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How Can A SWOT Analysis Help You Determine Your Marketing Strategies And Improve Your Operations?

Posted by John Kuder
chessboard with pieces in play

What is a SWOT analysis anyway? It’s a process of pulling together a bunch of “You are here” information and using it to plan for the future.

I learned about in in the corporate world, where they just love acronyms. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It’s a simple system to use to organize data from a bunch of useful questions.

More specifically, it’s an in-depth examination of the internal and external factors that can influence the performance of your business, both now or in the future. Both you, as the business owner, and your business need to be considered in all four of these critical SWOT areas.

The information you will gain from performing a SWOT Analysis will prove pivotal as you begin developing a strategic plan for growing your business, and it often serves as the core foundational element for both your marketing plan and your financial plan.

This week’s free video lesson at https://kcgstrategicroadmap.com/#training-video is a 45 minute class on the How-To and the Why of SWOT analysis. There is a new lesson every Tuesday, so don’t delay.

Here are some examples to get you primed:

A STRENGTH could be:

  • Your marketing expertise
  • A new, innovative product or service
  • The location of your business
  • Your quality processes and procedures
  • Any other aspect of your business that adds value to your product or service

A WEAKNESS could be:

  • A lack of marketing expertise
  • Undifferentiated products or services, especially in relation to your competitors
  • The location of your business, which in reality could be either a strength
  • or a weakness
  • Poor quality goods or services
  • A damaged reputation

An OPPORTUNITY could be:

  • A developing market such as social media
  • Mergers, joint ventures or strategic alliances
  • Moving into new market segments that offer improved profits
  • A new international market
  • A market vacated by an ineffective competitor

A THREAT could be:

  • A new competitor in your home market
  • Price wars with competitors
  • A competitor has a new, innovative product or service
  • Competitors have superior access to channels of distribution
  • Taxation is introduced or government regulations are levied on your
  • product or service

Follow These Simple Rules When Creating Your SWOT Analysis:

  • Be realistic about the strengths and weaknesses of your organization
  • Your SWOT Analysis should distinguish between where your business is at today vs. where you want it to be in the future.
  • Use it in conjunction with your Gap Analysis Make sure your SWOT Analysis is highly specific & contains no gray areas or wording
  • Always apply your SWOT Analysis in relation to your competition – are you better or worse than they are?
  • Keep it short and simple, avoid complexity or over analysis Remember that it’s highly subjective and wide open to interpretation

These simple rules should help you create a SWOT Analysis that reveals your
full potential as a business owner, and shows you the best ways to leverage your
business to take it to its maximum potential.

You need to create the systems and processes so your business operates exactly the same way, every single hour of every single day, with or without you being
present. To do this successfully, you must start relying on your strengths. Your
success absolutely depends on it!

The lesson also includes two case studies of businesses demonstrating the application of this technique. One is an attorney specializing in DUI cases. The second is the owner of a Child Care business.

In this lesson, you will also explore how a personality type assessment can be used effectively in your business. This is also topic that we can help you further with.

If you’d like a copy of the 45 page workbook for this lesson, email me at john@kuderconsultinggroup.com and tell me a little about your business and one challenge you’re dealing with. I’ll email you the workbook.

With a subscription to our Online Business Academy, you’ll have 24/7 access to this video lesson and many others. Watch the guided tour video for more information:

 https://kcgstrategicroadmap.com/guidedtour

If you’d like to know how to get trial access to this Academy, fill out the contact form on our Home page or book a time on our calendar for a brief chat.


A Powerful Offer Is The Granite Foundation of Your Marketing

Posted by John Kuder
Weight lifter straining in deep squat

Creating a Powerful Offer

I’m not going to beat around the bush on this one. Your offer is the granite foundation of your marketing campaign.

Get it right, and everything else will fall into place. Your headline will grab readers your copy will sing. Your ad layout will hardly matter. And you will have customers running to your door.

Get it wrong, and even the best looking, best written campaign will sink like the Titanic.

A powerful offer is an irresistible offer. It’s an offer that gets your audience frothing at the mouth and clamoring over each other all the way to your door. An offer that makes your readers pick up the phone and open their wallets.

