Our guide to creating a SWOT analysis to define digital strategy using the TOWS technique
A SWOT analysis is an essential part of any business or marketing plan. It allows you to create a plan of action based not on what you’re interested in doing or on your gut-feel, but what you need to do given the situation in the marketplace. It considers your capabilities for marketing against competitors plus looks at opportunities created as new technologies are introduced.
[si_guide_block id="140701" title="Marketing SWOT analysis and strategy prioritization workbook template" description="The SWOT template formats I discuss here, from my Digital Marketing: Strategy, Implementation and Practice are available in this dedicated download, which is part of the Digital strategy workbook. These templates can be filled in quickly to show you new opportunities for your brand, whatever your industry."]
What is a SWOT?
As you’ll know it’s a 2 X 2 matrix summarising the internal Strengths and Weaknesses against…
5 reasons why SWOT analysis is still relevant to marketing strategy development
Over the last few years, it sometimes feels like the SWOT analysis is under attack. Only a few years ago I remember the contrarian views of Mark Ritson in his column for Marketing Week when he started knocking SWOT analysis, a technique that I continue to use and recommend for creating digital marketing strategies.
Here's a flavour of his views, from the post for Marketing Week which was expanded on in a post for Australia's B&T titled the utter pointlessness of SWOT, Ritson said:
"The big clue to the utter pointlessness of the SWOT approach can be gleaned from its total lack of value to any marketer".
He was talking about the application in the real-world and bemoaning why it is still taught in universities and colleges. I'd certainly agree - if it doesn't work in the real world, it shouldn't…
Benchmark the priority areas for your digital marketing strategy
The fact is, there isn't a perfect time for any benchmarking, so now as good a time as any to take a little time to reflect on your team or your organisations strenghts and weaknesses and how you feel that's bearing up against your top 2 or 3 competitors. So much changes in a year, internally and externally, and there's a lot to be said for a pragmatic review to ensure that your focus and undoubtedly limited resources are in the right place for 2012.
With this in mind, we decided to create a new Internet marketing benchmark tool for our Expert members.
What exactly do you health check?
[caption id="attachment_9345" align="alignright" width="271"] The Healthcheck tool now available to Expert members[/caption]
It's a little like going to a health clinic for a check-up, we believe, there…