Choosing your next market shouldn’t feel like betting on a roulette wheel. Yet, many companies expand based on gut feel, recent hype, or where a competitor went and then wonder why traction never comes. At EntryMapper, we’re big fans of matrices, not just because they look neat in a slide deck, but because they cut through the noise, remove bias, and create alignment across your team. In this step-by-step guide, we’ll show you how to build your own custom weighted scoring matrix for market selection, complete with a free template you can use right away.
Want to skip to the spreadsheet? Download the EntryMapper Market Selection Workbook, our free, customizable tool designed to help you shortlist the right markets in record time.
When you’re planning international expansion or selecting your next domestic target market, decision-making can get political fast. A scoring matrix gives you data over opinion and reduces emotion-based decisions. It helps you align your team, so everyone evaluates markets based on the same agreed-upon factors. It promotes efficient prioritization and adaptability, because your matrix evolves as priorities change or new data becomes available.
This structured approach is the foundation of a market scoring framework, one of the most reliable ways to compare opportunities side-by-side.
Start by listing the factors that matter most to your business. Common examples include:
Tip: Keep the list to 5–7 key criteria to avoid overcomplicating the process.
Not every factor should carry the same influence. If market size is crucial, give it a higher weight. If cultural fit is less important right now, give it less.
For each market under consideration, rate it against every criterion using a consistent scale (e.g., 1 to 5, where 5 is best). Base these scores on real data (market research reports, competitive analysis, and trusted sources).
Multiply each score by its weight, then sum the results for each market. Here’s a simplified example:
The scoring matrix is a decision-support tool, not a decision-maker. Use it to narrow down your shortlist, but remember to revisit it quarterly. Market conditions, regulations, and competition can change quickly.
A scoring matrix is one part of a broader market selection framework. To make truly informed decisions, you also need deep market analysis, risk assessment and validation. This is where the EntryMapper comes in. Our Market Selection Workbook is a preview of our matrix and brings together your scoring matrix, data analysis, and prioritization into one streamlined, shareable tool.
We’ve done the heavy lifting so you can focus on what matters. Our free Market Selection Workbook lets you:
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