I sat in on an impromptu SWOT meeting last week. While I think SWOT exercises are useful, I don’t think many people understand how to use them effectively. For example, someone in our group suggested that our newsletters were a strength. I had to ask, what made him think that? The answer was, “Because they’re good.”
The thing about strategy and positioning, especially in content marketing, is this: Nothing you offer is inherently good or bad. What you offer—products and services—is only good or bad in relation to other products and competitors. You might have an awesome newsletter, but your competitor’s might be even more awesome.
When trying to create a strategy and position your content products, it helps to consider what your competitors are doing. Let’s say your competitor has a print newsletter. Starting with that fact now gives you a framework for making strategic decisions. For example, you can make the following choices:
Compete head-to-head: Start your own print newsletter. If you go this route, now’s the time to do a SWOT on your newsletters. Compared to your competitor, rank your design, editorial, circulation, etc. according to whether they are strengths or weaknesses. What are your opportunities and threats?
Compete with variation on the theme: Your competitor has a strong print newsletter? Instead of head-to-head competition, maybe a better strategic decision is to compete with an electronic newsletter.
Compete yin to yang: Delivery platforms like newsletters have advantage and disadvantages. Your competitor may have strong newsletters, but the kind of information they transmit is limited by the platform. Perhaps you should position yourself by supplying different types of content to the market. Be the source of other information and its most effective platforms. Instead of using newsletters to market, why not books, podcasts, blogs, video—things that are distinct from newsletters.
Filed under: Content Marketing, Content Strategy, Marketing Strategies Articles, Position Marketing, Content Marketing, Content Strategy
