In this 8th instalment in the Prioritisation series: the Opportunity Scoring Method aka Gap Analysis.
It’s pretty straight forward: you ask your customers to rate the importance of your product’s features, and how satisfied they are with them. Focussing on improving the high value, but low satisfaction/ underdeveloped features will enable you to improve overall customer satisfaction effectively. These are your Opportunities!
Next consider the opportunity cost for each of these. No point just highlighting benefits. Also consider the relative costs of addressing each identified Opportunities, including the Cost of Delay. Being first to market vs being a laggard makes all the difference in a competitive environment.
You could summarise this as 3 questions:
What happens if we do?
When should we do it?
What happens if we don’t?
"The most strategically viable opportunities will be those gap-closing initiatives that represent high future value to the company but relatively low implementation costs in terms of budget, resources, effort, or other metrics." (Productplan.com)
First published here.
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