The Difference Between OKRs and KPIs
Running a small B2B marketing team can feel like a juggling act.
You’re strategizing, executing, and trying to prove ROI—all before your coffee even has a chance to kick in.
Enter OKRs and KPIs, two acronyms that could become your best pals (or worst enemies) in B2B marketing.
First, what are OKRs?
OKRs are Objectives and Key Results. They are about dreaming big and then breaking down those dreams into actionable steps.
Think of them as your north star and the planets you have to hop to get there.
OKR Step #1: Crafting an Objective
Identify what you want to achieve.
This should be ambitious enough to push you but still within the realm of possibility.
Example Objective
Become the go-to source for industry insights within six months.
OKR Step #2: Choosing Key Results
These are measurable milestones that, if achieved, will indicate you're hitting your objective.
Key Results Examples
Secure a guest column in three major industry publications.
Double the subscriber count for your insight newsletter.
Increase website traffic by 50% through organic search.
What are KPIs?
KPIs are Key Performance Indicators. These are the metrics that keep you grounded. Think of them as a reality check!
They provide ongoing data to help you understand if your day-to-day is aligning with your objectives
KPI Step# 1: Choosing Your Metrics
Select KPIs that will give you insights into your progress toward your OKRs.
Examples of KPIs to Watch
Guest Column Submissions: Track how many pitches are accepted as a direct measure of your outreach efforts.
Newsletter Sign-ups: A simple count will do. This KPI tells you if your content strategy is working.
Website Traffic Reports: Use analytics to monitor the source and behavior of your traffic to gauge and improve content strategy.
Bringing OKRs and KPIs Together
OKRs and KPIs Chart by Eric Partaker
It’s one thing to set goals and another to measure success accurately.
Here’s where OKRs and KPIs team up to give you a 360-view of your strategy.
Step 1: Quarterly OKRs
These are your mission statements for the quarter. They’re all about pushing for growth!
Step 2: Monitor KPIs Regularly
While OKRs set the stage for the quarter, KPIs are the weekly episodes that tell you how well the show is running.
Step 3: Adjust and Adapt
Use KPIs to understand the story behind the numbers. If you’re not on track to meet your OKRs, it’s time to pivot.
Remember: Celebrate Wins and Learn from Losses
When KPIs show you’ve hit a Key Result, take time to celebrate!
If not, dig into the data for insights.
Practical Application for B2B Marketers
For B2B marketers, the practical application of OKRs and KPIs can be broken down into project management and performance tracking.
Here are some practical applications you can apply these to!
1. Campaign Planning
Use OKRs to set the overall goal for a campaign, like penetrating a new market segment.
Then, track specific KPIs like lead quality and conversion rates to measure campaign performance.
2. Content Strategy
Set an OKR for content marketing, perhaps to establish thought leadership.
Measure KPIs such as engagement on posts, click-through rates, and time spent on page to tweak your content plan.
3. Product Launches
If you’re launching a new product, set OKRs around market education and adoption.
KPIs might include demo sign-ups, engagement at industry events, and feedback scores.
Wrapping It Up
OKRs and KPIs are probably the most useful corporate buzzwords out there. They can help you reach for the stars while keeping your feet firmly on the ground.
For a small B2B marketing team, they're useful for staying focused, measuring progress, and achieving success.
By integrating OKRs and KPIs into your workflow, you can break down complex goals into achievable actions and ensure that every effort contributes to your broader business objectives.
So, go ahead and set those ambitious targets. With OKRs and KPIs in your arsenal, you're ready to turn those goals into reality.