{"id":78,"date":"2021-03-25T14:09:31","date_gmt":"2021-03-25T14:09:31","guid":{"rendered":"https:\/\/amitaditya.com\/?p=78"},"modified":"2021-04-26T12:33:43","modified_gmt":"2021-04-26T11:33:43","slug":"can-i-offer-you-a-nice-2x2-in-this-trying-time","status":"publish","type":"post","link":"https:\/\/amitaditya.com\/index.php\/2021\/03\/25\/can-i-offer-you-a-nice-2x2-in-this-trying-time\/","title":{"rendered":"Can I offer you a nice 2×2 in this trying time ?"},"content":{"rendered":"\n

Recently Prof. Scott Galloway posted about his infatuation with 2×2 matrices<\/a>.  He aptly described it as “Identifying two factors that define four groups can provide insight into industry dynamics and illuminate pressures and opportunities (sic)”<\/p>\n\n\n\n

If used judiciously a 2×2 bridges strategy & execution, often pointing towards a course of action. But the beauty of it lies in its flexibility. It can be easily applied to any context – ranging from product portfolios to fruit ratings\u2026<\/p>\n\n\n\n

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Image Source: Analyze This Blog Post<\/em><\/a><\/figcaption><\/figure>\n\n\n\n

Galloway’s post prompted me to research into its origins, leading me to stumble upon this wonderful article by Noah Brier<\/a>. It was interesting to learn that although BCG’s Bruce Henderson is often credited with popularizing the 2×2, its origin in the business world can be traced back to game theory and a Russian American mathematician, Igor Ansoff. I highly suggest reading rest of the origin story.<\/p>\n\n\n\n

Now, let’s switch gears and see how a simple 2×2 can help inform your digital marketing strategy. We just need 3 data points from your web or app analytics – Cities driving most of your traffic, Visits\/Sessions and Conversion Rates. Scatter plot this data and apply a 2×2 (can be derived from median or mean values) as shown below:<\/p>\n\n\n\n

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Sample image for marketing strategy analysis<\/em><\/figcaption><\/figure>\n\n\n\n

This view immediately provides us some actionable insights. We realize that cities categorized as Gems (low visits + high conversion rates) are in the need of more brand awareness content whereas Pigeons (high visits + low conversion rates) need more performance campaigns. The overall goal is to move these cities into the Rockstar quadrant. Keep shifting the 2×2 frame of reference to gain new insights.<\/p>\n\n\n\n

There are endless different scenarios in which this can be utilized:<\/p>\n\n\n\n