SWOT Analysis Can Drive Your Small Business Marketing Efforts

We’re big proponents of having a strategy in place before you start your marketing efforts. For a lot of small business owners, one of the first steps to creating a small business marketing strategy is to perform a SWOT analysis. Learn more about what that is and how it can drive your small business marketing efforts.

What is a SWOT analysis?

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business. The primary objective of a SWOT analysis is to help organizations develop a full awareness of all the factors involved in making a business decision. This technique was created by Albert during a study conducted to identify why corporate planning consistently failed. Since its creation, SWOT has become one of the most useful tools for business owners to start and grow their companies and is especially impactful when it comes to determining an informed marketing approach. A SWOT analysis will help you think about your company in new ways and produce potential opportunities that will help you take back market share and gain a competitive advantage.
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