was successfully added to your cart.
Tag

swot analysis Archives - Syneka Marketing

Being Strategic

Being Strategic Through Marketing

By | Advice for Businesses | No Comments

In February, through our blogging and social media presence, we covered the need for businesses to be strategic.

We began by looking at the SWOT analysis. We discussed the importance of using this tool to draw insights about your business. We followed this by explaining some case studies that demonstrated where marketers have used insights to deliver campaigns that effectively reach their target market.

We ended the month by going back to the basics and discussed the need to redefine marketing. A professional marketer can provide you with the right strategies to grow your business and this drives our passion to redefine marketing.

In March we will be covering the topic of transforming plans into action. Stay tuned for more from our video series.

Beyond the SWOT – Revisiting this elementary tool

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities, Government, Resources | No Comments

The SWOT analysis (the consideration of strengths, weaknesses, opportunities and threats) is a tool that is often incorporated into most business and marketing plans. While the SWOT analysis may be trivialised, it can provide a suitable starting point to assess your current context.

A SWOT analysis looks at both internal factors (the strengths and weaknesses internal to your business) and external (the opportunities and threats that exist externally). Your SWOT analysis will only be useful if you clearly distinguish between these internal and external factors.

A SWOT Analysis lets you review the internal and external factors influencing your business.

A SWOT Analysis lets you review the internal and external factors influencing your business.

The Internal Factors

Understanding the distinction between internal and external factors is key to developing a SWOT analysis. Internal factors are those that are entirely controlled within your business.

Strengths

A SWOT begins by exploring your strengths. These are internal attributes that are stronger in your business when compared to your competitors or the broader industry. Consider factors such as assets, staff, or processes that give your business an advantage above others.

What is it that you do better than your competitors and why is it important? Leveraging your strengths enables you to develop a competitive advantage.

Weaknesses

Weaknesses are the areas of your business that are weaker, relative to comparable organisations. Explore the capabilities of your business, such as staff constraints, production barriers or policies.

What limitations exist for your organisation, and why are these an issue? Weaknesses may need to be mitigated to prevent adverse effects on your business.

External Factors

External Factors are dependent on factors that are beyond your immediate control. For example, these elements may be influenced by competitors or broader industry trends.

Opportunities

Opportunities are areas of potential growth, or activities that could be undertaken by your business. Consider new markets, such as demographics that could be interested in your products or services, or adaptations that could enable you to encourage repeat purchases.

Why do these opportunities exist and what is required to pursue them? How feasible is it to develop these opportunities, and what is their likelihood of success? Remember that opportunities need investment to be realised.

Threats

Threats are aspects that may pose a risk to your business. Examples include new competitors, regulations, economic conditions or industry trends that will have a detrimental impact on your business.

How likely are each of the threats and what would be the potential impact? How can you mitigate these threats to minimise the potential ramifications? Understanding these threats lets you consider how best to allocate resources towards mitigation.

Undertake the Analysis

While it is often easy to list multiple items, it is important that you also consider the context behind each entry. Clearly identify why an item should be listed within one of the components and consider the broader context.

For example:

  • What are the ramifications if a threat is not mitigated?
  • Are your weaknesses able to be exploited by competitors?
  • Can you leverage your strengths?
  • Are you able to develop the identified opportunities?

These are some of the questions that you should be answering as you develop your SWOT analysis. Remember that a SWOT is only useful if you do more than just list items, ensure that you add the analysis as well.

Alex delivered the presentation the value of consistent marketing messages in creating innovative partnerships at the 2011 National Conference on Volunteering

Presentation: The value of consistent marketing messages in creating innovative partnerships

By | News, Presentations, Resources | One Comment
Alex delivered the presentation the value of consistent marketing messages in creating innovative partnerships at the 2011 National Conference on Volunteering

Alex delivered the presentation the value of consistent marketing messages in creating innovative partnerships at the 2011 National Conference on Volunteering

I was one of the presenters at the National Conference on Volunteering, speaking at a session during the afternoon on Tuesday. My presentation, the value of consistent marketing messages in creating innovative partnerships, utilised Eastern Volunteers as a case study in guiding the development of marketing messages and the formation of partnerships.

I began the presentation by discussing the services and structure of Eastern Volunteers. This helped provide context for the presentation and introduced the organisational areas of transport, volunteer recruitment and marketing, which form the core services delivered by Eastern Volunteers.

After providing this context I was able to discuss the steps required for utilising marketing in creating partnerships.

Firstly, there is a need to identify the strengths of the organisation. Strengths can be identified through a traditional SWOT analysis, which should highlight the areas of high performance within an organisation. These strengths can often be delivered as potential value when forming partnerships.

Once strengths have been identified, there is a need to determine the target market that the organisation wishes to reach. The identified target market should respond favourably to the identified strengths. For example, businesses identified as potential partners for Eastern Volunteers are those that have regional autonomy and an active customer base in the areas serviced by Eastern Volunteers.

It is imperative that value can be demonstrated to potential partners and where possible this should be quantified to demonstrate tangible benefits. While many organisations cite the readership of their newsletters, it is often useful to identify the demographics of your readers and their relationship to your organisation. Likewise, it is useful to include statistics from your organisation’s social media presence and website to further demonstrate reach. Website statistics can demonstrate how long someone spends on your website and how they engage with this content. This can be useful information to highlight how people connect with your organisation.

In the instance of Eastern Volunteers, the organisation reaches approximately 400 community organisations who are listed for volunteer vacancies and over 1000 volunteers who are interviewed on an annual basis.

One form of partnerships is a traditional sponsorship approach to supporting community organisations. Sponsorship is often used to support events and it is beneficial to clearly define sponsorship categories so that sponsors are clearly aware of the benefits and expectations.

Depending on the event there are often opportunities to create multiple categories of sponsorship, such as primary and secondary sponsors. It is imperative that there is tangible value to distinguish each sponsorship category and to make the additional cost difference beneficial to the sponsor. Try to make sure that there are opportunities for sponsors to participate in the event, as this increases the likelihood of future sponsorship and provides opportunities to upgrade the level of support.

Eastern Volunteers has been able to form ongoing partnerships utilising the approach of identifying strengths. In regard to Eastern Volunteers, the longevity, stability and networking ability of the organisation are definite strengths. This means that a partner can reach other community organisations and businesses through Eastern Volunteers knowing that the organisation is trusted and reputable.

This approach assisted Eastern Volunteers in forming an ongoing partnership with the Bendigo Community Bank Branches of Heathmont, Mooroolbark, Mt Evelyn and Ringwood East to provide an ongoing series of Business Breakfasts for the local community. The breakfasts assist Eastern Volunteers in networking with businesses and community organisations and assist the participating branches in meeting prospective clients.

Likewise, a similar partnership was formed with the Maroondah Leader providing a monthly feature on volunteering by profiling volunteers in the community. Eastern Volunteers utilises its networks in finding potential volunteers and articles for the Leader, while the newspaper demonstrates its interest in the community by including volunteer opportunities and editorial from Eastern Volunteers.

These partnerships were formed through an understanding of the organisational strengths of Eastern Volunteers and how they offered value to potential partners. While strengths differ between organisations, there is an opportunity to utilise these strengths to create mutually beneficial partnerships with businesses.
Read More