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Prioritizing Growth and Identifying Future Opportunities

As a consultant, I am not alone in saying that often times I find myself in the middle of dynamic projects, ideas and requests. Without a sound prioritization structure, it is easy to lose focus and spend energy in areas of low and/or diminishing returns.

The digital marketing space is a breeding ground for resource-heavy initiatives. Businesses are in the middle of or planning for just a handful of the following projects:

  • Local Search & Marketing Strategies
  • Social Media Advertising
  • Email Campaigns
  • Public Relations Innovation
  • Link Building
  • User Experience Optimizations
  • Video Advertising Campaigns (YouTube)

Unfortunately, simultaneously perfecting every initiative and ensuring flawless execution is not always realistic. This being the case, it is important to prioritize so that resources and energy are spent on areas of high performance and return.

Once understanding your clients’ near-term business goals and organizational structure, considering just two things lead to successful and actionable prioritization.

1. Performance - How well will this project/initiative perform?
2. Execution - To what degree of reality & ease will this project be executed?

Focusing on a high performing initiative that lacks a reliable and stable execution process is not going to provide significant returns.

This three-step exercise is quick and simple enough to be done on the back of a napkin.

Step 1: Write down each project
Step 2: Assign values to each for both performance and execution
Step 3: Multiply values, sort and tackle

Example: Q2 Digital Planning

Note: this is a hypothetical example; performance and execution are dependent on client business structure & goals

5 = High Performance & High Execution
1 = Low Performance & Low Execution

 

 

 

 

With the Combined Score, I now have a prioritized and actionable list of projects. I have a better understanding of where to spend the majority of my time and what projects are going to perform highest while providing maximum returns.

Equally important, this exercise sheds light on client-specific areas of future opportunity. Though “Video Advertising Campaigns (YouTube)” has a low combined score due to difficulty of execution, it represents an area of high performance and helps to guide future forecasting, organization and effort.

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