In this episode we lay the foundation for building your marketing strategy. This is something really good to have on hand when you’re planning to apply for a business loan, a meeting with an investor, or working with a mentor. This is by no means an exhaustive list of all the elements that anyone could possibly ask you to include in your marketing strategy, but it does lay a very solid foundation for you to add to along the way.
We talk about these 4 elements in this episode:
- The SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats). The first 2 are internal to your business. The last 2 are external and more environmental in nature. You can control the first two and make immediate adjustment to correct or continue on the established path. The latter, you can possibly forecast, and make a plan for, but you cannot control them.
- What is unique about you and the way you do business, your USP. What makes you special and stand out from your competition?
- Define your target audience or ideal client avatar. This is the person or client person you most want to work with. Understand thier demographics, and psychographics. How do they make buying decisions? (Be sure to grab free downloadable Client Avatar Builder below!)
- Define what pain points you solve for your ideal audience. What do your ideal clients struggle with? Does your offer sufficiently release them from that worry?
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