Irresistible offers make your potential customers think, “I’d be crazy not to take him up on that.” Or “An offer like this doesn’t come around very often.” They instill a sense of emotion, a desire, and ultimately, urgency.

Make it easy for customers to purchase from you the first time and spend your time keeping them coming back.

Cartoon dancing clown

I’ll say it again. Get it right, and everything else will fall into place.

The Crux of Your Marketing Campaign

As you work your way through this program, you will find that nearly everything discusses the importance of a powerful offer as related to your marketing strategy or promotional campaign.

There’s a reason for this.  The powerful offer is, more often than not, the reason a customer will open their wallets. It is how you generate leads and then convert them into loyal customers.

The more dramatic, unbelievable, and valuable the offer is, the more dramatic and unbelievable the response will be.

Many companies spend thousands of dollars on impressive marketing campaigns in glossy magazines and big city newspapers. They send massive direct mail campaigns on a regular basis, yet don’t receive an impressive or massive response rate.

These companies do not yet understand that simply providing information on the company and the benefits of their product is not enough to get customers to act. There is no reason to pick up the phone or visit the store right now.

Your powerful irresistible offer can increase leads drive traffic to your website or business, move old product, convert leads into customers, and build your customer database.

What makes a powerful offer? A powerful offer is one that makes the most people respond and take action. It gets people running to spend more money on your product or service. Powerful offers nearly always have an element of urgency and of scarcity. They give your audience a reason to act immediately, instead of putting it off until a later date.

Urgency Related to Time

The offer is only available until a certain date, during a certain period of the day, or if you act within a few hours of seeing the ad. The customer needs to act now to take advantage of the offer.

Scarcity Related to Quantity

There are only a certain number of customers who will be able to take advantage of the offer. There may be a limited number of spaces, a limited number of products, or simply a limited number of people the business will provide the offer to. Again this requires that customers act immediately to reap the high value for low costs.

Powerful offers also:

Offer Great Value

Customers perceive the offer as having great value more than a single product on its own, or the product and its regular price. It is clear that the offer takes the readers needs and wants into consideration.

Makes Sense to the Reader

They are simple and easy to understand. Read quickly. Avoid percentages, using half off or two for one, instead of 50% off. There are no catches or requirements, no fine print.

Seem Logical

The offer doesn’t come out of thin air. There is a logical reason behind it. A holiday, end-of-season, anniversary celebration, or new product. People can get suspicious of offers that seem too good to be true and have no apparent purpose.

Provide a Premium

The offer provides something extra to the customer, like a free gift, or free product or service. They feel they are getting something extra for no extra cost. Premiums are perceived to have more value than discounts.

Remember that when your target market reads your offer, they will be asking the following questions:

  • What are you offering me?
  • What’s in it for me?
  • What makes me sure I can believe you?
  • How much do I have to pay for it?

The Most Powerful Types of Offers

Decide what kind of offer will most effectively achieve your objectives. Are you trying to generate leads, convert customers, build a database, move old product off the shelves, or increase sales?

Consider what type of offer will be most value to your ideal customers. What offer will make them act quickly.

(See the video lesson for the rest of the content about the six types of offers https://kcgstrategicroadmap.com/#training-video)

Our Chapter Review

Your offer is the granite foundation of your marketing campaign. If you have it right, everything else will fall into place. Your headline will grab your readers, your copy will sing, and your ad layout will hardly matter, and you will have customers running to your door.

The powerful offer is more often than not the reason a customer will open their wallets. It is how you generate leads and then convert them into loyal customers.

The more unbelievable and valuable the offer is, more dramatic and unbelievable the response will be. A powerful offer is one that makes the most people respond and take action. It gets people running to spend money on your product or service.

Powerful offers nearly always have an element of urgency and of scarcity. They give your audience a reason to act immediately instead of later bait.

Decide what kind of offer will most effectively achieve your objectives. Are you trying to generate leads convert customers on database, move old product off the shelves or increase sales?

Create a powerful offer in four steps:

  1. Pick a single product or service
  2. Decide what you want your customer to do
  3. Dream up the biggest, best offer
  4. Run the numbers

With a subscription to our Online Business Academy, you’ll have 24/7 access to this video lesson and many others. Watch the guided tour video for more information: https://kcgstrategicroadmap.com/guidedtour

If you’d like to know how to get trial access, fill out the contact form on our Home page or book a time on our calendar for a brief chat.

