- Analyze your business situation to create a better informed marketing plan.
- Evaluate your strengths across each marketing platform.
- Learn to see threats as opportunities to try something new.
Who are you, and why would I pick you as a real estate agent?
When you are developing a marketing plan, it’s crucial to analyze your situation and determine your business opportunities.
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Here are a few things you want to consider:
1. What are my strengths?
Let’s look at this in relation to all of your marketing platforms. Ask yourself, “What my strengths, and the strengths of my services and products?”
- Strong points
- Brand image
- Marketing programs
The key to your success is your strength!
[Tweet “The key to your success is your strength!”]
2. What are my weaknesses?
Be honest with yourself so that you can either turn those weaknesses into strengths or get rid of them completely.
- Weakness of products
- Brand image
- Marketing programs
3. What are your opportunities?
- Hot new growth areas
- Exciting new ways to reach prospective buyers
4. What are my threats?
Definition of a threat: External trend or change that can reduce your sales or profits and make it hard to achieve your goals.
- New technology
- Competitors
- Economic shifts
Turn these threats into opportunities. Here’s a few examples:
- New competitors can become new products
- Economic problems promote fresh ways to promote or sell
- Loss of customer base is a reason to pursue new customers
Respond by making your weaknesses your strengths and reframing business problems as challenges.
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Melinda Goodwin is Luxury Home Division Director with Engel & Volkers St. George, Utah. Follow her on Twitter or Facebook.
