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Growth by Expanding Product Ranges – The Ansoff Matrix

In this 6,000-word comprehensive guide, we will use the Ansoff Matrix to explore the hidden growth potential in your business. We’ll discuss how eCommerce has made “no-go” areas of expansion the “go-to” place for those businesses experiencing exponential global growth.

This whitepaper walks you through the strategic growth options for your business and gives practical guidance and examples. It will challenge your current thinking and demonstrate why eCommerce makes expanding into previously designated high-risk areas much more accessible.

In reading this whitepaper, you’ll get a full overview of:

  • Understand the Ansoff matrix and how it applies to eCommerce
  • Walk through the 4 key expansion strategies
  • Clear practical examples of how these strategies apply to product ranges
  • Understanding how you can deploy these strategies to boost your growth

We explain how extending your existing product range, doubling down on your best sellers, and adding new complementary lines fit into the overall strategy. Find out why technology is key in creating seamless online experiences, regardless of where your customers are. Processes such as creating, validating, and optimizing your products’ data, images/videos, and supporting documents for different marketplaces/countries can be totally streamlined.

Get your products to market ahead of your competitors and position yourself as the go-to online retailer for anyone looking to make their latest purchase. All in all, you’ll discover how to create a scalable, sustainable business model that enables you to grow through your eCommerce offering.  

Access the whitepaper for free now: Growth by Expanding Product Ranges – The Ansoff Matrix

Drive growth

Sharpen your competitive edge

Boost customer loyalty

Increase revenues

Extend product reach

What is the Ansoff Matrix and why should I care?

The Ansoff matrix is a simple effective tool that can help businesses weigh the options and risks involved when making strategic growth decisions. The matrix outlines four possible avenues for growth, which vary in terms of risk. If you ignore these principles, you may be implementing high-risk strategies when an easier growth path exists.

Why should you expand your product range?

You have invested heavily in your brand to create a loyal customer base who trust you and enjoy the products and service you delight them with. Extending your product ranges into similar or adjacent lines that resonate with your brand will be rewarded by more customers buying more from you. As a result, you’ll see increased average order value and revenues.

What are the advantages of expanding your product range?

Adding new product ranges will drive customer loyalty, increase basket size, and accelerate new customer acquisition. Overall, it gives your customers more reason to keep coming back and recommend your brand to others.

How do I get the most from a product range expansion strategy?

A successful product range expansion will be heavily dependent on you leveraging the resources you have to hand, as well as making the most of various distribution channels. In other words, it will increase the complexity of your business. So, deploying the right technology will enable you to accelerate growth and outpace your competition.

Brands driving growth with Pimberly:

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JD Sports logo
Ellis Brigham Mountain Sports logo
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Marshalls logo
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Freemans logo
Foot Asylum logo
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Access the whitepaper for free now: Growth by Expanding Product Ranges – The Ansoff Matrix