Summary

The BCG growth-share matrix, originally a corporate strategy tool, is repurposed as a framework for writers to assess and prioritize their writing ideas based on market growth and share.

Abstract

The article discusses the application of the BCG growth-share matrix, a strategic tool developed by Bruce Henderson in 1968, to the field of writing. This matrix, which divides products or businesses into four categories—Cash Cows, Stars, Question Marks, and Dogs—based on their market growth and share, is suggested as a method for writers to evaluate the potential success of their writing ideas. The matrix's quadrants are analogized to different types of writing projects: Cash Cows represent stable, evergreen topics with a high market share; Stars are relevant, high-growth topics with high market share; Question Marks are high-growth but with low market share, indicating potential for success or failure; and Dogs are low-growth, low-share topics with little prospect for success. The article encourages writers to use this framework to strategically choose writing topics that align with their expertise and market demand to enhance their chances of success.

Opinions

The author believes that applying a strategic business framework like the BCG matrix can significantly improve a writer's chances of success.
It is implied that writers with an MBA background or similar strategic training can benefit from leveraging their corporate knowledge in their writing careers.
The author suggests that writers should focus on creating "Cash Cow" content to build a solid, long-term readership.
"Star" content is seen as a potential fast track to recognition and success, though it requires a high degree of expertise and is not accessible to every writer.
"Question Marks" are considered high-risk, high-reward writing projects that can turn into "Stars" with the right effort and research.
The author advises against investing time in "Dog" projects, as they are unlikely to yield success due to low market growth and share.
Personal expertise and market relevance are emphasized as key factors in choosing writing topics that have the potential to become successful.

52-yr Old Strategy Framework To Help Achieve Writing Success

The BCG growth-share matrix can help assess your next writing idea

The growth-share matrix is, put simply, a portfolio management framework that helps companies decide how to prioritize their different businesses. It is a table, split into four quadrants, each with its own unique symbol that represents a certain degree of profitability: question marks, stars, pets (often represented by a dog), and cash cows.

This is the definition of what we today know as the BCG matrix, according to the Boston Consulting Group’s own website. It was created by the founder of BCG, Bruce Henderson in 1968 and at the peak of its success was used by about half of all Fortune 500 companies.

Put simply the framework divides any business or product into 4 quadrants on a graph that has market growth on one axis while market share on the other. The growth refers to the growth potential of the overall market while the share is the product’s market share within that business.

Low Growth, High Share = Cash Cow
High Growth, High Share = Star
High Growth, Low Share = Question mark (potential of becoming a star if market share picks up)
Low Growth, Low Share = Pets or Dogs

Almost a month into my rekindled love for writing, I’ve decided to now assess every potential idea using the BCG matrix.

I have an MBA in Finance and Marketing and close to ten years of corporate experience in related fields, so it only seemed natural to go about writing with a bit of a strategy in place. Here is how you can apply the BCG matrix to enhance your chances of success:

Cash Cows — Low Growth, High Market Share

Characteristics to look for:

Topic — This is best achieved by picking a topic that appeals to a specific set of audience and isn’t for everyone. However, the audience is stable and the content is evergreen.
Expertise— For this to work, you need to have a certain level of expertise in the area that will allow your opinion to be differentiated i.e. gain higher mindshare. A qualified doctor writing about illness, a runner writing about fitness, a blogger writing about blogging, and so on. The higher the depth of the article or story, the better the chance of success.

These are pieces that are likely to garner steady readership for a long period of time without significant spikes or lows.

Advice — Write such pieces as a long-term investment to build a solid portfolio that will continue to pay dividends for a long time.

Commercial Example — Kellogg’s corn flakes are a perfect example of a cash cow — they’re the clear market leaders who specialize in an evergreen category with minimal fluctuations and less competition.

Stars— High Growth, High Market Share

Characteristics to look for:

Topic — Either something that is very relevant in the current context — i.e. work from home, pandemic, mental health, or evergreen but high-growth topics in the near-term i.e. AI, Technology, Entrepreneurship, Writing, Sci-Fi, Fiction, etc.
Expertise — Requires a high degree of expertise or strong credentials to achieve a high market share in likely a highly-crowded market. Given the nature of the domain, there are likely to be a multitude of pieces out there, but you need to find a way to stand out. Add personal perspective, unique lens, creative spin that get readers hooked. A successful blogger talking about SEO, HR professional discussing successful work-from-home strategies, etc. are good examples.

These are pieces that go viral — high spikes of readership that sustain for a significant time, and while they do, they should earn you some solid recognition and money.

Advice — These are hard to find, so don’t chase them but when the opportunity arises, these can gain you a lot of attention, really fast. These are also not for everyone — not everyone may have an expertise in an area that’s also of significant interest. These are your tickets to instant success, so if you have such a high degree of expertise in a topic that is of high interest — go for these ASAP.

Commercial Example — Philips is a good example in the LED market — being pioneers and getting high market share as well as a high growth potential of the overall market.

Question Marks — High Growth, Low Share

Characteristics to look for:

This is literally what the name suggests — a question mark. It has the potential of turning into a star or a dog based on your effort and some amount of luck (or the lack of it). So how you handle this one can be the difference between a dud and a viral piece.

Topic — Similar to the Stars, we’re talking relevant and high growth themes discussed above.
Expertise — This is where you make or break the piece. You may or may not be an expert in the topic or might be fairly well-versed but shy of being an expert. The clincher or the deal-breaker here can be the research you put in, the effort that you make in structuring the piece, as well as a hook for the reader.

Based on how you create this product, this has the potential of being a viral story or a dud. So if you feel strongly about something but aren’t sure how good you’d be at it — put in extra effort to give yourself a shot of pushing out a star vs. a dog.

Advice — These are the black swans, and relevant for the average writer wanting to make it big. The key here is to put in that extra effort in every piece to give yourself a higher chance of turning these question mark into stars, even if many of these end up being dogs.

Commercial Example — Facebook launching Facebook Live — attempting to address a high-growth live streaming market with a low initial market share but the potential to turn into a hit or a miss!

Dogs — Low Growth, Low Share

Characteristics to look for:

Topic —Something is too niche and not enough people care to read about.
Expertise —You don’t really hold any expertise or credentials in the area but just venture out to take a shot at.

Advice — These are pieces that are destined to fail — try saving yourself some time by just dropping the idea before putting any real work into it. You could find the odd success if the stars align in a one-in-a-million cases, but as a strategy, these aren’t your best shot.

Commercial Example — A premium-priced apparel range targeted at a middle-class customer. There’s no real market potential or market share growth to be expected with a product with a fundamental disconnect.

Hopefully, this short test will help you pick your next topic for an article, blog post, book, poem, or any form of writing and position you for a higher shot at success! Happy writing!