Ansoff Matrix Template
Explore opportunities for growing your business with the Ansoff Matrix Template.
About the Ansoff Matrix template
When your business is doing well, it can be easy to slip into complacency. But if your organization is to keep growing and scaling, you’ll have to look for new ways to boost your bottom line and reach new customers. The Ansoff Matrix, also known as the product or market expansion grid, can help you do just that.
An Ansoff Matrix is a strategic tool that allows you to evaluate numerous options for growing your business. It helps you evaluate the potential risks of each option and to devise a plan that fits your specific organization. Igor Ansoff developed the matrix in 1957, and since then, numerous business leaders have used it to jumpstart their business’s growth.
While there are some variations, the typical Ansoff Grid contains four quadrants. Each quadrant contains a potential growth strategy. Whenever you move into a new quadrant, either horizontally or vertically, your risk increases.
How do you use the Ansoff Matrix?
The Ansoff Matrix is divided into four sections that place markets and products/services depending on whether they already exist or represent a future opportunity. The four sections are market penetration, market development, product development, and diversification. Market penetration refers to selling more of your products and services to existing customers, market development refers to entering new markets, product development refers to developing your existing products or services, and diversification refers to moving into new markets with new products and services, increasing sales with your existing customer base, and acquisition. Go through each section with your team and determine where there are areas for making changes or improvements.
When should you use the Ansoff Matrix?
You should use the Ansoff Matrix whenever you do strategic planning for your marketing organization. You may find it beneficial to fill out the matrix at least once a year, though potentially more frequently if conditions are changing rapidly in your industry.
What factors go into an Ansoff Matrix?
Factor 1 - Market penetration. The lower left quadrant contains the safest of the four options. Market penetration focuses on boosting sales of your product in your existing market. This is a low-risk option because you already know the market and you’re aware of your product’s strengths and weaknesses relative to your competitors.
Factor 2 - Product development. The lower right quadrant is slightly more risky. In this approach, you’re introducing a new product into your existing market.
Factor 3 - Market development. The upper left quadrant is even riskier. In this case, you’re launching an existing product in a new market. This strategy involves either finding a new use case for your product or adding features so that it meets a different customer need.
Factor 4 - Diversification. The upper right quadrant contains the riskiest option. You’re introducing a new product into a new market.
Get started with this template right now.
Reverse Brainstorming Template
Works best for:
Ideation, Brainstorming, Team Meetings
Reverse brainstorming is a technique that prompts a group to think of problems, rather than solutions. Because we naturally think of problems, it’s a great way to get a group to anticipate problems that may occur during a project. To engage in reverse brainstorming, start by identifying the problem, and then think of things that might exacerbate it. Ask your team to generate ideas around ways in which the problem could get worse. Reverse the problems into solutions again, and then evaluate your ideas.
Kano Model Template
Works best for:
Desk Research, Product Management, Prioritization
When it comes down to it, a product’s success is determined by the features it offers and the satisfaction it gives to customers. So which features matter most? The Kano model will help you decide. It’s a simple, powerful method for helping you prioritize all your features — by comparing how much satisfaction a feature will deliver to what it will cost to implement. This template lets you easily create a standard Kano model, with two axes (satisfaction and functionality) creating a quadrant with four values: attractive, performance, indifferent, and must-be.
Voice of the Customer Template
Works best for:
Marketing, Desk Research, User Experience
Identifying the voice of the customer is a crucial part of any customer experience strategy. Your Voice of Customer is simply a framework for understanding your customers’ needs, wants, preferences, and expectations as they interact with your brand. Evaluating your Voice of Customer allows you to dive into what your customers are thinking, feeling, and saying about your products and services, so you can build a better customer journey. Use the Voice of Customer template to record answers to key questions about your customer, including: What are they saying about our product? What do they need? How can we fulfill that need? And who is this persona?
Eisenhower Matrix Template
Works best for:
Leadership, Strategic Planning, Prioritization
Have an overwhelming list of to-dos? Prioritize them based on two key factors: urgency and importance. It worked for American president Dwight D. Eisenhower, and it can work for you—this decision-making framework will help you know where to start and how to plan your day. With our template, you can easily build an Eisenhower Matrix with a quadrant of key areas (Do, Schedule, Delegate, and Don’t Do) and revisit it throughout the day as your priorities change.
Calendar 2024 - a Year timeline
Works best for:
Strategy, Planning
The Calendar 2024 a year Timeline template is perfect for planning and organizing your year. It helps you schedule important dates, track annual goals, and stay on top of deadlines. This template ensures you have a clear overview of your year ahead.
Service Blueprint by Hyperact
Works best for:
Research & Design
The Service Blueprint template is perfect for visualizing the orchestration of service components. It maps out frontstage and backstage elements, helping you analyze and enhance customer experiences. Use this template to align teams, identify pain points, and streamline processes, ensuring a seamless service delivery. It's ideal for creating a shared understanding of service dynamics among stakeholders and collaborators.