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Do you know your market?

Now it’s time to combine all of your research and knowledge about your customers to create your SWOT analysis for your business.

 

  1. What are your strengths?
  2. What are your weaknesses?
  3. What are your opportunities?
  4. What are your threats?

 

Now ask yourself these questions:

  1. Do you know your customers/consumers and do you know what pain points your service solves for them?
  2. Have you examined your competitors and understood what factors you are competing on, and why customers may choose to use them?
  3. are you confident you have a good range of data you can base decisions on?
  4. Do you understand how customers and consumers respond to marketing messages that solve their pain points?
  5. Have you carried out a SWOT analysis to understand what internal and external factors can affect your business?