It Isn’t A New Idea But A “S W O T” Analysis Of Your Business Is Still A Good One

Door Hanger Advertising is an effective way to grow your business. However, all advertising should be part of an overall plan that sets your business apart from the competition and creates a demand for your products or services.

A “S W O T” Analysis is a simple yet effective marketing exercise (first introduced in the 1960’s) that can help a business focus on improving sales.

The initials stand for:

• “S” – STRENGTHS
• “W” – WEAKNESSES
• “O” – OPPORTUNITIES
• “T” – THREATS

You don’t need a marketing guru to conduct the analysis, you can do it yourself, if you are willing to be honest. Start with 4 blank sheets of paper and title each with the headings shown above.

Here are some examples to help get you started:

STRENGTHS could be –
Your location, a one of a kind product or service, a reputation built over the years, your staff, etc.

WEAKNESSES could be –
Your location, similar products and prices offered by nearby competitors, not enough parking, a bad reputation

OPPORTUNITIES could be –
A competitor goes out of business, new homes being built in the neighborhood, new products available from a supplier, using the internet to expand sales, etc.

THREATS could be –
New competitor opens nearby, gas prices go up, temporary road construction, etc.

With a completed analysis, you will be better equipped to develop an effective marketing and advertising plans, including a door hanger advertising campaign.