7 OKR templates for product teams

You know what you want to achieve and why it matters. This is your vision. Now, how will you get there? As a start, you need to define what success means to you so you can figure out the work to be done. That means setting concrete goals and performance metrics.

To do this, product teams use various goal-setting templates — and the objectives and key results (OKRs) framework is one of the most popular. OKRs pair a desired outcome with key metrics that indicate achievement. They can be defined at the business, product, team, or individual level for any type of work. When it comes to product development, OKRs are often centered around improving product adoption, usage, and growth among customers.

With Aha! Roadmaps, you can set these OKRs at every level of the organization — aligning larger business goals with product goals and the work of individual teams. You can even visualize everything with an OKR roadmap. If you prefer a more lightweight option, this OKRs template pictured below is a great way to get started. You can also try the downloadable templates for Word, Excel, or PowerPoint below.

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How to set product OKRs

Let's review how to write product OKRs with step-by-step instructions. Note that setting OKRs for other purposes or teams can follow a similar process.

1. Understand business objectives: High-level company goals will guide you in creating your product strategy and identifying specific areas of investment. Some common examples of business objectives include increasing revenue or reducing churn by a certain amount.

2. Set product goals: Each product goal should link back to a business objective. For instance, if one of your company goals is to increase revenue by $5 million over the next quarter, you can establish a corresponding product goal to increase annual recurring revenue (ARR) by a certain percentage.

3. Define success metrics: Company leaders and the product development team should cooperate on how to best quantify success. Examples of key results for a SaaS product include adding a certain number of new customers each month or reducing new user churn by a certain percentage per month. Many teams use a product value scorecard to further measure and prioritize the value each piece of work will deliver.

4. Determine product initiatives: Now that you have your product objectives and the key results you are aiming for, it is time to clarify how you will actually achieve those results. This is where product initiatives come in — they are the broad themes or areas of work the product team will pursue in order to achieve each goal. Examples of initiatives include improving users' mobile experience and enhancing specific product capabilities.

5. Map out corresponding epics, releases, and features: Each initiative will likely have its own epics, releases, and features. By linking each of these units of work on your product roadmap to a company objective, product goal, and product initiative, you ensure that the team is focused on what is most impactful to the business.

6. Track metrics over time: Creating an OKR is not a one-time exercise. You must regularly review your OKR to make sure you are attaining the results you want. Some product teams discuss their objectives and key results in weekly or biweekly meetings, while others track progress on a monthly or quarterly basis.


How do product managers use OKRs?

The best product managers employ a goal-first approach. And OKRs give you a framework to do just that — pairing product objectives with the key results that will demonstrate achievement. Here is an example. Say your company has a business goal of increasing revenue. You will want to establish a product goal that connects back to it:

  • Business objective: Increase company revenue by $X

    • Product objective: Increase annual recurring revenue (ARR) by X percent

With the help of company leaders and the product team, you will also need to determine how to quantify and measure success. For instance, potential key results for a SaaS product could be the following:

  • Key result 1: Add X new customers per month

  • Key result 2: Reduce new user churn to less than X percent per month

  • Key result 3: Increase average subscription to $X per month

Once you have defined your objectives and key results, you can plan the initiatives and major areas of delivery that will help you reach your goals. You should connect your goals all the way down to the feature level — so that you can prioritize what will bring the most value to your customers and the business.

The downloadable OKR templates in this guide are a great starting point. But strategic planning is even more effective when it is tied to your product roadmap. Try writing your OKRs in Aha! Roadmaps — where you can connect your goals to the actual work and build your product plans all in one place.

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