Use OKRs to Prioritize your Marketing
Arik Marmorstein, founder of Spectroomz, spent time with the WeWork Labs Small Business Accelerator to share an overview of OKRs and walk the cohort through how his company approaches marketing OKRs and tactics. In this post, we share his presentation and slide deck, plus a little more context on the topic.
Arik gave us a lens into a great working doc (linked below) and shared that even though he is a successful entrepreneur, he still devotes 2hrs per week to his OKRs, testing and refining. It is a process that should always be in place, unless your goal is to coast.
OKRs are a meaty, difficult topic that take practice to fully implement. This session provides a good beginning of the conversation. The concept of Objectives and Key Results is a powerful prioritization method that originated in Intel and, while often associated with tech teams, can be broadly applied to any team striving for clear progress.
- Objectives should be something you can't easily achieve. They need to push you, so you should set your objectives at a level that you would be impressed with yourself if you completed 100% by the end of the quarter.
- OKRs vs KPIs: Objectives are qualitative, Key Results are quantitative, and KPIs are the ongoing feedback loops from your business operation.
- Take an oversimplified car metaphor as an example: Objective - You want to get to your destination faster. Key Result - increase speed by +10mph. KPI is MPH indicating your speed in realtime, whether it's better (faster) or worse (slower). KPIs inform OKRs but do not set OKRs.
- B2B and B2C will both have OKRs. The specifics are different but this is an approach that applies to all companies.
- This needs a cultural effort in your company in addition to a tactical one. (For more reading on this concept: See 5 Dysfunctions of a Team)
Resources about OKRs and Marketing OKRs
- Arik's OKR Template - Reminder: customize and add your tactics per the needs of your business/objectives.
- The best OKR reading list in the world? - this is a super helpful post with lots of videos and links with specifics about team vs individual OKRs.
- Marketing OKRs for a B2B SaaS Company - some helpful examples
Perk: WeWork Labs members also get 20% off of your first project on Spectroomz + 20% off of the "We Own All Your Content Marketing" package which is managed by Spectroomz (you save $1,200 for 6 months on the package).
To take advantage of this, reach out to email@example.com.
You can click through Arik's slides here:
This post is based on content from a WeWork Labs programming session. If you're interested in connecting directly with this mentor, please ask your Labs Manager for assistance.