S.W.O.T. your Marketing Plan

Posted Aug 16th, 2020 in Entrepreneurship

S.W.O.T. 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 are 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

Marketing Plan SWOT Template

Download SWOT Template [MS WORD]

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