The Ansoff Model is a matrix that helps marketing leaders identify business growth opportunities for their marketing strategies in a challenging market
What is the Ansoff Model?
Also referred to as the Ansoff matrix, due to its grid format, the Ansoff Model helps marketers identify opportunities to grow revenue for a business through developing new products and services or "tapping into" new markets. So it's sometimes known as the ‘Product-Market Matrix’ instead of the ‘Ansoff Matrix’.
The Ansoff Model's focus on growth means that it's one of the most widely used marketing models. It is used to evaluate opportunities for companies to increase their sales through showing alternative combinations for new markets (i.e. customer segments and geographical locations) against products and services offering four strategies as shown.
How to use the Ansoff Matrix
Strategic questions that can be answered using the matrix include:
Marketing plan integrating the RACE Framework alongside PR Smith's SOSTAC® planning model
Given the increasingly omnichannel nature of marketing today, leading to increased digital touchpoints and experiences for our customers, applying an effective, data-driven approach to your marketing strategy is more important than ever. But it can be difficult finding a structure that works for your team, that integrates your objectives, strategies and tactics across your customers' journeys.
For marketers looking to rapidly grow their businesses through an insights-driven, efficient and streamlined marketing strategy, we recommend utilizing the Smart Insights RACE Framework to get started. This popular structure enables marketing managers and teams to critically evaluate each stage of their marketing funnels across the customer lifecylce of plan - reach - act - convert - and engage.
SOSTAC® is another widely used tool for marketing and business planning. But, unlike RACE, SOSTAC® doesn't specifically reference digital marketing activities. The positioning of the SOSTAC®…
What are the essential parts of a multichannel marketing plan template?
Multichannel marketing, or omnichannel marketing, is the process of utilizing online and offline marketing communications channels to target and engage with your customers.
As outlined in our popular Learning Path module, structure a plan using the RACE Planning framework, the purpose of a multichannel marketing strategy is to empower marketers and managers to plan, manage and optimize the resources needed to achieve business sales targets. The timeframe is typically annual but potentially longer-term, such as 18 months to three years.
Examples of communications channels could include, for example:
The goal is to deliver leads and sales targets for defined products and services, which can apply to an organization as a whole, or a single market if there are multiple markets and product or service categories.
An effective omnichannel approach to marketing…
From SMART to SMARTER marketing objectives: Discover how to define marketing objectives, measure your digital marketing channels and campaigns, and use data to inform strategy
When identifying specific marketing objectives to support your long-term goals, it is common practice to apply the widely used SMART mnemonic. You will know that SMART is used to assess the suitability of objectives set to drive different strategies or the improvement of the full range of business processes.
One of the main reasons we called our site and service SMART Insights is because we help marketers succeed through using a more structured approach to their marketing strategy and planning.
We've got marketing tools and techniques to support you in defining and measuring your marketing objectives, so you can use data to inform your marketing strategy.
If you're looking for a winning marketing strategy to reach and acquire more customers, why not book a free consultation to…
Structure your next big marketing campaign using the 5-step RACE Framework to inform your strategy. Integrated across plan, reach, act, convert and engage, our marketing solutions are proven to win more customers and accelerate your ROI
Have you got an up-to-date marketing campaign planning process? Creating ad-hoc campaigns, or re-using previous successful approaches, can be the time-saver you need to get a new campaign up and running.
But, without understanding the wider PESTLE issues before planning a campaign, you could target the wrong audience with incorrect messaging, or even cause offense. Keep reading for examples of marketing campaigns that do just that, plus our recommended tools for your marketing campaign PR management.
What is the RACE Framework?
The RACE Framework supports managers and marketers to integrate all their key channels and tactics into one plan. Apply the RACE Framework to streamline your marketing strategy today, so you can clearly track and manage your campaign…
Exploring the latest medical landing page conversion rates to inform your pharma or healthcare marketing strategy
'What does good look like?' 'How do we compare?' and 'How do we get there?' are common questions when healthcare marketing strategy is concerned. With so much competition in healthcare marketing today, you need to benchmark yourself against the key metrics within your industry.
But, good benchmarking is only as useful as your marketing strategy allows it to be. Are you confident that you're applying a data-driven strategy? Are you happy with the metrics in place to inform your digital marketing optimization?
We'll delve into some recommended resources and marketing tools to help you implement your benchmarking learning and increase your healthcare customer conversion and retention.
Conversion rate benchmarking for your healthcare marketing strategy
It's useful to have conversion statistics to compare your conversion rates against if you're serious about conversion rate optimization (CRO). And with the resources and…
Use our digital marketing strategy template integrated across the RACE Framework to plan and get ahead in your digital marketing
We all know the old saying “if you fail to plan, you are planning to fail”, but when it comes to digital marketing, this really is the case. It has never been more important than it is now to create a digital marketing strategy template so you can plan, manage and optimize your online activities.
Today, digital media is vital when it comes to driving leads and sales, meaning marketers need to understand how best to engage and convert online audiences. Despite this, our research shows that many businesses still don’t have a digital marketing plan.
As a result, companies are missing out on the benefits of having a digital marketing plan integrated into their overall marketing plan or as a separate roadmap for digital transformation. At a time when marketers are increasingly…
Explore the essentials of a successful e-commerce marketing plan, with real-life examples. Plus find out more about our tools and frameworks to support your strategic planning across the omnichannel retail customer lifecycle
What does a good e-commerce marketing plan look like? What structures and frameworks help e-commerce marketers to accelerate their ROI? In this blog, I'll be covering the essential elements for you to apply to your online retail strategy, including a case-study of Clinique. Plus, find out how the RACE Framework will help you streamline your omnichannel marketing, so you can plan, manage and optimize every customer touchpoint in their journey to purchase.
Omnichannel e-commerce marketing planning took the top spot in our recent 2021 e-commerce marketing trends report. Clearly, omnichannel planning is a hot topic for online retail marketers at the moment. But still, so many businesses are not doing it well. In this…
To give your business the best chance of success, you need to invest in marketing skills. For a simple reason: marketing provides visibility for your products and converts customers.
Having said that, investing in marketing skills goes beyond just buying marketing tools and hoping for the best. Those tools will only be effective when your marketers have the training to utilize them effectively.
Accelerating learning is one of the most important organizational factors in business growth, and a crucial step to being 'future-ready', according to McKinsey's 2021 study. Of course, for managers, holding on to skilled employees is also important. Future-ready companies recognize that talent is their 'scarcest form of capital'.
In this blog post, you’ll find 10 vital marketing skills that your business should start investing in today.
1. Interpersonal relationship skills
Even though a lot of marketing is done online today, marketers still end up interacting with their co-workers and…
Planning how companies communicate with customers has always been an important aspect of marketing strategy. But the introduction of new omnichannel marketing technologies in the era of digital disruption makes it even more crucial today
The pace of innovation continues to drive new options for reaching customers across a number of key channels. Savvy business leaders know that to thrive in this market, they must be ready to adapt and develop their strategies. For example, Omnichannel marketing is now recognized as an essential approach for all businesses with an online presence. But how does omnichannel relate back to your customer?
Twenty years ago, when digital channels didn’t have the diversity and importance they do now, the choice of which channel to use and how best to connect with customers didn’t influence customer service outcomes so heavily. Today, however, customers have an astounding number of options for communicating with companies — and businesses…