Laura Wiegert and Mark McLaughlin Chamber Café January 24, 2012
SWOT AnalysisStrengths Weaknesses Opportunities ThreatsEvaluating your business and the market
Strengths Internal – within your business Your company’s strengths; foundation Personal education/experience Facilities and equipment Financial resources Location Examples
Weaknesses Internal – within your business Weaknesses you need to overcome Personal education/experience Facilities and equipment Financial resources Location Examples
Opportunities External – in the marketplace Opportunities to take advantage of Demand for product/service Competition Regulation; required Demographics Socio-economic factors Examples
Threats External – in the market place Threats that may be barriers to success Demand for product/service Competition Regulation; required Demographics Socio-economic factors Cost for supplies, employees, space Examples
Marketing Plans Made SimpleMy Marketing Plan Basic plan – focus on small business Build your plan during this presentation
My Marketing Plan 1. What is the reason for my existence?
My Marketing Plan 2. What sets my business apart from the rest?
My Marketing Plan 3. Who else does what I do?
My Marketing Plan 4. Who is my ideal customer(s)?
My Marketing Plan 5. What’s most important to my ideal customer?
My Marketing Plan 6. What do I want to accomplish this year? Be specific; Measurable Timeline Financial target Number of customers Number of services/products sold Expansion of building completed Education/training completed
My Marketing Plan 7. How am I going to get there? Marketing Activities (Details later) Actions to take step by step Promotions Hiring staff Borrowing money
My Marketing Plan 8. What message will trigger my customer to think of my business? Related to #5 – What’s important to my customer? How to communicate Appearance Sound Timing Key words
My Marketing Plan 9. How much money will I need to get it done? Consider all expenses Pay and benefits Rent and utilities Insurance Advertising License fees Equipment Remodeling Supplies What may be unique to your business?
Marketing Activities Worksheet SAMPLES in your packet:Open HouseCustomer Referral ProgramPromotional Mailer
Marketing Activities Worksheet NEWSLETTER 1. Action 2. How completed 3. When begin and end 4. Who is responsible 5. Where will the activity take place 6. How much will the activity cost 7. How will it contribute to profitability 8. How do I track effectiveness