How to create a killer situation analysis

​Whether you’re presenting or just getting up to speed, don’t miss a detail.
 
You’ve got a new client. Or even just a prospect. Either way, you need to get up to speed fast on their situation: How well they’re doing, what challenges they face, the nature of the competition, external forces such as regulation or emerging technology, etc. This calls for a situation analysis. Sometimes, this task is an ostensible part of your assignment. Other times, it isn’t—but it’s just as important for your own edification. Either way, it’s a great way to get educated quickly; just make sure you check off all the essential boxes as you go:
 
Start internal. This is seemingly the easiest part. But it’s also big. Begin with the client’s website. See how it’s structured. Deduce who it’s aimed at. Never assume that it’s been done well or correctly. Just because it focuses on, say, one prospect or solution, that doesn’t mean that it should. Question everything.
 
Read as much of the site as you can. Copy and paste intriguing passages (“Why did they do that?”) into your notes. Pay as much attention to what isn’t there as what is. For example, “Why is there no secure portal for dealers?” A simple question like that, presented to the client, can open massive doors for you.
 
Extra, extra. Be sure to check out the “Press Room” or “News” portion of the site. Open any press release. Scroll to the bottom. Read the last paragraph. That’s called the boilerplate, which quickly describes the company. Is it what you expected to read? Or not?
 
Then scan through the press releases, chronologically. See what’s been happening over the past year or three. Granted, everything you read will be presented in the best possible light, so don’t expect to learn about contracts lost, lawsuits filed against the company, and so on. But you will learn about big wins, important personnel promotions, acquisitions and divestitures, successful settlements, etc. This is invaluable information to help you get up to speed.
 
Go public. If your client is a public company, check out their latest annual report. It will contain text about recent internal initiatives you may not find elsewhere, as well as hard numbers that can help you wrap your head around the overall enterprise.
 
Now go external. Simply Google the company. What hits do you get? What information do you get that wasn’t presented by them? Then do a Google News search. This can be invaluable. Here you’ll learn the stories that weren’t allowed into the “Press Room” section of the client site. If something big comes up in your search, keep digging and reading. Copy and paste pertinent notes. Keep a log of all the url’s you visit, so you can refer to them later if needed.
 
Call out the competition. By now, you should have a good idea of the names of some of your client’s key competitors. Visit their sites. Visit their press rooms. Do Google and Google News searches on them, too. More often than not, you’ll find missing pieces from your situation analysis which will tumble nicely into place.
 
Uncover trends. This can sometimes be hard to search on, but it’s worth the work. You can search, literally, on “Trends in X Industry” and see what you get; ditto for doing a news search. Knowing about sales trends, technological advances, regulatory shifts, media coverage, and so on will make you better informed. But beware: You can Google until you’re blue in the face, but this will not make you any kind of expert. The best you can hope for is to be able to converse intelligently with your client. You can be pretty confident that they’re on top of these trends because they’re at the front lines of them every day. So no matter how much you learn, stay humble.
 
Interview. If you’re able, conduct interviews with key players in the company, and/or outside subject matter experts (SMEs). Note that this step is listed last; you don’t want to waste these individuals’ valuable time learning stuff that’s posted on the company home page. If you’ve already signed an NDA, ask them to share internal materials with you, such as prior consulting reports, marketing studies, and so on.
 
Organize. If you compile all your information into the format suggested by this article’s subheads, you’ll be in good shape, whether you’ll be presenting this to the company or simply assembling it for yourself or your team. Nowhere is the adage “Knowledge is power” more apt than in the creation of a good situation analysis. It’s the difference between approaching a new account as an outsider, or as a trusted expert who’s ready to gain admission to the inner circle. Which would you prefer?
 
Consider getting help. Crafting a killer situation analysis takes a lot of time and effort. Following the above best-practice guidelines will maximize your odds of success. But if the prospect seems daunting, consider tapping an expert outside resource, and freeing up more of your time for core activities. Fortunately for you, we have the unique combination of consulting, marketing, and creative skills which have let us help independent consultants, boutique agencies, and ad firms alike to increase client intimacy for more than 15 years. Best of all, we’re fast, efficient, and surprisingly affordable, given the value we provide. Contact us right now and let’s talk about growing your business as quickly and productively as possible. 

---