The ins and outs of swot analysis for the marketing growth

One must use this remarkable tool in order  to realign the  marketing campaign with what will give one the best results.

A  SWOT Analysis is an analysis tool that has thus however  helped in order to shine a spotlight on all the critical aspects of a company’s situation so thus than an intelligent , focused direct mail program can however be developed .

Also , by performing a SWOT analysis of the business and also marketing strategies,  can however :

• Highlight the Strengths
• Acknowledge the  Weaknesses
• Identify the  Opportunities in order  to build on
• Target Threats  in order to reduce or either to eliminate

Thus by targeting this analysis on the  direct marketing campaign(s), one can thus discover the  ways in order to save the money in producing the campaign, also  create a more effective program, and then overall build the profits and the business more quickly.

The purpose of this article is to make the reader aware of the ins and outs of SWOT analysis for the marketing growth .

SWOT is considered as  an acronym that thus  stands for Strengths, Weaknesses, Opportunities, and Threats. One however can think of his strengths and weaknesses as an  internal factor that is thus  present right now. Opportunities and threats are considered as the  external factors that however point to the future. By identifying the strengths and weaknesses, one can also  build on the  strengths in order to take advantage of the  opportunities, while one modifies the weaknesses so one thus  becomes  less vulnerable to the threats.

When you uses  SWOT in order  to identify the competitive advantages by linking the strengths to the  opportunities, this is known as MATCHING. This is thus  where one finds the  niche and goes for it. When one can link up the weaknesses to the threats, and then use that to change the  tactics, that’s thus  known as CONVERTING.

By keeping the  old marketing tactics, one is  losing business. But by gearing the  advertising towards the  older customers, one is however  performing a conversion. Another conversion tactic would thus  be in order  to design the  products that thus  appeal to younger buyers. In either case, one has thus  identified the problem with SWOT, and yone also has a way in order  to shift the marketing for the purpose of building the  business.

In some of the  cases, threats and weaknesses can’t thus be easily converted. But with  the knowledge, they can thus either  be minimized or avoided. This will thus  become clearer as we would however look more deeply at the SWOT elements, and then thus apply them to an example.

Breaking Down SWOT

Our first step is thus  the “S” in SWOT: one must identify the strengths. One must look at the  products and services and then  identify what it is that one  does  or either  offer that is thus  better and unique when it is compared to any of the  competition.

Then the next step is to take a good hard look at oneself and then  identify the weaknesses. This isn’t thus  quite as much fun, but one will however  have to see as to what could keep one from reaching the marketing objectives. Where does one need to improve?

Then after that, one is is supposed to look at the opportunities. What are the great new products or the  services which one is  developing that could however  open the  business to a whole new niche or one must also  better prepare himself  to fulfill the needs of the niche one is  in.

Finally, after everything one will be required to look at the potential threats that could thus derail the effects of the marketing campaign. One will be required to see if there is  some direct competition out there that is however eating into the target audience?

Some of the SWOT Pointers which one is required to keep in mind is that :

• One must be aware that all the SWOT analyses are thus  more subjective than scientific. One must thus  keep this  in mind, get the input from others, and should then  be prepared in order  to redo the analysis every six months or either every year in order to to see as to  how the  things are going and if changes are necessary or not .

• Secondly , one must Be HONEST. One should not overemphasize the strengths or either  underemphasize the weaknesses. One must never ignore the elephant in the parlor. One can’t thus get the most value from the SWOT exercise if one “stacks the deck.”

• Thirdly , one must Be as specific when one is  looking at the  company. One is required to define the customer. Define the product and also look at the real numbers where they are available.

• Fourthly, one must be clear on the time factor. This is what the company looks like today. This is where the  company could however  be in the future. How will one thus  get from point A to point B?

• Fifthly, one must keep the competition in mind. How is one better than them? How is one worse? How will these issues play into the marketing?

• Last but not the least , one must keep It Simple. It’s however  possible in order to get too involved in the  over-analysis and also navel-gazing. Thus one must not do that! One must thus Use the SWOT tool — and should not result in being used by it. iF this happens , one would  end up in uanalysis paralysis!

Thus using SWOT analysis  and also tools and  techniques, the founders of LegalRaasta a startup which provides legal services have resulted in providing more than 100 + services. One doesn’t even have to go out , as it provides online services .

Choosing LegalRaasta is beneficial as:

1. It has , 30+ offices in India
2. It has 10+ years experience
3. It helps to save your time
4. There is a cash back guarantee

Some of the services which it provides are :

1. Tax Filing/TDR – GST Registration , GST Return, ITR , TDS Return filing, Business income return , Bulk return filing , Revised return filing , Respond to tax notice
2. Company Formation – Pvt. Ltd., Limited Liability Partnership (LLP) , OPC registration
3. Registrations – DSC, Trademark, Patent , Copyright

And also many more services .

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for GST Software, GST Return Filing, GST Registration, Section 8 Company Registration, Nidhi Company Registration, IEC Registration, Fssai License, File ITR Online.