Before we get into the importance of SWOT analysis, let’s break down exactly what it is. SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats<\/strong>. These four factors are essential to any marketing plan. Strengths and weaknesses focus on your company’s internal factors, while opportunities and threats concentrate on the external factors that affect your business.<\/p>\n Beyond internal and external factors, using SWOT analysis helps you get realistic about how your company is doing, identify where it fits in the marketplace, and anticipate the trends within the category. Let SWOT be your marketing Gandalf to guide you through the dangerous Mines of Moria into the peaceful Shire of marketing bliss. Lord of the Rings reference? (Yeah, we just wanted to see if you were still paying attention.)<\/p>\n Now, let\u2019s get into it!\u00a0<\/b>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\n The best way to evaluate your company’s strengths is to ask the simple question: What are you doing well? Once you identify your strengths, you must compare them with the competition in order to define your key differentiators.<\/span><\/p>\n Let’s say you have a loyal customer base, or strong channel partners, or even a great name or brand. These are strengths to call out in your SWOT analysis.\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]To undercover your strengths, look into your organization\u2019s:\u00a0<\/b><\/p>\n The unstable Jenga block is the one that makes the whole tower fall. Weaknesses play a critical role in the SWOT analysis. When looking internally to determine your pain points, you can address the areas you need to improve so you\u2019re aware of the attributes to exclude when drafting positioning.\u00a0<\/span><\/p>\n Let\u2019s say there\u2019s a high turnover at your organization \u2013 you\u2019d want to avoid calling attention to this on your job posting sites and dedicate resources to improving morale with <\/span>company culture initiatives<\/span><\/a>.\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]Find your weaknesses by analyzing:\u00a0<\/b><\/p>\n Moving on to the external SWOT factors! After compiling your strengths, it’s time to look at the opportunities that could help your business thrive. For example, if you run a boutique on Etsy that makes organic skincare products, an opportunity for your business to gain exposure may include vending at local farmer’s markets.\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]When researching opportunities explore:\u00a0<\/b><\/p>\n The last external factor in SWOT analysis is threats. Threats are factors that could negatively influence the success of your business. Much like strengths and opportunities, there can be parallels between threats and weaknesses. Using the example of high employee turnover, your company might be threatened by competitors who have low turnover and look more appealing to candidates online. From there, you must brainstorm ways to get ahead of competitors in this space.\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]To survey your threats, ask:\u00a0<\/b><\/p>\n Your SWOT analysis will help you identify and address some of your organization\u2019s greatest needs and opportunities. Be thorough, listing as many things as you can, and then consider the actions you can take to move forward. <\/span> [vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom”…<\/p>\n","protected":false},"author":316,"featured_media":19111,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[913,65],"tags":[2947,2668,920,2669],"class_list":{"0":"post-19108","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing-planning","8":"category-positioning","9":"tag-marketing-audit","10":"tag-marketing-planning","11":"tag-marketing-strategy","12":"tag-outsource-marketing"},"acf":[],"yoast_head":"\nStrengths: What\u2019s your flex?<\/h3>\n
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Weaknesses: The unstable Jenga blocks<\/h3>\n
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Opportunities: How can you stand out?<\/h3>\n
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Threats: Threat level midnight<\/h3>\n
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Strategic planning and SWOT analysis<\/h3>\n
\n<\/span>
\n<\/span>It doesn’t matter if you’re conducting a SWOT analysis to determine a strategic direction or utilizing it as a foundational piece of your marketing plan. Every marketer should consider using this helpful exercise to hit ‘start’ or ‘reset’ their goals.\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\nWhether you’re a startup still trying to nail down <\/b>your brand<\/b> <\/a>or a business that needs a serious refresh, Outsource Marketing can help get you from ideation to implementation. Click <\/b>here<\/b><\/a> to pencil us in for a free consultation. <\/b><\/h3>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"