- 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.
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!
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.
Melinda Goodwin is Luxury Home Division Director with Engel & Volkers St. George, Utah. Follow her on Twitter or Facebook.
