What is a SWOT analysis
Strategy is made for the future - to know how to develop social networks and the product. But before looking ahead, it's useful to assess what the company has now. SWOT analysis is used for this.
SWOT analysis - assessment of factors that affect business.
The abbreviation is deciphered as:
Strengths — strengths;
Weaknesses — weaknesses;
Opportunities — capabilities;
Threats - threats.
To do this analysis, you need to answer questions about each of the points. It is most convenient to form the answers in a table.
Strengths
— How are you different from your competitors for the better?
— Why do customers choose your product, what are they talking about in positive reviews?
— Which customer acquisition channels are performing well and where are you more present than the competition?
— What makes a company grow and get more profit?
Weaknesses
— What do customers write about in negative reviews, what do they express dissatisfaction with in personal communication?
— How are we worse than our competitors?
— What errors constantly occur in business processes?
— What prevents you from achieving your goals and increasing your profits?
Opportunities
— What are the opportunities for business growth?
— How to turn strengths into opportunities for development?
Threats
— What external factors prevent business from developing?
— How do competitors threaten development?
— How can vulnerabilities threaten a business?
Knowing the answers to these questions, it is easier to choose solutions for social networks: which platforms to use, what to talk about, how to communicate with subscribers and motivate them to buy.
