Did you know that developing marketing strategies is key to the organization of any business? Many of my fellow marketers know what I am talking about. But for those of you who might need a refresher or even an introduction to what marketing strategies are and what they do, I encourage you to read on and I will explain and even give you a go-to marketing strategy to use.
So what do marketing strategies help your company do?
Marketing strategies allow your company to set marketing goals and objectives, define target audiences and provide insight on how to distinguish your business from the competition. Now you see why marketing strategies are key to growing a successful and well-rounded company.
There are many great marketing strategies but for today I am going to tell you about one of my favorites. My go-to marketing strategy is SWOT analysis.
So what is SWOT analysis?
SWOT is a structured planning method that allows you to take a step back, brainstorm and determine strengths, weakness, opportunities, and threats for your company. Finding out your company’s strengths and weaknesses will help you address internal factors and issues, while the opportunities and threats will address external factors and issues.
Creating a grid allows you to physically fill in your SWOTs by placing internal and external factors and issues into different boxes. This task may seem uber simple, yet by filling out the chart it will give your company an amplitude of helpful information.
When you approach the SWOT analysis it is important to be open-minded and honest because the goal is to provide you with a realistic view of where your company stands. After filling it in, the SWOT analysis chart will provide you with the necessary information and insights to construct a communication plan that will meet your brand and marketing objects.
Implementing new marketing strategies can be overwhelming, but once you take the time to create your first SWOT analysis you will soon add this to your list of go-to marketing strategies for your company.
Now go get started and share with us any helpful tips you discover!