If you’re in the business world, you’ve probably heard the term “SWOT analysis” before. It’s an acronym that stands for strengths, weaknesses, opportunities, and threats that’s used to consider all aspects of anything as large as an entire business to as small as a specific campaign.
Whether you’re thinking about expanding your current digital efforts or if you just want to get a closer look into how well your current strategies are performing, a digital marketing SWOT analysis can be just the tool to give you the insights you need. Jumpstart your brainstorming for each section with the points provided.
Below are internal attributes and resources that could be to your company’s advantage:
- Your website and how optimized it is.
- Blog posts and if they’re well-optimized for high search/low competition industry keywords.
- Social media accounts and how engaged they are.
- Opted-in email lists.
- Employees dedicated to digital marketing.
- Low cost to carry out.
- Well defined, consistent strategies being carried out such as consistently blogging, posting on social media and interacting, PPC campaigns, SEO, gated content offers, etc.
Internal factors and resources that could work against a positive outcome are:
- Lack of budget.
- Outdated; website that’s not optimized or regularly maintained.
- Lack of time to carry out strategies.
- Lack of employees dedicated to digital marketing.
- Lack of online collateral like blog posts, social accounts, email contacts, downloadable gated content, etc.
- Takes time to get results.
- Lack of lead nurturing and follow up.
External aspects that can be capitalized on for your strategy’s success could be:
- Relationships with social media influencers and engaged followings.
- High engagement with campaigns.
- Growing number of people interacting online instead of through traditional channels.
- Positive reviews from satisfied customers.
Outside influences that could harm your digital marketing efforts include:
- High competition in online spaces.
- Users with ad blockers.
- Constant time must be spent keeping up with trends.
- Negative reviews from unsatisfied customers.
An in-depth analysis of your digital marketing can give you a fresh perspective on what actions you should take to improve your efforts. By taking the time to focus on each area of the SWOT analysis, you’ll give yourself and your company the chance to choose the best strategies and make the most of them.