SWOT's brewing?

The following article is brought to you by Coors Brewers.​Knowing who your customers are is the key to success​The key to successful retailing today is to have real clarity as to who your customers are and what are their needs. How effective are you in providing for this versus all the other competing retail brands all hungry for the leisure pound?All indications would suggest that the drinks market is going to be much more competitive, and in order to stay ahead in the beer category, now is the right time to carry out your own market and customer research. The beer category still represents over 60 per cent of total liquor sales for a pub, so it is critical to keep fully up to speed with the changing consumer needs, and to provide the right brands for each occasion.Who is my customer?​How well do you really understand your customers? You may know your locals well, but what insight have you to new potential customers? Has new housing being built, or is there a new office development that affords new opportunities? What do your customers really want from your pub, and are you providing the right offer?Who is my competition?​No longer is your sole competitor likely to be another pub; there are so many other retail businesses who are competing for your food and drink sales. Take a chance to take time out from your business and understand what their offer is, what are they doing well, what ideas can you incorporate into your business. It may be something as simple as a "meal deal" in the early evening that develops new trade.How effective is my offer?​A very effective way to analyse your market and your performance is to undertake a SWOT analysis. STRENGTHS​ Great weekend trade Real ales Beer garden 30 to 50-year-old regulars WEAKNESSES​ Premium lager sales Food sales Younger consumers OPPORTUNITIES​ New housing estate Improve lager offer New food menu Relationship marketing to younger consumers THREATS​ New Pizza Hut opening Décor in lounge Venue bar next door gaining late-licence Factory closing downThe example above shows how easy it is to develop some strong business objectives through understanding all elements of your performance, analysing where longer-term threats may come from, and how you address the weaknesses that you have identified. It is important to invest time with your stocktaker, area manager or brewery representative to analyse your business performance to ensure that you are providing a range of brands that meet the fast changing needs of your customers, and that you harness the retailing skills that you are going to require to keep regulars returning, while enticing new customers to your pub.Beer dominates the ontrade alcoholic wet mix​Share by MAT value​

Source: AC Nielsen On trade GB Nov 2002​Things to consider​

• Carry out simple research into what your customers want
• Undertake a SWOT of your business at least once a year
• Develop a business plan to grow your sales and profit.