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, Is this a marketing strength or weakness? personal verses commercial lines. Why?

2. Your agency’s current sales focus; i.e., Is this a marketing strength or weakness? premium requirements, market niche or restrictions. Why?

3. Your agency’s practice of rounding accounts; i.e., Is this a marketing strength or weakness account-development and cross-sell. 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 Is this a marketing opportunity or a threat? or stable? 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 Is this a marketing opportunity or a threat? country or state? 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 Is this an opportunity or threat? services offered. Why?

2. Evaluate your competition in terms of Is this an opportunity or threat? Why? marketing tools available.

3. Evaluate your competition in terms of underwriting Is this an opportunity or threat? Why? requirements or packaging.

4. Evaluate your competition in terms of price. Is this an opportunity or threat? Why?

5. Evaluate your competition in terms of Is this an opportunity or threat? Why? turnaround time and responsiveness.

6. Evaluate your competition in terms of Is this an opportunity or threat? Why? rating and financial stability. ASSESSMENT OF YOUR AGENCY Examine the attributes of your agency.

1. Describe the marketing support provided by your Is this a marketing strength or weakness? agency. Why?

2. Describe how written business is serviced? Is this a marketing strength or weakness? Why?

3. Describe how business is marketed (quoted, Is this a marketing strength or weakness? marketed, proposals prepared)? Why?

4. Describe your other responsibilities within Is this a marketing strength or weakness? the agency. Why?

5. Describe the agency’s reputation within the Is this a marketing strength or weakness? Community (community involvement, Rotary, Kiwanis). Why?