The budget-urgency matrix profiles customers and leads (potential and existing) based on their budget (ability to purchase) and urgency (need to purchase).
The goal is to identify which of your leads and customers sit on this matrix. By identifying where they sit, you can better position your value offering. From a marketing point of view, you will know where to invest your dollars. From an R&D standpoint, you will know what new products and features you should be focused on.
What do the quadrants mean?
Top-right — budget + urgency. Typically your ideal customers: they have the budget and the urgency to buy. Urgency matters because shorter selling cycles collect and service faster.
Top-left — budget, no urgency. Usually second in priority. The key is to incite urgency, or stay top-of-mind so you are found when need arrives.
Bottom-left — neither. Customers without budget or urgency. Identify them right away and avoid investing in them.
Bottom-right — urgency, no budget. Customers with urgent need but no budget. Some companies offer financing; others wait.
Use the matrix to sort your pipeline before you spend — not after.
