You may not realize it, but the more you know about your business, the better you’ll be at branding your paws to just the right audience! A SWOT Analysis will help you to visualize your company, what it does, with whom you’re competing with, what problems you are facing, and what type of audience you need to target. SWOT acronyms “Strengths, Weaknesses, Opportunities and Threats”. To examine these very sensitive points of your business may seem to be small and useless at first glance. But if you take time to do a little bit of research and learn more about who and what your business is all about, you’ll be able to BUILD YOUR BRAND on who and what your company is all about and direct your services or products to people who have an interest in what you do. Here’s a few things to PAWnder on when you begin writing your SWOT Analysis:
- When you’re pulling together your SWOT Analysis (or SWOT matrix), think about what makes your company competitive with others in the same industry. Even better, what makes your company strong enough to even be in the running? What kind of competition are you faced with and how do you plan on dealing with that competition? Think out-of-the-box on how you can stand out above your competition!
- Is there a financial lock to keep you from moving forward with your business plan or have you found ways around that through investing or bartering talents?
- What opportunities are there for you and the services or products you offer? Could it be economically related? Could it be something unique and different that you’re doing aside from your competition?
- What threats lie ahead for your company, and how do you plan on alleviating those threats so that your company can still survive and be profitable? Does your website need a fresh, new look to better brand your business? Have you thought about ways you can uniquely approach your audience to break into the competition?
SWOT-ting Your Paws will make it easier for you and your marketing and branding specialist to determine the best way to turn your business into a brand that people will more than likely be drawn to… That is, the Right People, in all the Right Places, and at just the Right Timing! Don’t just pull things out of the air when you’re doing your analysis. Do research on your competition, find out more about the customers you want to target, research how strong the services or products you offer are currently in demand, and do some financial estimates amongst other research to be sure your SWOT is useful.
Take careful planning while constructing and building your brand. Going in with blinders on will only cause you wasted time and energy. The more you know about your business, the more you’ll know who your customers are, how to build your brand’s identity, and how to market your brand to that precise audience. It may take time, but it’s well worth diggin’ your paws into!