Don’t Swat the Swot

The arrow flies further when you pull the bowstring back with a goal in mind.

Social media success relies upon capitalizing on strengths and avoiding threats. Similar to the bow analogy, your analysis should help you hit targets. Once you understand the internal and external factors that help and harm your organization, you are ready to aim and let go of that string.

What is a SWOT Analysis?

“A SWOT analysis is a compilation of your company’s strengths, weaknesses, opportunities and threats”(Schooley, 2019). SWOT illuminates where the company stands at a given time.

Typically displayed in chart format, the information is easy to understand while refining your organization's strategy.

Mindtools states “it helps you to build on what you do well, to address what you’re lacking, to minimize risks, and to take the greatest possible advantage of chances for success”(The Mind Tools Content Team, 2020).

When completing the analysis, remember to look past the surface level attributes. Dive into what makes you unique.

Diving into the four sections of SWOT:

1. Strengths: These are the factors you believe are helping your organization. Things like location, staff, operating procedures, and product line. These are variables usually within your control. Strengths may also reflect needs within the market. For example, a chewing gum company may identify long-lasting flavor as a strength. Having a clear vision of the attributes the organization values helps the marketing team convey this information to your audience.
2. Weaknesses: Internal weaknesses may fall in similar type areas as strengths. When completing the analysis, be truthful. The more you find, the better off the organization will be long term. Think about this from an outside point of view, as well. What is not working in favor of the company?
3. Opportunities: These are areas where your organization could be headed. Typically, external factors that open doors and provide the potential for increased revenue. By documenting opportunities, you give yourself a road map for success. A key to success is to “leverage your strengths to make the most of your opportunities”(Martin, 2019).
4. Threats: When contemplating threats, don’t forget about external factors that are outside of your control; like weather and pandemics. Ask yourself questions. Is your brick and mortar ready for hurricane season? Is there new competition? What about weak supply chain links? What could go wrong and how can you be prepared to address these things if they do happen.

What’s the benefit of a SWOT analysis?

After building your SWOT chart, you’ll be ready to refine goals for sustainability. This will help you better understand where to place your focus. Additionally, you’ll be better prepared to find new revenue streams by hitting opportunities head-on. You’ll also remove threats that could hinder your organization. By working with clear facts and internal messaging, you’ll set solid expectations across the entire organization.

Why is it important for social media managers to know their target audience as well as a brand’s opportunities and threats?

When crafting posting schedules and creating content for your audience, social media managers need to understand what to avoid talking about(threats) and what to capitalize upon(opportunities). Conveying the right message to your target audience grows engagement and drives revenue. Using SWOT to understand your audience and how to best craft messages that reach them adds a layer of efficiency and enables overall success.

Think you should create a SWOT analysis? Download this template and try it out.

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References:

Schooley, S. (2019, June 23). SWOT Analysis: Definition and Examples. Retrieved September 24, 2020, from https://www.businessnewsdaily.com/4245-swot-analysis.html

The Mind Tools Content Team By the Mind Tools Content Team. (n.d.). SWOT Analysis: — How to Develop a Strategy For Success. Retrieved September 24, 2020, from https://www.mindtools.com/pages/article/newTMC_05.htm

Martin, M. (2019, October 10). How to Do a Personal SWOT Analysis. Retrieved September 24, 2020, from https://www.businessnewsdaily.com/5543-personal-swot-analysis.html