Master the Growth Strategy Matrix

How to use the Growth Strategy Matrix to boost your business growth.

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Hi, I'm Marco 👋

I'm Chief Product and Technology Officer at a growth-stage company in Italy where I lead both product and engineering teams through big wins, tough failures, and all the dynamic moments in between.

On the other side I'm a solopreneur, or better say, an indie hacker: I design, build and grow personal projects.

I started this journal to capture everything I've learned, and continue to learn, about designing, building, delivering, and growing digital products.

If you want to follow me through this journey:

A few months ago, I wrote an article explaining the theory of Jobs To Be Done: why do people buy a milkshake?

In essence, there’s always a reason driving people to buy a product or service. Your task is to understand this reason, know your customers' needs, and figure out how these needs are currently being met.

Products only find a market when they help customers achieve a goal they’ve been striving to reach, doing it better and/or more cheaply.

This is where the Growth Strategy Matrix, formulated by Tony Ulwick, comes into play. It describes five strategies businesses can adopt to reach their customers.

The Matrix

Let’s build this matrix together, considering two key variables:

  • Job To Be Done: How well the product or service meets the customer’s needs.
  • Cost: Whether the product or service is more or less expensive compared to current solutions.

The matrix suggests that companies can create products and services that are (1) better and more expensive, (2) better and cheaper, (3) worse and cheaper, or (4) worse and more expensive.

Understanding Customer Types

Next, we need to identify which types of customers we could target with a product or service positioned in each of these quadrants: