What are OKRs?
OKRs, or Objectives and Key Results, is a goal-setting framework that helps organizations define strategic objectives and measure their progress towards achieving them. It’s all about aligning your team around achievable, quantifiable outcomes.
In the world of channel partnerships, OKRs work as a roadmap that can guide your indirect sales strategy. Objectives are your broad, ambitious goals. They should be inspirational and challenging, but also achievable. For example, your objective could be to “increase partner engagement in our portal.”
Key results are specific, measurable, and time-bound actions that track the progress towards the objective. For example, some key results for the objective above could be:
- A 25% increase in partner logins to the portal by the end of Q1
- A 15% increase in the number of partners participating in co-marketing campaigns and joint initiatives by the end of Q2
- To attain a Net Promoter Score (NPS) of 70 or higher among channel partners by the end of the year
- To increase the average quarterly revenue contribution from each partner by 10% through targeted enablement and support programs
OKRs can be an effective way to ensure that everyone in your ecosystem, from partners to your channel managers, is working towards the same goals. And since they’re measurable, you can easily track progress and adjust your strategy as needed.
The power of OKRs lies in their alignment with your overall business strategy and their ability to create focus and foster collaboration among your partners.