These are key to understanding how a business fits into its targeted marketplace, and how it interacts with its audience.
You might have already heard of it, you may have never heard of it, you might already know how it applies to your business; SWOT Attributes can help us determine how we can help you succeed.
Sometimes in this exercise we play the Devil’s advocate and poke at barriers. By doing this we are essentially searching for your business’ weaknesses.
SWOT analysis is a useful framework for analyzing your business. It also helps to simplify your business into bare bones, point form attributes in order to begin building a solid strategy that will address every aspect of your business.
Strengths apply to the attributes your business has over competitors. What makes your business unique? What do you have that others don’t? Why is this unique attribute a strength? As a digital marketing agency we can play to your strengths to make them seem irresistible, desirable, and (best of all) obtainable for your clientele.
A weakness of a business is something that might make customers pick your competition over you; if you own a pizza restaurant and it doesn’t deliver door-to-door. We can mention many pizza restaurants that offer a delivery service, and therefore might get chosen by your potential customers. It’s in our nature to assess risk before we make even the smallest decision, and in business, weakness to a customer translates to increased risk.
Out of determining strengths and weaknesses in the SWOT exercise, we also learn about and identify opportunities and how your business could benefit from those opportunities. Opportunities might be anything from an unexploited market to an interested audience following on social media. Any variable that can help your business grow and stabilize itself, is considered an opportunity, and recognizing what the opportunities and goals are helps us figure out how to help you reach them.
One of the most important things that makes a SWOT analysis valuable for any business, is its ability to help uncover threats that would otherwise catch you unawares. Anything that presents an obstacle is a threat, your competitors are a threat, and even changing technology is a threat. Could any of your weaknesses seriously threaten your business? Recognizing the threats is the first step to creating a strategy to overcome them, and we can help you do that.