SWOT your Marketing Plan

A S.W.O.T. analysis is included as part of the competitive advantage in your business plan, and outlines the strengths, weaknesses, opportunities and threats for your company. For your marketing plan, also create a S.W.O.T. analysis as it will assist with goal setting, resource planning, and deciding on what marketing tactics to use.


Here is a list of guiding questions to use when developing a SWOT analysis for your marketing plan. 

Strengths and weaknesses are focused on internal attributes, while opportunities and threats come from external sources.  There are a variety of ways you can present your SWOT in your marketing plan, but the most typical format is in a quadrant.  See an example of a SWOT chart below.

STRENGTHS AND WEAKNESSES

  • What marketing skills do you, or your staff, have? e.g. design, digital tools.

  • Do you have access to external marketing support?

  • Do you currently have marketing channels in place? Are they successful?

  • If you are expanding your business, do you have expertise in the local market?

  • What resources do you have available? Budget, Time, Skills

  • Are there any competing initiatives within the company? Resources

OPPORTUNITIES AND THREATS 

  • What trends or changes are influencing best-practices? Social media or search engine algorithms, concerns for privacy on digital platforms

  • Any new channels or tools now available or are now more affordable?

  • Are there any new opportunities for marketing? Community events, new regulations that support your industry, new research.

  • Are there any changes to competitors’ marketing activities? SEO, Digital Branding, Events.

  • Are there any events or initiatives within the marketplace - economy, community, industry - that can cause interference with your messaging? Too much noise to compete for your audience’s attention.

  • Any new legal or regulations to be considered? CASL - Canadian Anti-Spam Law affects email marketing, GDPR - General Data Protection Regulation affects data rules for EU members



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