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.
Entity–Relationship Diagram (ERD) HR Management System Template
Works best for:
ERD
The Entity–Relationship Diagram (ERD) HR Management System Template in Miro is designed to streamline the management of employee-related information and processes within an organization. This template allows for the visualization and organization of complex HR systems, making it easier to understand relationships and processes. It enables users to map out departments, positions, and employee details, including attendance records, payroll, and performance reviews.
3 Horizons of Growth Template
Works best for:
Leadership, Strategic Planning, Project Planning
Featured in The Alchemy of Growth, this model gives ambitious companies a way to balance the present and the future—in other words, what’s working in the existing business and what emerging, possibly-profitable growth opportunities lie ahead. Then teams across the organization can make sure that their projects map to and support the organization’s goals. The 3 Horizons of Growth model is also a powerful way to foster a culture of innovation—one that values and depends on experimentation and iteration—and to identify opportunities for new business.
FMEA Analysis Template
Works best for:
Agile Methodology, Strategic Planning, Software Development
When you’re building a business or running a team, risk comes with the territory. You can’t eliminate it. But you CAN identify it and mitigate it, to up your odds of success. Failure Modes and Effects Analysis (FMEA) is a powerful tool designed to help you manage risk and potential problems by spotting them within a process, product, or system. And you’ll spot them earlier in your process—to let you sidestep costly changes that arise late in the game or, worse, after they’ve impacted your customers and their experience.
Prune the Product Tree Template
Works best for:
Design, Desk Research, Product Management
Prune the Product Tree (also known as the product tree game or the product tree prioritization framework) is a visual tool that helps product managers organize and prioritize product feature requests. The tree represents a product roadmap and helps your team think about how to grow and shape your product or service by gamifying feedback-gathering from customers and stakeholders. A typical product tree has four symbolic features: the trunk, which represents the existing product features your team is building; the branches, each of which represents a product or system function; roots, which are technical requirements or infrastructure; and leaves, which are new ideas for product features.
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.
Product tone of voice
Works best for:
Product Management, Planning
The Tone of Voice Workshop template helps product teams define and align on brand tone and messaging. By facilitating collaborative workshops, exploring brand personality traits, and defining tone guidelines, this template ensures consistent and impactful communication. With sections for identifying target audience personas, articulating brand values, and crafting messaging principles, it enables teams to create authentic and compelling brand voices. This template serves as a foundation for building strong brand identities and resonating with customers across all touchpoints.