It’s Strategic Planning month here at Insivia, so we’re continuing our conversation about how to create an effective marketing plan for 2014. Today, Andy tells us a little bit about taking an honest look at your SWOT analysis as part of your plan.
This month we’re talking all about developing a great strategic marketing plan. This morning I want to talk about creating an honest SWOT analysis. We’re all probably familiar with SWOT – it’s Strengths, Weaknesses Opportunities, and Threats – both internal external factors, and pieces of how you develop a great strategic plan.
One of the things I see when we go in and evaluate a company – whether we do a SWOT or they already have one – is really trying to look at it honestly, and I think thats an important piece. Understand your business, ask people in your organization, ask people who are connected to you, whether its vendors, clients, or others, about your business, about what strengths, weaknesses, etc. you have, and look at it honestly, rather than sugar-coating some of those aspects. Because watering down your weaknesses and opportunities doesn’t help you create an effective strategic marketing plan.
So when you’re look at your SWOT analysis, anytime you’re developing some kind of stagey for your business, make sure that your’e really honest with it and ask people outside your management group to make sure you’re making honest, valuable opinions about where you stand as a business and what your strengths, weaknesses, opportunities, and threats are.