What is a SWOT analysis? A SWOT analysis is an in-depth look at a business's Strengths, Weaknesses, Opportunities and Threats. Each of these is equally important.
Obviously, it is important to figure out your strengths, but why your weaknesses? Weaknesses are areas where you could stand to improve. One weakness may be that your social media is not up to par, or that your store is too far out of town. Some of these are easy fixes, and some are more difficult.
Opportunities are things that have to possibility of becoming strengths. One such opportunity could be a prime location, or even a large under-utilized twitter following. Opportunities are important to note, as they may become the base upon which you build your strategy.
Threats are anything that threatens your business. Most often this list is mainly composed of competitors, both direct and indirect. However, I have learned that one thing which should always be on a list of threats is apathy. Apathy is the number one threat to most businesses. if you are not able to get people to care, you will fail.
The SWOT analysis is an essential tool used by anyone involved in advertising and marketing, and is one of the primary steps in building a strategy. Here at The Catholic Globe, we can help you identify your Strengths, Weaknesses, Opportunities and Threats. We are tirelessly committed to your success in the realm of advertising.
Let's talk soon,