These are the factors that you have in your company and that contribute or could contribute to its proper functioning : qualified human resources, solid financial resources, etc.
To identify them, ask yourself what your strengths are in terms of resources and production, even those that you are not taking advantage of.
Weaknesses
These are the things that your company lacks and that your competition does have available. It's about what you know you can improve.
To identify weaknesses, ask yourself why your price is higher than your competitors (if you compete on price); or what causes your customers to abandon their shopping carts on your website. The answers to these questions will help you overcome them.
To better illustrate this, I'll give you a simple example of the points that can appear in the SWOT matrix.
These factors were detected in a food production company:
Strengths: qualified and motivated staff, reputation, strategy.
Weaknesses: facilities with obsolete technology.
Threats: Entry of a new food company into the market.
3. Definition of the Target Audience
Who are you targeting? Who are your buyer personas?
Here, you simply need to describe your target audience based on mexico whatsapp number demographics, age, gender, interests, behaviors, and other details you deem necessary to describe their personality and tailor your messages accordingly.
Here is an example of a makeup company. Their buyer persona is described as follows:
Women between 25 and 35 years old who live in Latin America, university students and professionals. They are interested in the latest trends in makeup. They use the Internet to check out video tutorials because they always want to look radiant.
4. Goal Setting
We emphasize the importance of correctly defining objectives according to the SMART technique.
“Increase makeup sales” is a statement that can cause frustration and disorientation for the team, as it leaves out several elements that make it measurable and verifiable.
“Increase sales of compact powder in our online store by 5% during the first quarter of 2024” is a statement that provides measurable elements and allows us to determine strategies and tasks to achieve them.
5. Marketing Plan Strategies and Tactics
This is the reason for all the description, analysis and objectives that we previously set out.
Strategy is the core of the marketing plan, it indicates the decisions made and converted into instructions for achieving goals and objectives. Among them, we mention:
Briefcase
The purpose of this strategy is to prioritize the investment of resources to ensure that they are available to achieve the stated objectives.