Everything will become clear in the next paragraphs! Step by step: how to create a Digital Marketing plan for your company What is OKR? Explaining this concept of ” Objectives and Key Results ” — creat by former Intel CEO Andrew Grove — is easier if I show you the difference between: Objectives (the letter “O” in OKR); And the Key Results (the “KRs” in OKR). Objectives are ambitious and achievable challenges that, when clear and inspiring, direct the behavior of a company’s members towards achieving Key Results . The positive completion of an Objective generally moves a business to a new level of profitability , productivity and understanding of: Employees; Internal flaws; And the customers.
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To say whether an Objective was achiev or not, these Key Results must meet some important goals for measuring success — or failure. Identifying positive from negative is easy with KRs because Key Results are quantitative : exact numbers and percentages to express quantities. If the Objective is to sell more through an online store, for example, a Key Result would be to increase the shopping cart completion rate by 15% for the next 6 months. If, in 6 months, the Key Result indicates an increase of 15%, the Objective has been successfully complet ! Otherwise, understanding what Latest database prevent the business from achieving such an increase is also an advantage of OKR : the error becomes glaring — the fix, less mysterious.
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You can learn a little more about OKR by watching the following video: OKR methodology: what it is, importance and examples! What is the difference between OKR and KPI? Although both approaches complement each other when necessary, OKR and KPI are not the same thing : OKR is more about defining Objectives and Key Results that satisfy a company’s desire for growth Mobile Lead within a specific period of time. The KPIs (Key Performance Indicators) are: Broader metrics.
