In our previous blog post, we looked at the importance of P.E.S.T. analysis and how it can help identify external factors that can affect the future success of your marketing strategy and your business. When we engage with your company to build a successful brand identity, we want to make sure that we fully understand your mission, vision, unique selling points – as well as your strengths and weaknesses. To ensure that we do a thorough job, we conduct a S.W.O.T. analysis before we tackle creating your new brand personality.
What is S.W.O.T. analysis?
S.W.O.T. and P.E.S.T. analyses go hand in hand. While P.E.S.T identifies the external factors that can affect the performance of your business, S.W.O.T. sets out to highlight and examine the internal factors. Originated by Albert S Humphrey in the 1960s, S.W.O.T. stands for strengths, weaknesses, opportunities and threats. The analysis helps to identify the advantages of your unique business over others, the low-cost resources that you can draw upon to ensure customer engagement, your unique selling point, as well as identifying areas for improvement, what other people in your market could potentially see as a weakness, and what opportunities and threats you may be facing as your business grows.
How can S.W.O.T. help my business?
Although the idea of S.W.O.T. analysis was designed back in the 1960s, it is still a relevant tool that is continuously used today. By conducting a S.W.O.T. analysis, you can gain a better understanding of your business, and potential weaknesses; it can also help you deter threats while making the most of the opportunities available to you. It can be a stepping stone towards deciding what the goals of your business are for the present and the future and help develop strategies towards achieving them.
How our workshop can help your business strategy thrive
By being aware of all these factors, it is easier for us at Cre8ion to gain a clear picture of where your business may be headed, and see the future unravel by looking at what’s happening in the present. We’ll be happy to hear from you – contact us today to sign up for our winning workshops and discover the ‘Why’ of your business for only £500 – or let us come to you for a small additional cost.