Budget Urgency Matrix
What is the budget-urgency matrix
The budget urgency matrix profiles customers and leads (potential and existing) based on their budget (ability to purchase) and urgency (need to purchase).
The goal of the budget-urgency matrix
The goal is to identify which of your leads and customers sit on this matrix. By identifying where they sit, you can better position your value offering.
From a marketing point of you, you will know where to invest your dollars on. From R&D stand standpoint, you will know what new products and features you should be focused on.
What do the quadrants mean?
The top-right quadrant are typically your ideal customers. These are the customers who have the budget and need to buy your product. Now why do I use the word urgency versus need? It is because you want to go after customers who have a shorter-selling cycle – this way you can collect and service much faster.
The top-left quadrant are usually second in priority. These are customers who have the budget, but they don’t have the urgency to buy your product or service. The key here, is to see how you can incite urgency in these customers, or find a way to stay on-top of mind when they are in need of your product or service.
The bottom-left quadrant represents customers that don’t have the budget or urgency for your product. These are customers that you should avoid and identify right away.
The bottom-right quadrant represents customers have the urgent need for your product, but they don’t have the budget to purchase your product. Some companies like to provide financing, leasing, and other products to help this particular segment of customers – whereas others simply avoid that group.
As one of Canada’s leading digital marketing agencies, we help our clients with using the Budget-Urgency Matrix. We create custom campaigns that better position their value offerings so they can generate