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How to make a successful SWOT analysis?



What is the SWOT matrix?


The SWOT matrix is an analysis tool for developing a company's marketing and sales strategy and evaluating the success of a project. This tool makes it possible to define the most suitable offer for the market in order to develop a new project, to target an innovation, to define a commercial offer or to identify a market with high potential.


A SWOT analysis can be carried out at the launch of a business or a new product. It is essential when you have a project and are looking for a way to achieve its objective. This analysis allows a general development of the company by crossing 2 types of data: internal and external.


Here are 7 tips to make a good SWOT analysis:


1- Define the scope of the SWOT

A SWOT matrix can concern a more or less dense field. Before any analysis, it is essential that your field of analysis is clear: what is the strategic field of activity, which market you want to enter, which product range or brand you want to launch.


2- Distinguish between external and internal

The basis of any SWOT analysis is to distinguish between internal and external factors in order to obtain a fair study.

Internal information concerns the strengths and weaknesses of the company. The entrepreneur must therefore look internally at the resources at his disposal, whether human, financial, intangible or material.

External data, on the other hand, concern the opportunities and threats that are external to the company and which can contribute to its success or, conversely, be detrimental. These external facts explain the market and its environment.

3- Rely on real facts

This strategy is based on factual elements. To do this, you need to collect information about the target market. To obtain this information, it can be done in the field with customer opinions or commercial feedback or, at best, before any commercial operation, by doing a market study.

Thus, it is important to banish the "I think that" and give priority to data collected such as "the market is made up of X players and Y customers"...


4- Specify and quantify the data

The SWOT matrix allows you to work on the strategy for developing your project and for this, having quantified data is essential because it allows you to be more precise and you can also make quantified projections. However, the quality of this data is essential to avoid distorting your analysis.


5- Prioritise the facts

Not all elements have the same impact. Indeed, some have an immediate consequence, while others do not. It is therefore advisable to highlight the data that have an impact on current decisions and to notify the trends that are coming up and that could have an influence. Putting order in these facts is essential to avoid distorting your analyses, so think about prioritising the elements according to the impact they will have on the strategy and the time they will take to establish themselves.


6- Get to the point

A SWOT analysis is different from its presentation in a business plan for example. The analysis certainly takes time but its presentation must be as synthetic as possible. You need to be able to see the main and essential elements directly.

The presentation must be clear in order to define the main lines of development in marketing and commercial terms.


7- Matching the analysis with the project

In order for the SWOT matrix to be as relevant as possible, it is important to ensure that it is in line with the project. It must be built around the project's objectives. Indeed, it must lead to decision-making and a strategic marketing action plan with parallel actions.


This analysis is therefore essential for any project you have in mind if you want to carry it out successfully! Find out more about our marketing training courses at www.evo-formation.com





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