The Most Important OKRs for a Fractional CMO

Well-crafted OKRs are the core of any strong quarterly marketing plan implementation.

An OKR is an Objective and Key Result

OKRs are simple, clear instructions to everyone about what is to be done and why it counts. 

Anyone who’s listened to a dense Powerpoint presentation or thumbed through a lengthy PDF about a plan knows how quickly you can lose the interest of an audience like a burst balloon.

When everyone sees and understands the OKRs, the foundations of your team work will be strong. OKR is sometimes confused with the widely used EOS term “Rock” or even the term “KPI,” but it is clearly distinct from them.

The 3 Questions to Create OKRs for Fractional CMOs

Growth marketing is about focused, flexible energy with a strong feedback mechanism built in. When something is working, we want to know… right away! When something isn’t working, we want to know it even more.

If you have OKRs for your fractional CMO in place, everything from team structure to tools to spend is clear for everyone to define and prioritize their work correctly. This should the first goal of your work together as CEO/Founder and fractional CMO.

Some questions to ask to get to the correct OKRs for fractional CMOs are:

  1. What will the fractional CMO do to grow my brand awareness, customer growth and revenue?
  2. Why will the fractional CMO perform these specific actions? 
  3. How will we know when we’ve succeeded? How will we know along the way that we’re on our way?

Drive for Growth Confidently With an Expert Fractional CMO

You can’t get where you want to go if you don’t know where you are going.

Once you know where you want to go, how fast should you try to get there? 

Lastly, you need to consider how much it will cost for the ride and be sure it is well worth it.

Objectives and Key Results (OKRs) for a fractional Chief Marketing Officer (CMO) should align closely with these overall business goals.  

When a fractional CMO is in charge, the OKRs generally focus on four 90 day sprints over the course of one year. That way, there is time to properly research, launch, measure, optimize and grow the campaigns the right way.

Top Ten OKRs for Fractional CMOs

Here are some key objectives and associated key results that are crucial to the work of a fractional CMO:

1. Objective: Increase Brand Awareness

  • KR1: Achieve a 20% increase in brand mentions and positive sentiment on social media platforms within the next quarter.
  • KR2: Increase website traffic by 30% through organic and paid channels.

2. Objective: Improve Lead Generation

  • KR1: Increase the number of qualified leads by 25% through targeted inbound marketing efforts.
  • KR2: Achieve a 15% conversion rate from website visitors to leads through optimized landing pages and lead generation forms.

3. Objective: Make Customer Acquisition More Efficient

  • KR1: Decrease the customer acquisition cost by 10% through conversion rate optimization (CRO) marketing channels and strategies.
  • KR2: Increase the number of new customers by 20% compared to the previous quarter.

4. Objective: Lower Customer Churn and Increase ARPU

  • KR1: Increase customer retention rates by 15% through targeted email campaigns and customer loyalty programs.
  • KR2: Achieve a Net Promoter Score (NPS) of 8 or above through improved customer satisfaction initiatives.

5. Objective: Optimize Marketing ROI

  • KR1: Achieve a minimum of 3x return on investment (ROI) for all major marketing campaigns.
  • KR2: Reduce marketing spend on underperforming channels by 15% through data-driven analysis.

6. Objective: Improve Online Presence and SEO-Generated Leads

  • KR1: Increase organic search traffic by 20% through SEO optimization and content marketing.
  • KR2: Achieve first-page rankings for targeted keywords in the industry.

7. Objective: Strengthen Marketing Team Collaboration and Effectiveness

  • KR1: Implement a new Asana-based project management system, leading to a 20% increase in project completion rates.
  • KR2: Conduct quarterly training sessions to ensure the marketing team stays updated on industry trends and best practices.

8. Objective: Enhance Marketing Technology Stack

  • KR1: Implement a marketing automation platform like Hubspot, resulting in a 30% improvement in lead nurturing and conversion rates.
  • KR2: Integrate analytics tools to provide real-time insights into campaign performance and customer behavior.

9. Objective: Launch Successful Product/Service Campaigns

  • KR1: Achieve a 15% increase in product/service adoption rates within the first month of launch.
  • KR2: Generate press coverage and media mentions for new product releases, reaching a target audience of at least 500,000.

10. Objective: Foster Strategic Partnerships and Collaborations

  • KR1: Identify and establish partnerships with at least three key influencers or organizations in the industry.
  • KR2: Increase referral traffic by 25% through partnerships and collaborations.

These OKRs provide a mix of short-term and long-term goals, covering various aspects of marketing, from brand awareness to customer acquisition and team collaboration. 

Adjust these objectives based on your company’s specific needs, industry, and growth stage. 

Find the Right Reporting Cadence to Keep OKRs On Track

Regularly review and update OKRs to ensure they remain relevant and aligned with the evolving goals of your business.

https://snohat.com

Founder, Fractional CMO