Prioritizing product features or service offerings based on their value to both your business and your customers creates the greatest impact.
This template helps when you’re faced with multiple potential features, enhancements, or offerings, and you need to determine which should be prioritized.
CXT-A01
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Key benefits offered by this template
How to Use This Template
Assess each feature’s Business Value (impact on revenue, efficiency) and Customer Value (user impact, satisfaction). Plot on the matrix’s four quadrants. Prioritize high business, high customer value features first, optimizing resource allocation and strategic alignment for maximum impact.
1) Determine Business and Customer Value:
- Business Value: Assess how each feature impacts key business metrics such as differentiation, customer acquisition, retention, and operational efficiency. Consider feasibility within budget constraints.
- Customer Value: Evaluate how a feature impacts your customer base, targeting priority segments, delivering meaningful changes, and aligning with strategic customer experience drivers.
2) Map the Features:
Plot each feature or offering on the matrix according to its business and customer value. The matrix is divided into four quadrants:
- High Business Value | High Customer Value (Priority 1)
- Low Business Value | High Customer Value (Priority 2)
- High Business Value | Low Customer Value (Priority 3)
- Low Business Value | Low Customer Value (Priority 4)
3) Prioritize:
- Focus on the features in the “High Business Value | High Customer Value” quadrant first. These should be your top priority as they offer the greatest overall impact.
- Features in the other quadrants can be prioritized according to available resources, strategic importance, and business goals.