The Ansoff Matrix: work together as a team to create the best growth strategy

The Ansoff Matrix is the ideal project management tool to help you choose the right growth strategy

Do you want to grow your business? It's all about strategy. In 1957, Igor Ansoff invented the perfect tool for creating growth strategies: the Ansoff Matrix. The Ansoff Matrix template is the marketing matrix you need to use to help you decide how to move forward. Analysis is based on four strategies: market penetration, product development, market development and diversification. Learn how to make strategic team choices and identify the concrete actions to be taken as a result!

Simplicity and relevance: the key benefits of this marketing matrix

Be guided by the four growth strategies offered by the Ansoff Matrix and use the position and vision of each member of your project team for an effective business analysis. This means working as a team to identify possible actions or those to be avoided, ranging from the least to the most risky.

Whether you’re meeting face to face or remotely, this template, combined with the flexible customization features of the Klaxoon Board, will help you to come together to reach a collective decision. Use the Question feature to personally engage each participant. The highly visual Board also means the whole team can share useful elements for analysis and debate in any format (written, media, links etc.). Everything you need for extremely intuitive project management!

Finally, if you use this matrix alongside a SWOT analysis, you will have an effective strategic diagnosis of your business. You can then refine your company vision to make the best strategic decisions possible!

How can you use the Ansoff Matrix to develop a concrete growth strategy with Klaxoon?

The workshop facilitator starts by inviting all the employees concerned to the Board. The table in the center is the Ansoff Matrix. It matches up existing and new products with existing and new markets to produce four different Ansoff strategies.

You and your team, be it face to face or remotely, start by identifying the strategies in place within your organization. Each participant can send their ideas into the matrix using the color code shown in the key (from yellow to red, i.e. from least risky to highest risk). You can add text and images or links to shared documents too! For effective project management, this diagnostic step is very important to take stock and get everyone on the same page.

You can then analyze the different growth strategies, already in place or to be implemented. Time your discussions, thanks to the Board's integrated timer and make sure to consider both the risks and the growth potential for the company!

When you are finished, invite each participant to answer the question displayed in the Action Plan and vote for the best growth strategy. Of course, you can choose more than one.

Does one strategy stand out? Then ask everyone to like the ideas that they think are the best in this box. Once you have decided what actions to take, copy them in a different color and insert them into your Action Plan. Use the Dimension feature to add the name of the person responsible for each idea. And there you have it, a true Ansoff growth strategy achieved through collective intelligence!