How to Prioritize Features with the impact effort matrix
One of the most popular feature prioritization models is the Impact-Effort Model. The Impact-Effort matrix enables you to elevate your SaaS Feature Marketing strategy to a whole new level. If you want to find the best Impact-Effort matrix template for your SaaS product, click here and go straight to the end of the post.
What is Feature Marketing?
Feature marketing is a Software/SaaS product marketing strategy that focuses on updating existing features or adding new features to an existing product as part of a company’s efforts to retain customers or attract new customers.
How do we manage SaaS Feature Marketing strategy properly?
Deciding – Feature Prioritization.
Developing
Announcing – For a post on SaaS Feature Marketing strategy , click here
The Impact-Effort Model for Feature Prioritization
What is the Impact-Effort Model?
The Impact-Effort model (also called Value-Effort) is a simple model for managing and prioritizing projects and features that startups love. It’s a 2×2 grid. Each square represents a level of effort versus a level of impact. For example, the first projects/features we will focus on will be on the upper-left side of the graph ️Quick Wins. Because their level of potential impact is high and the necessary level of effort is low.
- Low-effort and low-impact: These features, often known as ‘Maybe,’ don’t demand much time or energy but also don’t have much effect. So prioritize me, maybe.
- High-effort and low-impact: Features that require a lot of your time and energy but don’t impact your customers much. These features are often called ‘Thankless Tasks’ because no one will probably send you a thank-you note.
- High-impact and low-effort: These are easy victories, also called quick wins; they have a significant effect with little time or energy required. These are low-effort methods that have a huge effect on your customers.
- High-effort and high-impact: Features that will significantly impact your customers but need a lot of time, energy, etc.
Here are 2 options for Impact Effort Matrix templates
1. Airfocus‘s Impact Effort Matrix template for Feature Prioritization
For those interested in using the Impact Effort Matrix for feature prioritization, airfocus, a German SaaS company, offers a product management and project management platform that includes templates for feature prioritization, one of which is the Impact Effort Model.
Key Features:
- 14-day free trial!
- User-friendly Interface.
- Collect information and feedback from chats, emails, and support in one place.
- User feedback analysis.
- Creating and Sharing roadmaps and views.
- Ready-made templates for Prioritization, Roadmap and Product management.
- Internal and external portal.
- Integration with Online tools such as Slack, Trello, Asana, Zapier.
- Price starts at $19 month.
2. Craft.io’s Impact Effort Matrix template for Feature Prioritization
For those interested in using the Impact Effort Matrix for feature prioritization, craft.io, an Israeli SaaS company, offers a product management platform that includes models for feature prioritization, one of which is the Impact Effort Model.
Key Features:
- 14-day free trial!
- User-friendly Interface.
- Creating roadmaps for project management.
- Building and sharing roadmap strategy.
- Feedback management and analysis
- Integration with Online tools such as Slack, Jira, Miro, Salesforce.
- Guru – Templates for Prioritization, Roadmap and Product management.
- Price starts at $39 month.
Some comments on how to choose the perfect partner, sorry, the best feature to develop first.
- Think about the customer—or rather, your core customer group. Who will benefit the most from the new features?
- You can’t please everyone. Start by pleasing many in one go.
- Be sure to estimate the effort required to develop each feature correctly. Don’t be shy to ask.
- Don’t fall for your product. We do not develop products for ourselves.
- Wrong prioritization can end the business; yes, it happens a lot. Ask your friends who recently changed their status on LinkedIn.
Just some of the topics we covered in this post: Feature Prioritization, SaaS Feature Marketing, Impact-Effort Model, Product Manager, Prioritize Features, SaaS Marketing, Project Manager.
Updated:
01, 2024