Here’s an example of a SWOT analysis (strengths, weaknesses, opportunities, threats) for a small business working on a marketing plan. The small business used in this example is a dog grooming business.
SWOT analysis example
Objective: create a marketing action plan.
Note that this SWOT analysis example is specifically focused on marketing this small business. Although a SWOT (Strengths Weaknesses Opportunities Threats) analysis can be done to give a glimpse of a company, it is particularly useful for planning purposes when it focuses on a particular aspect of a company’s business or to help in making decisions, in this case, decisions on the best way to market this business.
- Have a lot of customers coming back
- Customer satisfaction, clients say they like service and do word of mouth by recommending services to others
- Have products on sale at the counter
- The mobile van has a catchy logo and gives some visibility when running on-site services
- Does not pay much attention to marketing, depends on word of mouth and website
- Website purely informative and static
- Does not have a marketing plan
- I do not have a lot of marketing budget
- Enjoy the growing popularity of your products or services
- Increased use of social media, placing ads in social media
- Increase transit traffic
- Annual local fair
- Clubs, non-profit organizations
- Other businesses in the business sector in the city, competition increases
- A competing company broadcasts a series of radio ads and newspaper ads once a week
- Another competitor joined a local association to organize an information day every two or three months
- Media ad running costs
SWOT analysis :
Do forces open opportunities?
- As clients say they like services and are willing to recommend them, they could create a reward program to actively encourage referrals.
- A loyalty program for regular customers could be developed.
- Could try to increase the number of visitors without an appointment by having a showcase that attracts attention.
- Consider moving the business to a location that would attract more visitors.
- Consider installing a booth at the annual local fair.
- See if clubs or associations, etc. are interested in partnerships.
- Increase the use of social media and explore other inexpensive ways to promote the business.
How to turn weaknesses into strengths?
By looking at the opportunities and weaknesses listed, it seems that social media could be a real marketing opportunity. Instead of just having an informative website, our company could create a Facebook page and open a Twitter account to try to reach old (and new) customers. Pinterest or Instagram can also be good options for displaying images of your achievements.
What must we do to seize the opportunities that arise?
- Create corporate accounts / pages on social media . (We are already familiar with Facebook and Twitter through personal accounts.) Book time or assign a staff member to update Facebook / Twitter accounts. Create a Pinterest account and / or Instagram, buy a camera and train a staff member to take photos and display images.
- Learn about social media advertising and launch regular advertising campaigns.
- Staff research ideas for the Facebook contest.
- Learn about the annual fair in your industry, such as when it takes place and the cost of a booth at this show. (Remember that there will also be costs and logistics for the stand staff.)
- Look for new possible locations for the company. Contact a real estate agent and inquire about a more centralized place of business where many people are likely to buy your products or services.
- and / or use the company van strategically, take it to popular locations on weekends and park it for the afternoon to advertise and attract customers.
- Contact designers for quotes on a storefront sign.
- Decide sponsorship discounts and customer loyalty programs and notify existing customers.
How to best neutralize threats?
Without a larger marketing budget, we can not run concurrent advertising campaigns on the radio and in the newspapers. We may be able to offset newspaper and radio competition campaigns by developing our online presence as above and by conducting social media marketing campaigns.
Results of the SWOT Analysis Example:
As you saw above, this SWOT analysis has created the seeds of a marketing action plan, providing a clear direction on how this small business can counter the marketing efforts of its competitors and increase its own base customer.