewals)
Let’s input this first key result into the Profit.co software.
After adding your objective, use the form to input the key result “increase annual renewals from 75% to 90%”.
First select the key result type from the drop down menu. Because this is a metric-based key result with a value we’d like to increase, we’ll select “increase KPI” from the drop down menu. Choose a KPI by pressing “Search & Select KPI”. This will open a pop up where you can search your KPI by name, or browse through KPI categories and select from the provided list.
Select a target date for completing your key result.
Then, modify your chosen KPI values to fit your specifications. In this case, we’ll be increasing annual renewals from 75% to 90%.
Based on the information you provide, the form will build a title for you. Make any necessary modifications, or add any desired context.
Then, you can indicate if you’d like to assign this key result to a specific employee by pressing the “Search & Select Assignee” button. You can search for an employee, team, or department using the search bar, or browse using the catalogue.
Finally, select the frequency with which you would like to complete check-ins, and press “Create”.
Now you have a substantive key result that can help make a real impact on your aspirational objective. Here are the other key results you can use to make progress.
Keeping in mind that key results must be specific and impactful in order to fully effect your objective and progress your goal is essential to remember in any field– especially in Sales, as the bottom line is important, and moving product or services is the backbone of the company.
Other Sales OKRs Examples
- → Increase User Base
- → Build Strategic Partnerships and Channels
- → Increase Inbound Demo Success
- → Strengthen Pre-Sales Process
- → Create Customer Content to Help Sales/Support
- → Strengthen Sales Team
- → Establish Active Resellers Channel
- → Increase Customer Engagement
- → Build a Robust Demo Pipeline for Americas