How does SWOT save your business
Here is an example of Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis for a small business working on developing a marketing plan. The small business used in this example is a dog grooming business.
(For information on SWOT analysis and how to use it for business planning, see SWOT Analysis for Your Business.)
Purpose: Create a Marketing Action Plan ..
(Note that this SWOT analysis is specifically focused on marketing this small business.)
- Many customers are back
- Customer Satisfaction - Customers say they like the service and positive word-of-mouth by recommending care options to others
- Get a walk-in proposition
- Mobile care trolley has an eye-catching logo and offers a certain presence for on-site services
- Don't pay attention to marketing - depending on word of mouth and website
- Website purely informative and static
- Don't have a marketing plan < haben="" sie="" nicht="" viel="" von="" einem="">
Take advantage of the increasing popularity of dogs
- Increasing use of social media
- Increase the amount of passable traffic
- Local annual pet fair
- Kennel clubs, rescue societies, local SPCA
Other dog grooming companies in town, competition is increasing
- A dog grooming company runs a series of radio ads and also runs newspaper ads once a week
- Another competitor has partnered with the local SPCA to host a dog washing and grooming day every few months (through a donation to the SPCA).
- Costs for ongoing media advertising
- SWOT analysis:
Can strengths open up any opportunities?
Since customers say they like services and are ready to recommend them, they could create some sort of referral reward program to actively encourage referrals.
- A loyalty program could be developed for regular customers.
- Might try increasing the walk-in with a prominent window display.
- Consider moving the business to a location with more walkable traffic.
- Look into setting up a stand at the local annual Pet Fair.
- See if kennel clubs, rescue societies, etc. are interested in partnerships.
- Increase social media usage and explore other low-cost ways to promote the business.
- How can we turn weaknesses into strengths?
Given the opportunities and weaknesses recorded, it looks like social media could be a real marketing opportunity. Instead of just having an informational website, our company could set up a Facebook page and open a Twitter account to reach out to old (and new) customers. (Because dogs are so popular, tweeting as a dog might help Example "Rover says regular personal hygiene makes him happy and healthy"). Another option could be Pinterest - pictures of cute pets are very popular.
What do we have to do to take advantage of opportunities?
Set up social media business accounts / pages. (I'm already familiar with Facebook and Twitter through personal accounts.) Schedule time or assign reps to update Facebook / Twitter accounts. Set up a Pinterest account, purchase a camera, and train a staff member to take photos of animals and post pictures.
- Canvas staff for Facebook contest ideas.
- Find out about the annual Pet Fair, how it's going and how much a stand / table would cost there. (Also remember the cost / logistics if you are manning the booth or table.)
- Monitor potential new business locations. Contact a real estate agent and ask about a centralized business location where many people keep their pets.
- Canvass Kennel Clubs and Dog Rescue Groups for possible partnership opportunities.
- Contact the artist of the window to see offers in a window.
- Opt for referral discounts and loyalty programs and notify existing customers.
- How do we best neutralize threats?
Without a bigger marketing budget, we cannot run competing radio and newspaper ad campaigns (although it would be a good idea to run the occasional newspaper ad). Might be able to offset the competition's newspaper and radio campaigns by developing our online presence as above.
As you can see above, this SWOT analysis laid the groundwork for an action marketing plan that gives clear direction on how this small business can counter the marketing efforts of its competitors and grow its own customer base. Back to SWOT analysis for your company
SWOT analysis matrix
|Positive factors||Negative factors||Internal factors|
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