I love 2×2 matrices. But there are worse crimes I suppose. Of course they oversimplify things, deny shades of grey, limit ‘nuancing’ and so on.
But they work for me.
They help to clarify where we are, where we need to be and can generate ideas about how we get there. Take this 2×2 for example which maps the credibility/utility of the service we offer versus its visibility/accessibility.
High/High – ‘The Real Deal’ or ‘The Hen’s Teeth’
This is the goal. Credible services that work and are visible and accessible to the people they are intended to serve. Likely to have a low marketing overhead as word of mouth and the power of attraction will keep the clients coming. Well evidenced, high value for money services mean that funders cannot afford to withdraw from it.
High Accessibility/Visibility but Low Credibility – ‘All Mouth and No Trousers’ or ‘The Emperor…has no clothes’
This is the norm. Sadly. PR companies on large retainers to buy square inches in the local press. Social media strategies, web sites, leaflets, posters and inspirational strap lines and branding guidelines abound. Every one knows it’s there – but most of us know it doesn’t do ‘what it says on the tin’…The service relies on heavy self promotion to find a continual source of new referrals. Word of mouth strategies including introductions and referrals don’t work. They often have to rely on ‘inducements’ such as soft loans, grants and free lunches to get people to ‘sort of’ engage. They can have plenty of clients on the books but few of them do anything very interesting. Failure rates are high. Many new entrepreneurs soon fall out of love with their ‘dream’ businesses and loan default rates are high. Often have lots of front line staff on the ground all looking for ‘good’ clients. Added value is low. Management strategies involve efforts to ‘bluster our way through’ until the funding stream ends.
High Credibility/Utility but Low Visibility – ‘The Hidden Gem’
So we have a great product and service that does the job – but people don’t know we are here. Don’t worry about it – this situation won’t last for long – perhaps 6 months? If you have a product/service that reliably and consistently does what it says it will do – transforms lives, starts dream businesses and contributes to economic and community development the word will get out. In fact you will soon be winning prizes and if you are smart making serious money. Perhaps give a little thought to promoting a word of mouth strategy – learn how to ask for referrals, and introductions and you will soon have them beating a path to your door. Make sure you can evidence your effectiveness and trademark/copyright your service. It is worth a bomb. This is a great place to be….
Low Credibility and Low Visibility – ‘No Style – No Substance’
Actually not as bad as it sounds. Perhaps most new enterprise services should recognise that this is the starting point and where we might spend most of the first year or two of a new project. Learning about what works in a particular community, about which partners are the ‘real deal’ and which are ‘all mouth but no trousers’. Sniffing out the hidden gems to work with. By deliberately keeping a low profile, but working on the long term impact of our products and services with a modest volume of clients we can gradually build a great service. Once we have moved into the ‘hidden gem’ category we can then make the transition to become the ‘real deal’.
Working with Stakeholders
Of course when we use this in our own services we tend to have a bias towards the ‘real deal’ and ‘hidden gem’ quadrants. But if we ask our clients, our funders, our experienced advisers, or an informed outsider to place us in the matrix then the results can be enlightening and provide powerful clues about the way forward – if we are smart enough and honest enough to listen.
- Is this matrix useful?
- Are you in the quadrant that you want to be in?
- Do you have a clear strategy for getting to be the real deal?