We look forward to meeting you!


5 Steps to Position Your Business For Market Domination

Posted by John Kuder

In Part Two of “Creating Your Market Dominating Position”, we briefly review the Dominos example from last week. They dominated their market with one strategic commitment – fresh, hot pizza in 30 minutes or less, or it’s free. They had no seating, no gourmet ingredients, nor a big selection.

What they did was implement a strategy to solve a very specific problem in their market by following a 5-step process.

  1. Determine your strategic position in the market.
  2. Determine your primary market dominating position.
  3. Determine your supporting business model.
  4. Determine your secondary market dominating position.
  5. Create your elevator pitch.

This weeks lesson has three case studies to clarify the process. One is a national carpet retailer, one is an accountant, and the third is a remodeling contractor. You can view it by clicking this link: https://kcgstrategicroadmap.com/#training-video

Like Dominos, you can determine your strategic position by exploring four general categories as you watch the video:

  • Demographics (six areas are covered)
  • Psychographics
  • Your prospects’ business profile (for B2B)
  • The service and price levels you offer

If you have a subscription to our Online Business Academy, you’ll have 24/7 access to this video lesson and the 20+ page workbook that comes with it.

If you’d like to know how to get trial access, fill out the contact form on our Home page or book a time on our calendar for a brief chat.

We look forward to meeting you!


How to Not Only Stand Out, But Also Be The Obvious Choice

Posted by John Kuder

The key to being the dominant force in your market is to position your business as the obvious choice for your ideal clients to solve the #1 problem they have.

Dominos Pizza identified their ideal customer as hungry college students who wanted food fast. Then they dominated their market by offering fresh, hot pizza delivered in 30 minutes or less, or it’s FREE.

This week’s free lesson from our Online Business Academy comes from the first quarter of the 52-week Virtual MBA and is titled “Creating Your Market Dominating Position, Part 1” https://kcgstrategicroadmap.com/#training-video

One key aspect of a Market Dominating Position is creating added value. Many business owners get the idea that customers all want the lowest price. The reality is that people shop for the greatest perceived value relative to the price. They want a great deal!

Obviously, they need the product or service to solve a pressing problem, or they aren’t likely ready to buy. Once they have located a few potential solutions, they want to make a wise choice – the most value for their money.

Many times, we are willing to pay more for the experience that comes with the product, because we perceive value in that experience. It may be convenience, or entertainment, or luxury, or some atmosphere that we find pleasing.

Starbucks creates an experience that people are willing to pay more for.

Customers are forced to shop on price comparison when businesses don’t help them find a better way to gauge value.

Free estimates don’t set you apart from your competition. What will?

Enjoy the lesson and remember that it is part one of two. https://kcgstrategicroadmap.com/#training-video


Close More Sales by Eliminating Risk for Your Customers

Posted by John Kuder

Risk reversal is one of the most effective strategies you can use to make sales online. The concept is simple. You, as the business owner, identify the most common reasons a potential customer would hesitate to buy from you. Then you take the risk on yourself.

This week’s free lesson from our Online Business Academy describes two case studies where a company went beyond a simple guarantee to full risk reversal. Both got massive increases in sales.

It also describes 6 different levels of guarantee and how they work:

  • Level 1: a 30-day return policy
  • Level 2: An extended, 90-day return period
  • Level 3: A try and then buy guarantee
  • Level 4: Guaranteed results or a full refund
  • Level 5: A customer always wins guarantee
  • Level 6: Platinum double-your-money-back guarantee

Level 6 is a very bold move and you’d better know that you can deliver what you promise almost every time. If you can, this can be a market dominating position.

It is smart to test any risk reversal strategy on a small scale first and tweak it based on the results with your customers in your market.

When you understand what concerns your ideal customers have and remove them, they can see you as the obvious choice to do business with.

There is a new free lesson video every week. If you missed the chance to watch this one, it’s inside our Online Business Academy on this website.

Contact us with one of the methods provided and we’ll have a conversation and get you access.