Download swot analysis - The PaceSetter Program

SWOT ANALYSIS
State Auto Insurance Company - The PaceSetter Program
NAME:
AGENCY:
After completing this form:
 E-Mail to: [email protected] by June 26
During the sales and marketing workshop you will develop a personal marketing plan which will
guide your sales efforts for the next 12 months. Developing a marketing plan involves matching
the strengths of the products and services you have to offer with the opportunities found in your
marketing territory. SWOT analysis is the tool you will use to identify those situations which offer
the highest potential return on the investment of your time and money. SWOT is an acronym for
Strengths, Weaknesses, Opportunities, Threats.
The attached questionnaire will guide you through an objective analysis of those factors which
impact on your personal marketing plan. You’ll want to include your agency principal and your
PaceSetter sponsor in this activity. The local public library, Chamber of Commerce, and your
State Auto Commercial Senior are also good resources for some of the information required. It
will not always be possible to complete every section.
Please e-mail or fax this completed SWOT Analysis form to
[email protected] and bring a copy with you to
Columbus.
Call us with your questions.
To complete the questions:
Place your curser in each of the boxes below the questions. As you enter
your responses, the boxes will expand to accommodate your answers.
ASSESSMENT OF YOUR CURRENT BOOK OF BUSINESS
Examine the attributes of your current book of business.
1. Your agency's current business mix,
personal verses commercial lines.
Is this a marketing strength or weakness?
Why?
2. Your agency’s current sales focus; i.e.,
premium requirements, market niche or restrictions.
Is this a marketing strength or weakness?
Why?
3. Your agency’s practice of rounding accounts; i.e.,
account-development and cross-sell.
Is this a marketing strength or weakness
Why?
4. Your agency’s retention of current accounts.
Is this a marketing strength or weakness?
Why?
ASSESSMENT OF YOUR MARKETING TERRITORY
Examine the attributes of your marketing territory.
1. Define your current marketing territory.
Radius?
Counties?
2. Do you see any population trends; i.e., growth, decline
or stable?
Is this a marketing opportunity or a threat?
Why?
3. What are the principle industries in your territory?
Is this a marketing opportunity or a threat?
Why?
4. Assess the local economy.
Is this a marketing opportunity or a threat?
Why?
5. How does unemployment compare to the rest of the
country or state?
Is this a marketing opportunity or a threat?
Why?
ASSESSMENT OF YOUR COMPETITION
Identify your three strongest competitors within your marketing region:
(a)
(b)
(c)
Examine the attributes of your competition.
1. Evaluate your competition in terms of products and
services offered.
Is this an opportunity or threat?
Why?
2. Evaluate your competition in terms of
marketing tools available.
Is this an opportunity or threat? Why?
3. Evaluate your competition in terms of underwriting
requirements or packaging.
Is this an opportunity or threat? Why?
4. Evaluate your competition in terms of price.
Is this an opportunity or threat?
Why?
5. Evaluate your competition in terms of
turnaround time and responsiveness.
Is this an opportunity or threat?
Why?
6. Evaluate your competition in terms of
rating and financial stability.
Is this an opportunity or threat?
Why?
ASSESSMENT OF YOUR AGENCY
Examine the attributes of your agency.
1. Describe the marketing support provided by your
agency.
Is this a marketing strength or weakness?
Why?
2. Describe how written business is serviced?
Is this a marketing strength or weakness?
Why?
3. Describe how business is marketed (quoted,
marketed, proposals prepared)?
Is this a marketing strength or weakness?
Why?
4. Describe your other responsibilities within
the agency.
Is this a marketing strength or weakness?
Why?
5. Describe the agency’s reputation within the
Community (community involvement, Rotary, Kiwanis).
Is this a marketing strength or weakness?
Why?