Outlook Mac - custom Keyboard shortcuts (categories)

Hi. I am trying to add keyboard shortcuts to Outlook for Mac that will let me quickly categorize an email or apply some sort of defined action. So, for example, if i press CMD-2, it might flag an email as important, etc. I was trying to do this via apple's system shortcuts, but not sure on how to properly call 'categories' or even with the custom categories that i have created. Is this possible?