Proper Planning Prevents Poor Performance
SWOT Analysis
Internal Assessment
- S
Strength
Strengths list everything done right either individually or as an organization. - W
Weaknesses
Weaknesses are aspects of your business that reduce your ability to win.
External Assessment
- O
Opportunities
Opportunities are factors that represent why your business is likely to prosper. - T
Threats
Threats are factors that could place your business at risk for failure.
A SWOT analysis is essential to a digital strategy. See swot analysis examples.
S.M.A.R.T. Goals
- Specific
What is the exact goal you want to achieve? - Measurable
How will you know when you’ve achieved it? - Attainable
Is it something you can realistically achieve? - Relevant
Why is this applicable to your business? - Time-Based
When do you want to achieve your goal?
SMART goals are defined, structured and trackable with clear objectives and milestones.
Market Segmentation
- Geographics
• City
• Region
• Size
• Climate
• Communities
• Countries
• Rural/Suburban
• Urban areas - Demographics
• Age
• Gender
• Race
• Religion
• Income
• Education
• Language spoken - Psychographics
• Budget
• Beliefs
• Values
• Pain points
• Attitudes
• Social/Cultural
• Roles
• Activities - Behavior
• Hobbies
• Habits
• Purchasing styles
• Social media use
• Mobile phone use
• Media consumption
Market segmentation helps define the ideal target audience and customer.
Build Buyer Personas
- Background
• Geographics
• Demographics
• Psychographics
• Behavior - Problems
Make a list of problems you want to solve for buyers. - Goals
Determine your buyer’s motivation is to buy now. - Benefits
Identify the key benefit that you provide to the buyer. - Objections
Answer common FAQs a buyer asks before buying.
Creating buyer personas allows you to get to know your customers better.