Parts of a SWOT Analysis

 

Although it is true that this analysis gives us precise information about all areas of a company, we have to understand this analysis as an accumulation of references in two very different parts.

Internal analysis

Here, a study of the company’s current situation is carried out without taking into account factors outside it. It is about knowing and understanding the strengths and weaknesses of a company or the element analyzed.

 

External analysis

In this process, external factors are studied. Those that relate more directly to the market or sector. Therefore, we must focus on existing opportunities and threats.

Types of SWOT Analysis

As we said at the beginning, this matrix is ​​still aimed at studying a company or an entrepreneurship project. We can see that over time they have been used for very different purposes and therefore different types of SWOT have been created.

Different types of SWOT can be seen currently:

• SWOT analysis for a company: the most traditional.

• SWOT analysis for personal branding: aims to explore everything that we do not reflect to the world.

• SWOT analysis for digital marketing: it involves studying all these issues, but placing more emphasis on factors in the digital world.

The latter is one of the most used today, since with the arrival of the digital world and 2.0, many companies must orient this traditional SWOT towards the new era where competition is global and actions have a greater impact.

 

SWOT Analysis Examples for Digital Marketing

In line with what has already been mentioned above, it is important to understand not only what a SWOT matrix is, but also how it is made and how it can be oriented towards different sectors.

In this case, we will talk about how to do a SWOT analysis focused on a newsletter campaign.

As each company has a particular situation and the objectives of an email marketing action are completely different, it is interesting to have a prior study of the current situation.

To perform this analysis, we will begin by drawing the four quadrants with each of the elements of the internal and external analysis.

The first thing would be to analyze our company or our project. In other words, we start with internal analysis.

Here we have already analyzed the two key elements: Strengths and Weaknesses.

As an example of the strengths of a company dedicated to web design and development, we can say that a strong point would be its after-sales customer service or the delivery deadlines for the projects entrusted to them.

An example of a weakness could be a poor ranking in search engine SERPs or a poor time management.

The idea would be to write down in each of the corresponding quadrants everything that reflects a weakness or strength, being as realistic as possible.

After completing the internal analysis, we will move on to the external part of the company. To do this, filling in everything related to opportunities and threats

An example of opportunities could be a relationship or collaboration with a copywriter that will allow you to have not only the website development but also the content part.

And in terms of threats, it could be the wider range of products and services offered by the competition compared to our company.

Once we have all these fields filled out, we will be able to see what we are powerful at and how we could stand out more from the competition.

To achieve this, we must reinforce these strengths and resolve these weaknesses through various actions in order to reduce these threats and make the most of opportunities in an optimal way.

Example of a solution for example weaknesses (time management) could be optimized and resolved by automating many processes with email marketing

For all these reasons, SWOT analysis is a multifunctional element that can not only help companies that already have a journey and life cycle started, but can also help countless startups to have a starting point or an initial market study, depending on available resources and current level of competition.