Before developing a public relations / marketing campaign plan or implementing its strategies, it is important to first understand the business’ position in the market, its culture, services, and the way it conducts itself in all aspects of doing business.
IMPACT! begins each client relationship by performing a modified SWOT Analysis. For this analysis clients answer a variety questions, which IMPACT! compiles and uses to assist its clients in prioritizing and focusing marketing/ public relations efforts where they will be most effective.
SWOT is short for Strengths, Weaknesses, Opportunities, and Threats.
Strengths and Weaknesses (or better put — Limitations) are internal attributes. Opportunities and Threats are determined by external forces: competitors, and the effect of market, industry and economy factors.
Strengths: A company’s positive aspects…what it does best, and answers questions as:
- What advantages does this company have? How does this compare to others in its industry?
- What does this company do particularly well?
- What resources do they have (people, money, systems, technology, etc.)?
- What does the public see as their strengths?
Weaknesses: This is a list of concerns about a business – what needs to be improved – e.g. culture, financing, employee demeanor, communication, and the like. Here a company’s “undiscussables” are often surfaced, allowing them to create and implement constructive fixes. Here we look for answers to questions such as:
- Are there things this company should “erase” right now?
- What should they avoid?
- What do they do poorly?
- What needs improvement?
Opportunities: These are external openings that allow a company to be even more successful. (Often we refer back to a business’ strengths to see if they can serve as the catalyst for new opportunities). The following are the types of questions we try to answer:
- What opportunities are staring this company in the face?
- Are there interesting trends that they can take advantage of?
- What marketplace changes can enhance the way they do business?
- Are there new technologies available that can save them time and money?
Threats: These are normally associated with a business’ external environment – competitors, the economy, current events, trends, etc. (However, we also look inside a business because their own weaknesses can become their worst threats). They include factors that may have a negative impact on a business – the things that cause anxiety. The following are the types of questions we try to answer:
- What roadblocks does this company face with customers, time, money, employees, etc.?
- What are their competitors doing better?
- Are they facing significant changes in requirements for conducting their business? If so, what are they?
- Are they under-financed? Do they have a great deal of bad debt?
- Are their weaknesses serious threats to growing and maintaining their business?
By supplying IMPACT! with answers to specific set of questions, IMPACT! compiles your data and uses the information as a foundation for your personalized Marketing and Public Relations Plan.
Leave a Reply
You must be logged in to post a comment.