SWOT Analysis
According to Wikipedia [link]:SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective.
- Strengths: attributes of the organization that are helpful to achieving the objective.
- Weaknesses: attributes of the organization that are harmful to achieving the objective.
- Opportunities: external conditions that are helpful to achieving the objective.
- Threats: external conditions which could do damage to the business's performance.
Opportunities
While all four categories are worth deep consideration, a web-intensive marketing plan is complemented best by a discussion of your opportunities, since it is this new medium of the internet which opens doors and levels the playing field. The room for growth lies in the untapped area of online buzz, and the best method for etching out a competitive advantage online is by becoming a thought leader in your industry. By distilling your business down to its essence through informative content in thoughtful, clear language, you can dominate your local area in terms of ‘searchability’, and open up markets you didn’t even know were there.
FACT: 94,000,000 million Americans use the Internet daily.
FACT: 63% of those use search engines every day.
FACT: Of those, 54% have substituted search engines for the phone book.
FACT: 43% are searching for a local merchant to buy something offline.
Source: The Kelsey Group