To realize that potential in your market
Posted: Tue Dec 17, 2024 4:17 am
Dogs : Dogs do not have a large market share and do not have a bright future. You do not want to get burned by this. Only invest if the ROI is obvious.
Question marks : These are your products or services with a low market share in a growing market. Question marks can develop into future stars, or they can be completely worthless. It takes more research and experimentation to determine this.
The BCG Matrix is a simple but reliable model (although it has its limits).
BCG matrix
In this article I will explain how you can come to similar insights by doing this exercise on your marketing efforts. This way you can determine how your focus and budget should be distributed across all iran telegram data the channels that you currently have included in your marketing mix.
Applied to marketing
The medium is different, but the strategy remains the same. Milk the cash cows, don’t waste money on the dogs, invest in the stars, and tackle the question marks with experimental funds to see if they can evolve into stars.
What does this new matrix look like?
The BCG Matrix for Marketing.
Instead of market share, the X-axis shows current ROI or “how effective campaigns are in achieving their goals.” The Y-axis, on the other hand, shows channel growth instead of market growth, in other words, how saturated the channel currently is. Let’s dig a little deeper into what these categories look like from a marketing perspective.
Cash cow
Your cash cows are your proven, battle-hardened marketing efforts. They won’t win you any awards, but they get the job done. They’re so well-designed that they can run just fine without any maintenance, and budget.
A good example of a marketing cash cow is a well-executed SEO strategy. Google has given your website the big thumbs-up , your evergreen content is rock solid, your backlinks are running at full speed… If the marketing manager has done his job well, you will have a steady flow of traffic without having to keep going back and making adjustments. Conversion rate optimization also belongs in this list. Increasing the conversion rate ensures that you earn more on average for every visitor to your website or app.
Question marks : These are your products or services with a low market share in a growing market. Question marks can develop into future stars, or they can be completely worthless. It takes more research and experimentation to determine this.
The BCG Matrix is a simple but reliable model (although it has its limits).
BCG matrix
In this article I will explain how you can come to similar insights by doing this exercise on your marketing efforts. This way you can determine how your focus and budget should be distributed across all iran telegram data the channels that you currently have included in your marketing mix.
Applied to marketing
The medium is different, but the strategy remains the same. Milk the cash cows, don’t waste money on the dogs, invest in the stars, and tackle the question marks with experimental funds to see if they can evolve into stars.
What does this new matrix look like?
The BCG Matrix for Marketing.
Instead of market share, the X-axis shows current ROI or “how effective campaigns are in achieving their goals.” The Y-axis, on the other hand, shows channel growth instead of market growth, in other words, how saturated the channel currently is. Let’s dig a little deeper into what these categories look like from a marketing perspective.
Cash cow
Your cash cows are your proven, battle-hardened marketing efforts. They won’t win you any awards, but they get the job done. They’re so well-designed that they can run just fine without any maintenance, and budget.
A good example of a marketing cash cow is a well-executed SEO strategy. Google has given your website the big thumbs-up , your evergreen content is rock solid, your backlinks are running at full speed… If the marketing manager has done his job well, you will have a steady flow of traffic without having to keep going back and making adjustments. Conversion rate optimization also belongs in this list. Increasing the conversion rate ensures that you earn more on average for every visitor to your website or app.