A Simple Framework to Help You Make Better Digital Marketing Decisions
I just got done reading The Power of the 2×2 Matrix by Alex Lowy and Phil Hood of Transcend Strategy Group – a management consulting outfit in Toronto – and it was a sensational read. It led me to their website, where I found a post on “The Best 2×2 Matrix Of All Time“. You’re not going to believe this, but this spurred me to think about what the most useful 2×2 matrix for digital marketing. You’re also not going to believe this, but I have one front-runner and it’s The eBC Directional Marketing Matrix. Though I haven’t seen it before, I doubt I can take any credit for it since it’s influenced by so many frameworks, particularly McKinsey’s Directional Policy Matrix (aka the “GE Screen”). We’ve just used it so often for so long that our clients associate it with eBoost Consulting. Ergo, I introduce The eBC Directional Marketing Matrix.
The eBC Directional Marketing Matrix
THE PROBLEM WE ADDRESS: the problem that the eBC Directional Marketing Matrix solves is that 2×2 matrices are inherently 2-dimensional. While this is a good starting point for conversation for where the activities are, they don’t identify where the activities are going and how fast and far that activity is going there. This is a severe limitation in any business function, and particularly for digital marketing since the landscape moves so fast. How many times have you heard and/or said, “digital marketing is moving so fast! It’s hard to keep up”?
OUR SOLUTION: The eBC Directional Marketing Matrix is a framework that helps Marketing Managers make smart, informed decisions about what marketing activities to cut, maintain, or push. It helps resource-allocation and cost-allocation.
DIMENSIONS OF THE EBC DIRECTIONAL MARKETING MATRIX:
Axis: the x- and y-axis are the two main dimensions for ROI (impact and cost).
Position of circles: where the activities respectively exist in ROI, currently.
Size of circle: the resources needed for that activity. Larger circle areas need more resources. Smaller circle areas, less.
Direction of circles: where the activities are trending and how fast it is projected to reach there.
I encourage you to try out the eBC Directional Marketing Matrix and review it monthly. Plot where your marketing activities are in the realm of ROI, determine where it’s going, and identify how fast it would take to get there with the resources you have.
eBoost Consulting helps great companies grow through search and social paid advertising. Since 2005 our team of digital marketing experts has been running highly successful digital marketing campaigns with a focus on innovation, results and customer satisfaction.