The hustle and weave of the business development team into proper discussions converts to sales and, in turn to revenue for your company. They strive and thrive for numbers and stretch to any length to expand your business (and the size of your pocket). Put them in the right direction by feeding them with the right Business Development OKR examples that can ease their task and throw clear vision onto their path.
Below are some samples of Business Development OKRs that are the heart of your business. Examine how they fit within your company and make any required adjustments.
O Expand the Business to ASEAN markets successfully
KR Identify the most promising market for the launch and sign an agreement with at least ten resellers.
KR Attain a 70k average order value.
KR Work closely with resellers to sell out all initial orders in 15 (maximum 20) days.
O Drive our bookings target to peaks
KR Obtain a booking of $10 million.
KR Bookings should be distributed evenly (at least $5 per sales manager).
KR Upsell and cross-sell sales should account for more than half of all bookings.
KR Target on exhibiting at 5+ industry events in Q1.
O Increase recurring revenues in the coming year
KR At least 30% of existing monthly subscriptions should be converted to annual subscriptions.
KR Reduce monthly churn to less than 3%.
KR Increase the average number of seats for monthly and annual subscriptions by 25%.
O Concentrate on, align with, and work with Business Development OKRs
KR Achieve an average weekly plan completion rate of 85% or higher across all teams.
KR Record key learnings for 14 weeks through weekly team inputs.
KR Ensure by running a poll that 95% of employees have a complete understanding of OKRs.
O Improve the efficiency of your sales machine
KR Recruit five new Sales Managers.
KR Create and compare three competing client segmentation models.
KR Deploy the winning client segmentation model to the sales team.
O Enhance our decision-making process for new market opportunities
KR Examine the most recent new market entrants and decide on ten success criteria.
KR Based on the success criteria, evaluate 12 new customer market opportunities.
KR Obtain confirmation from three outside company experts that the three top-scoring market options are the best ones.
O Equip our sales team with world-class -A-players
KR Recruit 12 new Accounts Executives by the end of January.
KR Recruit 25 new Sales Development Representatives by the end of January.
KR Recruit 7 new Sales Managers by the end of January.
KR Keep the on-site interview offer ratio at 5:1.
O Strive for Excellence
KR Conduct an internal brainstorming session with all seven teams to discuss "How can we do better?" and come up with five potential improvements.
KR Contrast every aspect of the product with those of 12 key competitors.
KR Conduct a survey to gather feedback from 150 customers in order to identify the grey areas that need to be addressed.
KR Make a list of 5 areas of improvement across the organization.