Introduction
Businesses and customers are interdependent, and sales build the bridge of loyalty and trust between the two. Trust and commitment are pivotal in keeping the customers loyal and serve as dominoes in spreading the good news. The sales team ties the final knot between the business and the customer, They bring in revenue that aids in the company’s development. Improving sales will have a long-lasting impact on the business.
Deciding what not to do is as important as deciding what to do.
True to the quote, the sales team in any organization plays a significant role in driving the sales of the goods and services of an organization. The sales team’s success depends on achieving targets and breaking boundaries. One of the most successful proven practices used by Intel, Google, and other Tech Giants is OKRs. Objectives and Key Results is a collaborative, goal-setting platform with measurable metrics and can be a backbone of a successful sales team in any organization. Measuring each step of the way will help in creating alignment between the goal and success. Measuring the goals and tracking the performance and progress of the sales team can be possible by setting OKRs. OKRs aren’t just a management tool; they drive individuals to achieve a common organizational goal.
Creating OKRs for the sales team can be crucial, but setting effective, measurable OKRs can overturn the sales team’s success. Each Objective must be inspirational yet attainable, and the Key Result must be quantifiable. The OKRs set for sales will reflect the growth and development of the organization.
Sales OKRs also clearly define the interdependencies with other functions like Marketing, Engineering, and Customer Success and ensure that all the teams are on the same page through a transparent OKR scoreboard that improves collaboration, teamwork, and accountability.
Objective 1: Grow Customer Base
One of the foremost success formulas of a sales team is reading the customer, identifying their needs, and meeting those needs with the goods and services offered by your organization. Having that understanding is not lost on the sales team to make customer-based Sales OKRs as the primary focus.
#1: Customer user base OKRs
Objective
Increase User Base
Target Date: Q3-2020
Visibility: All Employees
Key Results
Increase number of paid users from 400 to 10K
Number of Paid Users Increase inbound lead to sales conversion rate from 6% to 15%
Inbound Lead to Sales Conversion Rate Increase outbound leads from 20 to 130
Outbound Leads #2: Channel Partner Sales OKRs
Objective
Build Strategic Partnerships and Channels
Target Date: Q3-2020
Visibility: All Employees
Key Results
Establish partnership with 5 new consulting firms
Partnership Increase revenue from $10K to $100K through partners
Revenue Establish partnership With 4 Resellers
Partnership #3: Sales Demo OKRs
Objective
Increase Inbound Demo Success
Target Date: Q3-2020
Visibility: All Employees
Key Results
Increase Inbound demo to trial conversion from 0 to 240
Inbound Demo to trial conversion Convert 60% scheduled demos to demo closed for US
Inbound Demos Optimize demo followup process
Demo Followup Process #4: Pre-sales OKRs
Objective
Strengthen Pre-Sales Process
Target Date: Q3-2020
Visibility: All Employees
Key Results
Maintain initial response time of < 5 min for at least 90% of the leads
Initial Response Time of < 5 Min Attend at least one enterprise sales webinar attend in a month
Enterprise Sales Webinar Establish pre-sales knowledge base
Pre Sales Knowledge Base #5: Sales & Marketing Content Management OKRs
Objective
Create Customer-Facing Content to Help Sales/Support
Target Date: Q3-2020
Visibility: All Employees
Key Results
Write 26 promotional posts to help promote the product
Promotion Posts Increase number of product demo videos from 10 to 20
Number of Product Demo Videos Increase number of online reviews from 0 to 15
Number Online Reviews #6: Sales Team OKRs
Objective
Strengthen Sales Team
Target Date: Q3-2020
Visibility: All Employees
Key Results
Decrease average time taken to convert a prospect into a customer from 18 to 10 days
Average Time Taken Conduct at least one training program per month
Training Program Establish sales process
Sales Process #7: Channel Management OKRs
Objective
Establish Active Resellers Channel
Target Date: Q3-2020
Visibility: All Employees
Key Results
Generate 500 demos from channel partners
Demos From Channel Partners Close 100 deals from channel partners
Deals Generate $2M in ARR from partners
ARR #8: Customer Engagement OKRs
Objective
Increase Customer Engagement
Target Date: Q3-2020
Visibility: All Employees
Key Results
Increase customer satisfaction score from 20% to 80%
Customer Satisfaction Score Document common outcomes from customers FAQ during webinars
Outcomes Complete integration of event-triggered campaigns
Integration #9: Outbound OKRs
Objective
Build a Robust Demo Pipeline for Americas
Target Date: Q3-2020
Visibility: All Employees
Key Results
Increase outbound demos from 15 to 75
Outbound Demos Qualify at least 60 leads from monthly webinars
Monthly Webinars Maintain at least 125 new outbound emails per week
New Outbound Emails Per Week #10: Revenue Management OKRs
Objective
Increase Annual Recurring Revenue
Target Date: Q3-2020
Visibility: All Employees
Key Results
Increase annual renewals from 75% to 90%
Annual Renewals Increase lead conversion to sales from 20% to 40%
Lead Conversion To Sales Revamp customer acquisition process
Customer Acquisition Process Conclusion
Profit.co’s OKR software provides an intuitive interface to define your Sales OKRs and also comes with 300+ predefined KPIs to make OKR adoption easy.
Please also check out our other OKR example pages, Engineering OKRs, Marketing OKRs, HR OKRs, Customer Service OKRs, and Procurement OKRs.