There’s a lot of marketing jargon out there, and most of it is really pretty meaningless.  The exception to this is the SWOT analysis.  A SWOT analysis involves writing down your strengths, weaknesses, opportunities and threats.  And it’s a vital part of your marketing and business plan – one that is often overlooked and underutilized.

Why write out your SWOT?  I would argue that the SWOT analysis is the most important component of your marketing plan.  It gives a down a dirty version of the strengths you can build your marketing around.  It provides the weaknesses you can either try to fix or do your marketing in such a way as to minimize their influence on customers.  The opportunities show you who or where to focus your marketing on and the threats let you know which marketing path to take to minimize them.

If you don’t have time to write out a full marketing plan… at least take the time to write out your SWOT. 

Do you have a SWOT analysis?

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