Image this: You simply completed a inventive brainstorm, stuffed with enthusiastic new advertising and marketing concepts out of your colleagues. Espresso fueled, you open up the Google Doc, buzzing with potential viral hits and Webby contenders. You’ll be able to’t wait to get began on subsequent quarter’s planning.
Then, it hits you.
How do I even select what to do subsequent?
Regardless of which space of promoting you’ve labored in, you’ve doubtless handled the nice white whale of excellent thought prioritization.
A naturally inventive endeavor, advertising and marketing could be riddled with dreamy concepts which are all fairly cool or attractive to attempt, but it’s naturally unattainable to perform all of them.
Easy prioritization (marking issues as vital vs. pressing) can typically be sufficient to maneuver ahead. However constructing a advertising and marketing machine that’s repeatable and scalable can profit tremendously from an easy, constant framework to vet each new thought.
Whereas many of those frameworks are born from the product world of function prioritization, they will also be a useful instrument to vet giant campaigns, experiments, new channels and web site optimizations to your model.
Listed here are three easy prioritization frameworks that enable you separate high-quality concepts from the group.
Three prioritization frameworks:
Worth/Effort Matrix
Probably the most easy frameworks to begin with is a 2×2 precedence matrix that exhibits concepts on two axes: worth and effort.
Within the case of promoting campaigns or content material concepts, the idea of “worth” could be subjective: Both worth to the enterprise (if it’s a model or revenue-generating marketing campaign) or worth to the viewers when it comes to the kind of data it offers. The trouble refers back to the effort and time it could take to get the thought off the bottom. The two×2 matrix is an efficient filter because it primarily permits you to bucket your concepts into 4 quadrants:
The Fast Wins: Excessive Worth, Low Effort
Concepts which are fast to perform, resonant with worth and would take minimal effort—both few stakeholders or little time to finish. Sharing a meme on social to get your model into the dialog or a small optimization in your web site to dramatically change conversion charge might fall into this class.
The Large Bets: Excessive Worth, Excessive Effort
Concepts concurrently excessive in worth and excessive in effort are value pouring power into however could be thought-about riskier due to the hassle concerned. Reframing them as “massive bets” acknowledges the danger and worth. One thing like a Superbowl industrial, which has virtually assured consciousness and model impression, might fall into this class.
The Backups: Low Worth, Low Effort
Low-effort concepts are sometimes value doing just because they’re low funding, however ones within the “low worth” quadrant could be thought-about backup concepts–good to have, however normally good to fill within the gaps if there’s time.
The Time Sinkers: Low Worth, Excessive Effort
Also referred to as the cash pits or white elephants, these are those it’s best to intention to keep away from. These concepts could possibly be thought-about bold, nevertheless it’s a simple filter to your checklist if they provide again restricted returns, have an unclear influence or have an particularly heightened threat.
Whereas they may look like massive bets on the surface, the perception and information behind them (or lack thereof) can plummet them shortly. Take one thing like making a music video or having your engineering group make a enjoyable pop-up in an app–each concepts appear cool however actually labor intensive. They might not be the primary candidates to prioritize.
Finally, it begins with aligning what “worth” means to the group and what funds constraints exist. It’s uncommon that cash will get persistently poured into massive bets.
PIE Framework
The PIE Framework builds on the Worth/Effort matrix by breaking down worth a bit additional. PIE stands for Potential, Significance and Ease.
Potential
Potential refers back to the influence primarily based on the scale of the viewers, and extra particularly for experiments, an estimated raise to a metric (like visitors to an internet site or conversion charge on a sign-up web page). A marketing campaign with excessive potential could possibly be run on a high-volume channel or broadcast to a big viewers.
Significance
Significance refers back to the influence primarily based in your firm goals. This is a crucial lever away from the Worth/Effort Matrix since there could possibly be very vital firm initiatives that don’t have particularly excessive potential. These are the stuff you merely should do.
Ease
Ease refers back to the complexity and time calls for of the implementation, similar to effort from the Worth/Effort Matrix. Something that takes time, has technical dependencies or requires many cross-functional stakeholders would proceed to be excessive.
Implementing the PIE framework is so simple as itemizing concepts and giving them a PIE rating, rating every dimension from 1 to five. On this case, a 1 can be very low viability (low attain, low significance and extremely advanced) whereas a 5 throughout the board might sign an enormous win.
Whereas one thing like a Superbowl spot could possibly be unimaginable for the corporate, it additionally requires much more funding than posting a Little Miss Meme. This framework is a straightforward strategy to rank-order initiatives by placing extra thought into what potential and significance means for every thought.
RICE Framework
Taken from the world of product administration function prioritization, the RICE Framework works equally to the PIE Framework by including a brand new element: private confidence. RICE stands for Attain, Influence, Effort and Confidence.
Whereas Attain, Influence and Effort are pretty simple to attach again to the definitions of worth and energy within the above frameworks, including confidence as a lever permits you to devalue concepts with much less perception or information backing.
Whereas a back-to-school video might have scored extremely in a PIE Framework, it could possibly be one thing completely new or dangerous for the corporate to attempt–including the arrogance lever permits you to levelset.
When must you prioritize?
Prioritization is usually a double-edged sword–whereas it does enable you higher rank and manage concepts, there are additionally many instances when prioritization can sluggish you down.
For larger corporations, urgency can take over priorities often. New bugs, PR emergencies and reactive wants are alive in each firm and might typically trump formal prioritization.
For smaller corporations, prioritization may be futile due to the inherent stage of threat. Nearly each thought could possibly be a “massive wager” or “time sinker” just because it hasn’t been performed and there are useful resource constraints.
However, if in case you have a lot of concepts and also you wish to promote some greater than others, prioritization cannot solely be a great way to seek out patterns in your finest concepts, nevertheless it will also be a strategic strategy to present that you’re acutely aware of analysis.
One problem in a company setting is developing with a particularly thrilling thought and eradicating ego from the equation to drag the plug on it earlier than it goes too far. Frameworks assist you to stay goal, eradicating your personal emotion from planning and judging all the things on the identical advantage.
On the very worst, prioritization frameworks can assist you suppose deeply about what “worth” means for the group and make you a greater strategic marketer in flip.
Able to take your prioritization to the following stage? Get a lesson from Sprout’s social media group on speaking your social media advertising and marketing priorities to exterior stakeholders.
