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.
Startup Canvas Template
Works best for:
Leadership, Documentation, Strategic Planning
A Startup Canvas helps founders express and map out a new business idea in a less formal format than a traditional business plan. Startup Canvases are a useful visual map for founders who want to judge their new business idea’s strengths and weaknesses. This Canvas can be used as a framework to quickly articulate your business idea’s value proposition, problem, solution, market, team, marketing channels, customer segment, external risks, and Key Performance Indicators. By articulating factors like success, viability, vision, and value to the customer, founders can make a concise case for why a new product or service should exist and get funded.
Fishbone Diagram for Manufacturing
Works best for:
Fishbone diagram
In manufacturing, pinpointing the root causes of defects and inefficiencies is crucial. The Fishbone Diagram for Manufacturing template helps you systematically investigate issues related to production. Categorize potential causes into areas such as machinery, methods, materials, and manpower. This structured approach enables your team to collaboratively identify and address underlying problems, improving processes and enhancing manufacturing quality.
Buyer Persona Template
Works best for:
Marketing, Desk Research, User Experience
You have an ideal customer: The group (or few groups) of people who will buy and love your product or service. But to reach that ideal customer, your entire team or company has to align on who that is. Buyer personas give you a simple but creative way to get that done. These semi-fictional representations of your current and potential customers can help you shape your product offering, weed out the “bad apples,” and tailor your marketing strategies for serious success.
Social Media Calendar Template
Works best for:
Project Planning, Marketing
Most businesses have a social media presence, but many of them aren’t using social media as a competitive differentiator. The Social Media Calendar template allows you to plan, schedule, and craft posts for LinkedIn, Twitter, Facebook, Instagram, and Pinterest, so you can leverage social media as a strategic tool to promote your brand. Use the Social Media Calendar template to plan out your social content a week, month, or quarter in advance. Collaborate with the marketing team, prepare for product launches and major initiatives, and share draft social posts.
Agile Board Template
Works best for:
Agile Methodology, Meetings, Agile Workflows
Part of the popular Agile framework, an Agile Board is a visual display that allows you to sync on tasks throughout a production cycle. The Agile Board is typically used in the context of Agile development methods like Kanban and Scrum, but anyone can adopt the tool. Used by software developers and project managers, the Agile Board helps manage workload in a flexible, transparent and iterative way. The Agile template provides an easy way to get started with a premade layout of sticky notes customizable for your tasks and team.
Timelining
Works best for:
Planning, Timeline
Timelining is a versatile template designed for creating detailed project timelines. It allows you to outline tasks, milestones, and deadlines, helping you manage projects efficiently. Whether for business or personal use, this template ensures you stay organized and on schedule.