Here is an outline of essential elements for good preaching from my perspective. Much more could be said about each of these elements. This is only a summary.
1. INTERPRETATION – What is the meaning of the text? Determining textual meaning is the essential first step.
2. TRANSLATION – The job of the preacher is to transfer the meaning of the text to the audience in terms and contexts they understand. This is a kind of “translation,” reproducing textual meaning via the sermon.
3. ORGANIZATION – In order to accomplish #2, every sermon should be structured for maximum effect. Thus, a sermon should contain the following 7 elements:
Exposition – Explaining the meaning of the text.
Illustration – Elucidating the meaning of the text.
Application – Applying the warranted meaning of the text.
Imagination – Helping people penetrate reality.
Argumentation – Proving the point of the text via its logical trajectory.
Motivation – Moving the will to obey – (via rhetoric, passion, exhortation, etc.)
Exhortation – Telling them what to believe and practice; to do and not to do.
4. COMMUNICATION – Connecting with people via content and style.
5. PASSION – Passion for Christ, the Word, and people expressed in delivery.
6. PERSUASION – Preaching to convince people to think & act biblically. Behavior is based on belief. Change how people think and you will change how they behave. James 1:22.
7. TRANSFORMATION – Information is not transformation. Life transformation is the goal of preaching – salvation of the lost; edification of the saved.