Analyze your company
A company analysis may help you better understand what you do so you can see how your business operates and as a result affects the lives of your customers or fits in the larger market. Research and record information about what makes your company unique:
Areas of the company in which you would invest time and money if it became available
Projects or departments in which you would cut funding to meet a budget if necessary
How your company outperforms competitors
Areas in which your company could improve
Brand image perception
Competitive advantages in the market such as location, cash flow or quality of staff
Names and types of major product lines or services provided
Short- and long-term company goals
Unique attributes of the brand
Differentiation from competitors' products or services
Analyze your customers
Conducting a customer analysis may help you better understand the role your products play in the public sphere and how to best adjust your business’ image to meet your goals. Research and record information about your current and potential customers to better understand who they are and what they want. Points to consider include:
Creating channels for customer feedback
Determining what factors influence a sale, such as quality, price, uniqueness or convenience
Asking why customers buy your products, such as on impulse or through planning
Defining your current audience
Discovering what customers commonly praise about your products or services
Naming your target audience
Identifying how customers use your website and apps
Uncovering ideal customers
Finding seasonal trends through customers’ purchases
Identifying the best ways to communicate with customers
Figuring out the most successful promotions and marketing strategies
Tracking the number of repeat purchases
Understanding which products receive good, bad or no reviews
Consider your competitors
Conducting a competitor analysis may allow you to see how much competition you have in your market and determine what ways you can outperform your opponents. Consider choosing companies that are similar in size to yours, as well as ones that offer similar products or target the same audience. Items to investigate about your competitors include:
Content and social media presence
Competitor experience (are they emerging or established?)
Marketing strategies
Market strengths
Target audience
Weaknesses
Direct competitors
Items you offer that your competitors don't
Items your competitors offer that you don't
Review your collaborators
Conducting a collaborator analysis may help you determine what areas your company is most efficient in, discover those that may be ripe for expansion or find out which might become obsolete. Make a list of all your collaborators to understand who's involved in your business’s pipeline and the contributions they make to the organization's success. Different items to uncover about collaborators include:
Advertising and marketing staff
Copywriters and content creators
Daily operations managers and employees
Distributors
E-commerce providers
Financial employees and institutions (accounting department, credit card companies and banks)
Financial investors
Freelancers and contractors
General stakeholders
Graphic designers, art directors and photographers
Individual or organizational business partners
Inventory and warehouse staff
Manufacturers
Public relations team members
Salespeople
Shipping providers
Social media managers
Supply companies
Website or app developers
Website domain providers
Analyze your climate
Conducting a climate analysis may help you understand how your company relates and your products are received by local, regional, national or global markets. This line of inquiry may help you find fresh ways to appeal to your target audience. Analyze your climate to understand what factors outside of your own operations or competitive market may affect your sales:
Current popular and unpopular sayings, items or activities of your target audience
Economic forecasts
New or emerging technologies
New or proposed laws
Social trends