Creating an effective Web Strategy requires time and proper planning to ensure success.  There are many strategy planning models that Marketers use in creating effective offline Marketing strategies that can easily translate into a Web setting. Most of you may have heard of it, some of you may not have, but one of those frequently used models would be the SWOT Analysis, short for Strengths, Weaknesses, Opportunities and Threats.  It is one of those classic models that you can get everybody in your organization to collaborate on and in return help make your strategy on the Internet more effective.

This article is not about Marketing 101 but just a reminder that preparing a SWOT Analysis before implementing or creating any Web Strategy would be extremely helpful in creating that success that every CEO, in any company strives for. 

It may seem a daunting task at first, but if you get everybody in your organization involved, especially department heads, it can be less stressful.

So, how do you create a SWOT Analysis?

SWOT can be categorized into two distinct categories; they are internal and external forces. For instance, internal forces include strengths and weaknesses, external forces include opportunities and threats. Many times a SWOT Analysis can be viewed as a matrix or grid; however, you can also choose to view a SWOT Analysis in tree structure form or simply listed as categories within a document.

So, let’s start with making a list of things that are mostly under our control known as strengths and weaknesses.

Strengths are those positive attributes that would help lead to a successful Web campaign.  Strengths show us what we can build on.  A firm’s strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage.

Things considered strengths, but not limited to, include:

• Strong Brand Name
• Reputation
• Cost Advantages – Price, Value, Quality
• Patents
• Web Site Design – Rankings in Search Engines
• Strong Financials
• Innovative Aspects

Weaknesses are those negative factors that get in the way of success.  Weaknesses show us what we must avoid or overcome. By acknowledging the weaknesses, we identify the areas where we need to improve upon.

Things considered weaknesses, but not limited to, include:

• Weak Brand Name
• Poor Reputation
• High Costs compared to Competition
• Lack of Patent Protection
• Limited Financials
• Gaps in capabilities
• Lack of competitive strength
• Poorly Designed Web Site – Out ranked by competitors in Search Engines

Once you’ve identified your site’s strengths and weaknesses, every action you take from then on should either eliminate weak points or enhance your plan’s advantages.

So, now that you’ve evaluated the internal SWOT factors, it’s time to analyze the EXTERNAL environment. To do this, you’ll need to be on the look out for profit-increasing opportunities and be aware of threats to your business’s survival.

Opportunities are basically potential markets that are promising.  It usually means a segment that is emerging, growing rapidly or is robust.  A competitor’s weakness could be your opportunity to take advantage and make that your strength.

Things considered opportunities, but not limited to, include:

• Unfulfilled customer need – Industry or Lifestyle Trends
• Arrival of New Technologies and Innovation
• Global Influences
• Niche Target Markets
• Partnerships / Strategic Alliances
• Loosening of Regulations

Threats are negative forces that are outside your control and may inhibit success. Threats show us what to monitor or counter in the external environment.  Web Marketers need to be very proactive and prepared to change their course a little in response to a changing environment.

Things considered threats, but not limited to, include:

• Shifts in consumer tastes, needs, and wants
• New Entrants
• Market Demand
• Economy
• Substitute Products
• New Regulations and Increased Trade Barriers

Conclusion:  SWOT Analysis tells you where you are currently and what you do with the analysis results will ultimately help determine how successful or effective your overall Web Strategy can be.  So, folks DON’T FORGET ABOUT THE SWOT ANALYSIS!

Ankush Agarwal
Senior Search Marketing Analyst
MarketNet, Inc.

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